You wouldn’t consider running a marathon without first undergoing a medical and some fitness training. If you’re serious, you might even hire a professional trainer to create a personalized workout that maximizes your chances of crossing the finish line.
Think of a financial advisor as a trainer – but for your money. SageVest Wealth Management evaluates your current financial fitness, learns about your wealth goals, and develops a customized plan to secure your current and future financial wellbeing. While everyone’s reason for hiring an advisor differs, there are commonalities, like saving for retirement, the loss of a spouse, or starting a business. Here are ten reasons why you need a financial advisor.
1) Financial Complexity
• You need to simplify your finances as life’s too busy juggling work, family, and other commitments.
• The depth and breadth of your finances demand complex planning that addresses the totality of your wealth.
• You have sophisticated wealth transfer considerations.
2) Investment Advice
• You don’t work with an advisor, but want to make smarter money decisions that preserve and grow your money.
• Your current advisor doesn’t offer investment advice, or you’re questioning if it’s the right advice, based on your risk tolerance, time horizon, income needs, and more.
• You’re not getting the returns you want and need.
• You’re not sure what to do with cash.
• You don’t have the time, knowledge, or confidence to handle your investments alone.
3) Saving For Retirement
• You want to enjoy today, while planning for tomorrow, with a dynamic, versatile retirement plan that’s customized for you.
• Perhaps you’re considering early retirement.
• You’re not sure how your investments will replace your paycheck and income when you retire.
• You have questions on when to take your first Required Minimum Distribution (RMD), whether to claim early Social Security, or other retirement topics.
• You recognize that financial decisions become more significant as you approach and enter retirement and want to plan accordingly.
• You want to know you’re making smart financial decisions for the benefit of your family.
• You have children or grandchildren whose academic future you’d like to support through college saving strategies.
• You want to know your family’s financially protected, during your lifetime and after, with necessary insurance coverage and planning documents.
5) Major Life Events
• You’re getting married or re-married and need help blending individual and shared finances, money outlooks, and wealth objectives.
• You recently lost a loved one.
• You want to plan for the costs of parenthood.
• You’re getting divorced and need to secure your financial future.
• You’re considering a second home, vacation home, or rental property.
• You’re a widow or widower, now dealing with household finances alone.
• You’ve inherited assets and don’t know how to approach your inheritance, or how it impacts your financial future.
7) Professional Decisions
• You’re at the height of your career and want to capture maximum savings now.
• You need help comparing executive compensation packages, including bonus incentives, stock options, deferred compensation, restricted stock units, pension plans, and more.
• You want to know how your current and future finances will be impacted by a career change, a sabbatical, early retirement, or perhaps further study.
8) Business Owners
• You’re considering starting your own business, buying an existing business, or selling your business.
• You need a succession plan to ensure longevity for your company, and financial security for you and your family.
• You need to take account of both personal and company financial needs in a single wealth plan.
9) Tax Strategy
• You want someone to proactively evaluate tax-saving opportunities.
• You want to know that your financial and investment decisions always consider how taxes impact your bottom-line.
• You’re interested in how a planned giving strategy might support philanthropic opportunities with tax benefits.
• You’re looking to minimize your tax exposure at the personal, business and estate level.
10) Financial Peace Of Mind
• You’re looking for an advisor who takes the time to get to know you and what matters most to you, so that recommendations align with your current lifestyle and future goals.
• Ultimately, you want someone you can trust to ensure you’re making smart financial decisions that support one another.
There are many different reasons why you need a financial advisor. Working with a professional is an important step in securing your financial future. Choose the right financial advisor for you, one that offers the services you need, and with whom you’re comfortable, both professionally and personally. Your financial advisor should take the time to get to know you and your finances, relative to what’s important to you and to any long-term wealth objectives you may have. Advice should be tailored to your unique personal and financial needs, with ongoing communications and guidance to help you make better-informed money decisions.
In particular, there are significant benefits to working with an independent financial advisor. SageVest Wealth Management is a top-ranked, independent, fee-only advisor, serving the Washington, DC, region, Maryland, and Virginia. We receive no commissions or benefits, and our fee structure means we’re equally invested in your wealth goals. Additionally, as a fiduciary, we’re legally required to place your best interests at the center of our recommendations. Please contact us to learn more.