In the previous blog, we looked at the tax benefits of working with a financial advisor. While not every financial advisor offers tax planning services, those that do can save you a lot of time and money that can go toward enjoying your retirement more rather than stressing over forms. Financial advisors can also help you reduce your tax burden when it comes to saving for college, giving meaningful charitable contributions, and more.
Yet, that was only part one of five in this series. The benefits of working with a financial advisor go far beyond simple tax savings. One of the primary goals of a financial advisor is to potentially improve the performance of your portfolio with financial planning services.
What is Financial Planning?
A financial planner is like your coach in the game of investing. They are there to help you make strategic plays and choose strategies to help you reach financial goals. This not only includes helping you manage your investment portfolio but can also include:
- Debt payoff
- Retirement and estate planning
- College savings account planning
- Employee benefits planning
- Strategies for charitable giving
In order to do this, your financial planner will sit down with you and discuss your financial goals in-depth. They will want to know what your current assets and income are; what you want to achieve financially both in the short-term and long-term; and what you prioritize both financially and as a family. This information helps your advisor to craft a plan that addresses your needs and goals while overcoming roadblocks in your current situation.
Should I Work With A Financial Planner?
As an experienced investor, you likely feel like you can do all of this yourself. If you don’t have debt struggles and feel confident in your investment portfolio, why not save the money and keep control of your financial plan entirely?
Think about it like performing maintenance on your car. You can learn how to change out the parts, change the oil, etc. You could — but it’s just not the best use of your time. You won’t be able to gain the same level of expertise as a full-time mechanic, unless you devote several hours of your day, every day to learning and practicing. Working with a financial planner is the same way.
The cost is simply outweighed by the benefits of working with a financial advisor. Not only can you take steps with the goal of building your portfolio, but you can work with someone equally financially savvy to improve your financial plan and meet goals faster. When you work with a financial advisor, you are able to:
- Learn about new investment and savings strategies that can help you increase your wealth now and in retirement
- Plan for college savings and charitable giving while taking steps with the goal to reduce your tax burden
- Create financial plans that honor your personal values
- Create an impactful financial legacy for your family and community
The OneAscent Perspective on Financial Planning
OneAscent offers financial planning services that go one step deeper into values-based investing and planning. We work with you to create pathways to success that align with your personal values and the legacy you want to leave as an individual. By building meaningful relationships with our clients, we are able to nurture their personal lives by helping them to invest meaningfully and use financial strategies that provide for their families now and in the future.
We understand money is more than just a tool – it’s an opportunity to create an impact on the world. With OneAscent, we can help you choose the financial strategies that lead to meaningful change for yourself, your family, and your community. We believe that your investments should always align with your values, and create a clear path to success that allows you to do that.
To learn more about financial planning services with OneAscent, contact us today.