Few people have the time, resources and energy to achieve their financial goals doing it alone. Having a financial advisor can save you time and money by providing you with immediate expertise knowledge and skills, which most of us don’t have. Their gauge of the economy and understanding of financial products and services can set something into motion that initially began as nerve-wracking.
Simply choosing the first financial advisor that comes your way however, will not set your financial house in order. Having an advisor that understands your financial needs will make investing and planning that much easier and pleasant. So how does one work with their advisor and what should you expect?
Realize not all advisors bring to the table the same experience, insight and transparency. Similar to purchasing a new cell phone or a car, shop around! Find someone that fits your personality, who has time and interest in your portfolio, and understands your financial goals and predicaments. The first step in finding an advisor is using Optimize’s Advisor Search tool. It will easily and quickly provide you a list of all the advisors in your area.
Investors must also realize they can’t simply hand-off their savings to an advisor and expect them to work their magic without client involvement. It takes work to build a relationship and to clearly communicate your financial goals, risk tolerance and time-horizon. It is easier than ever to educate yourself on available financial services and products, especially using the financial tools and resources provided by Optimize. Being prepared when speaking to your advisor will make the time you spend with him or her that more productive so you get exactly what you want.
A positive relationship with your advisor can make all the difference in how you invest and plan for the future. While it takes time, having a honest and transparent relationship with your advisor will provide a sense of security, control and expertise that few people can get through managing their finances alone.