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September 15th, 2020

When to Consider a Financial Advisor?

The best time was yesterday.

The sooner you begin to formulate a long-term plan, the better off you will be. Financial Advisors implement strategies to give their clients the greatest probability of reaching all of their stated financial goals. 

The ongoing investment management is a necessity for growing your portfolio.  If you are not willing to take the time to learn to and to continuously monitor your portfolio, an Advisor can take this responsibility over for you.  

Additionally, having a Financial Advisor to help you map out cash needs can increase your tax efficiency as well as investment performance by planning early for future withdrawals.  Too many people get caught off guard by their cash needs and end up withdrawing money from expensive places (ex: their 401K).  

As the COVID-19 pandemic has proven, it is especially important to think about working with a Financial Advisor during a time of economic downturn. It is common during a bear market for the individual investor to feel an overwhelming amount of fear, forcing their hand in making the wrong financial decision. A good Advisor will help calm the client’s emotions and maintain a long-term focus.  The power of emotion is too often the cause of mistakes, something that can be easily prevented by working with a Financial Advisor.

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