There are many different types of finance professionals, from financial advisors and tax professionals to investment brokers and bankers. Few of them can have the long term, relationship-based impact that financial advisors can. If you’ve never worked with a financial advisor, you may not really know how he or she can help you. Here is a brief overview of what financial advisors do.
Help Clients Plan for Short and Long-Term Goals
Financial advisors work with your best interest in mind to help you plan for your short and long-term money goals, whether you want to stop living paycheck to paycheck or save for retirement. Unlike a banker, who works primarily in the interest of the bank, or an investment broker, who makes more money by getting you to invest, financial advisors work directly for you toward your goals. Financial advisors will help you come up with a realistic plan.
Plus, financial advisors can help you with your taxes, make investments, and manage your money. This makes a financial advisor a great resource to rely on for all financial matters.
Determine How Much You Should Save
The truth is that most Americans don’t save enough for retirement or rainy days. Many clients believe that they don’t have enough money to save or invest, so they don’t. A financial advisor will work with you and see how much money you should be saving, based on your unique circumstances and goals. They’ll even give you the tools you need to get there.
Financial advisors that are Fiduciaries serve as an independent expert to your finances. Instead of putting on the rose colored glasses of a salesperson, a they will be honest about the state of your family’s finances and let you know what you can do differently to improve them. Fiduciary’s hold themselves to higher ethical and moral standards and are required to always act in your best interest.
Evaluate Investment Risk
When it comes time to invest, a financial advisor will be able to properly evaluate your investment risk. He or she will consider the investment and your financial goals. For instance, your financial advisor may try to balance risk with your investment horizon. If you will need your money in a short period of time for a large purchase, a financial advisor will likely recommend that you choose stable investments.
Financial advisors educate clients on a wide range of topics. These can include investment opportunities, money management, savings strategies, and how to understand market performance. Financial advisors also answer any financial questions that clients may have.
Financial advisors play a key role in educating and directing clients toward reaching their financial goals. If you need a financial advisor, consider Dechtman Wealth Management. Call (303) 741-9772 for an appointment to discuss your unique financial needs.
Important Disclosure Information
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Dechtman Wealth Management, LLC [“DWM”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from DWM. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. DWM is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the DWM’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at www.dechtmanwealth.com.
Please Note: DWM does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to DWM’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
Please Remember: If you are a DWM client, please contact DWM, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently.
Please Also Remember to advise us if you have not been receiving account statements (at least quarterly) from the account custodian.
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