What Exactly Does a Financial Planner Do, Anyway?

What Exactly Does a Financial Planner Do, Anyway?
28 Apr 2020

Only 17% of Americans work with a financial planner. Unfortunately, that means millions of people are missing out on a great opportunity.

A financial planner is there to help you make sure your money is working for you. They help you build wealth and prepare for expenses.

We’re here to give you a complete understanding of what you can expect from your financial advisor.

Financial Advisors Work to Help You Plan Your Money

When you meet with an advisor for the first time, you’ll talk a lot about your goals for your money. You’ll cover your current financial health, any ongoing income or long term expenses you expect, and much more.

Advisors work to help you get the best tax deals and make sure you’re covered in case of an emergency. They’ll recommend different insurance policies, like life insurance or disability insurance.

They help you work towards big money goals, like saving for a house or putting together a good plan for your 401(k).

They’ll use all this information to help you put together a budget, manage debt, and invest wisely. They’re there to make sure you and your family have a financially secure future.

They Provide Investment Advice

This is one of the main reasons people seek the help of financial advisors. A financial advisor can help you spread your investments across different categories depending. Their exact recommendation will depend a lot on your level of risk tolerance.

They take your age into account, your current financial health, your personal goals, and how close you are to retirement. 64% of American’s aren’t prepared for retirement, but a financial advisor can help you get on track. 

And keep in mind that they may not hold the same investments or portfolio they’re recommending to you. Financial advisors customize plans for specific individuals. Everyone’s financial health, goals, and risk tolerance is different, and your plan should reflect that.

All of these factors help determine what healthy risk tolerance is for your assets. When you pick a financial advisor, make sure they’re working in your best interest, and don’t have any conflicts of interest in their advice. Feel free to ask questions.

They’re Teachers

Your financial advisor is there to help you thoroughly understand your finances and your investments. When you meet with an advisor, they should be patient enough to answer all your questions and help you understand different concepts.

A Financial Planner Can Help You Build a Secure Financial Future

Working with a financial planner is a great way to take advantage of their expertise and secure your finances for the long haul. They can help you pick high-quality assets that work for your values and your need, prepare for retirement or save for a house.

The point is, financial advisors do a lot to make sure your money is there to take care of you.

Curious about working with Solera Asset Managers? Feel free to contact us today and we’ll be happy to answer all your questions.


Daryl Seaton