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7 Things a Good Financial Advisor Does

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I get it. You use money everyday, why do you need to pay someone to tell you what to do with your money?? There’s a commonly held belief that you need to be rich to use a financial advisor. It basically says Mo’ Money, Mo’ Problems. And that can certainly be true (I know: first world problems). But I believe that everyone can benefit from the advice of a reliable financial professional. I believe this so much that I’ve staked my entire livelihood on it. To prove it, here are 7 things a good financial advisor does for your life.

Organization

Working with a financial advisor forces you to play the hide-and-seek game of hunting down your numbers. I know it’s something you’ve been meaning to get after! It’s just that more important and/or fun things keep coming up. You’ll get to it tomorrow. I know you will.

Except now your friendly neighborhood financial advisor is asking for those numbers . The friendly neighborhood financial advisor who you are paying. That’s motivation to get organized! But even more than that urge to prove you have your shit together, a good financial advisor will help you get everything important into one place. This applies to everything from where your accounts are to the little things like where your daily money is going.

Education

Probably the number 1 thing I hear from potential clients is “I don’t know what I don’t know”. And it’s true! Everyone is doing their best with what they know and no one really knows where their blind spots are. A good financial advisor will be able to evaluate what you know, then educate on your gaps. Gone are the days when a dude in a slick suit says something and you nod, smile, and just do it. A good financial planner will explain what your options are and why they make sense for your situation.

Objectivity

Money is an emotional topic. No matter who you are, thinking about and talking about money stirs up feelings. Whether it’s because we use money to measure our value or because we know money’s necessary to survival in this day and age, money equals emotions. A good financial advisor knows you’re having all the feels and will let you express them. Then we’ll give our recommendation from a place outside of those emotions.

Proactivity

Very few people like feeling as if they’re a step behind. And when it comes to money, it can often feel like we’re always trying to play catch-up because we don’t have the education to know what to expect. A good financial advisor has experience in guiding people through different life events and transitions. We do it all the time. It may be a first for you, but odds are good that we’ve seen something like your situation before. A financial advisor can create a plan so you’ll be financially prepared before taking that next step.

Partnership

A good financial advisor wants to see you succeed. We love nothing more than the contact high of a client who is making their dreams come true. We want to be apart of that. When you sign up to be a client, a good financial advisor is going to ask you all kinds of questions about your life, experience, hopes, dreams, and wishes. This allows us to work with you, not just for you.

Expertise

I hope this point is pretty obvious as one of the 7 things a good financial advisor does. but just in case it isn’t: a good financial advisor has expertise. Acquired through both studying and experience, I know things about how money works that most people never want to hear about. There are so many ways that money can interact with itself. Using a good financial advisor can pay off both by maximizing how your money works and by giving you piece of mind that you aren’t missing something.

Accountability

This is absolutely the biggest value I provide to my clients. I already touched on this, but be honest: how often have you thought about working on your money situation but then thought “maybe tomorrow”? I do it all the time! And I’m willing to bet you do too. Having a good financial advisor on your side means someone will hold you to doing the work. Most of the time, you know you need to do it. It’s just a matter of motivation. I’m happy to be that kick in the rear.

There you have it: 7 things a good financial advisor does. Unfortunately, not everyone who calls themselves a financial advisor delivers these things. It’s important to ask questions about what they do and how they’ll work with you. But once you find a good financial advisor, your money life will be better for it.

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