6 Truths about Working with a Wealth Advisor

OPEN COMMUNICATION GOES BOTH WAYS. A well-designed plan needs to be based on your true situation and built around the right decisions for your family, not just the right decisions for your money. It’s important that you feel comfortable sharing personal details like family dynamics and health concerns. And, your advisor needs the personal skills to help you set priorities, keep you focused on your goals, and give you her opinion even when you might not want to hear it.

PLANNING FOR “WHAT IF?” Even if you think that no one can manage your family’s assets more efficiently than you, think about what could happen if you get sick and can’t do it. Should something happen to you, transitioning the management of your financial portfolio can be far easier if you already partner with a wealth advisor.

YOUR TIME IS VALUABLE. A well-educated, experienced wealth advisor has spent thousands of hours learning to understand, analyze and manage personal finance issues. Compare that to the time and energy you can devote on top of your career, family and life commitments. Working with a wealth advisor gives you the freedom to spend time on things you enjoy, just as you might hire a house-cleaner or gardener.

RETIREMENT SPENDING NEEDS A SECOND OPINION. Planning for retirement is straightforward for many people – save aggressively, have a solid investment plan and stay the course. But many people have trouble spending down their portfolio in retirement and end up skimping on their lifestyle because they fear running out of money. Your financial advisor can help bring much needed confidence, coaching you on how best to deal with seeing a smaller portfolio balance on a continuous basis.

MONEY AND FINANCIAL DECISIONS ARE EMOTIONAL. Emotions can drive your decisions and cloud your better judgment. Family dynamics add another element of confusion. Your advisor isn’t as emotionally entangled in your “stuff” and is more likely to see your case in a more balanced way.

RELATIONSHIPS ARE LONG-TERM. Although you may not need comprehensive services today, you’re building a relationship that will likely last a lifetime. Some financial advisors manage investments without much financial planning. Some work primarily with investors who won’t retire for years. Still others specialize like those who work primarily with in employer-sponsored plans.
You’ll appreciate services like tax-reduction strategies, estate planning, or retirement income distribution planning throughout the various phases of your life.


Schedule a complimentary, no obligation review with one of our advisors today.

Call 605.357.8553 or email cfsteam@mycfsgroup.com.

Investing involves risk and investors may incur a profit or a loss regardless of strategy selected. There is no guarantee that using an advisor will produce favorable investment results. CSP#69632 exp 12.8.23


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