If you’ve been following along in this series, you’ve likely learned about some of the benefits of working with a financial advisor already. For example, advisors may aid in estate planning, saving for retirement, or helping you save for a child’s college education. However, the most significant benefit most people cite when working with a financial advisor is the help they receive crafting their investment portfolio.
Investing isn’t just for retirement planning. It’s the best way to grow your wealth and enjoy a passive income stream, before and after cashing in your social security. However, in order to make the most of your portfolio and avoid losses, it’s best to work with a financial advisor who has your back.
You may ask yourself, “Why should I work with a financial advisor when I have the time and capital to invest myself?” While going the solo route may seem like a good idea, there are many risks you can avoid and intrinsic benefits you can receive when working with a professional. You can enjoy more time on your hands, money in your pocket, and peace of mind knowing how to navigate a changing market with the help of a financial advisor.
Three Benefits of Working With A Financial Advisor
Many financial advisors specialize in investment strategy, which can help you improve your portfolio in the short and long term. Below are just a few of the benefits of working with an advisor that are much more difficult to achieve on your own:
Most seasoned investors work with a financial advisor, even if they have a successful portfolio and a plethora of knowledge of their own. Why is that? Because even the most accomplished investor doesn’t want to dedicate their entire life to their portfolio. They want to earn passive income that’s genuinely passive and enjoy their life to the fullest with family and leisure time. Working with a financial advisor gives you access to a team of people who dedicate their time and effort to your financial success, so you don’t have to.
Access to Greater Investment Opportunities
Some mutual funds are only available through an advisory partnership, which means you could be losing out on incredible opportunities if you’re working by yourself. A financial advisor will also seek options you may not have yourself, such as investment opportunities in different asset classes you don’t currently have. They help you open your eyes to the bigger picture so you can continually improve your portfolio.
They Can Help You Navigate a Fluctuating Market
As an investor, your stomach will flip when you see a drop in the market. You may feel panicky because it’s as if you’re watching your money disappear. But, your financial advisor has years of experience and knows that even the most considerable market fluctuations will settle themselves in time. They see dips in the market like sales on stock and may encourage you to invest more while you have the chance. A financial advisor keeps your emotions and investment plan in check and can help you ride the waves rather than crash.
How Do I Find a Financial Advisor for an Investment Strategy?
Not all financial advisors work with investment planning. Some specialize in tax planning or estate planning, so it’s important to interview potential advisors and ask about their specialties and clientele before working with them. Ask your advisor the following questions to ascertain whether or not they’ll be the right fit for your financial goals:
- Who is your typical client, and what goals do you help them achieve?
- What opportunities can you bring me that I won’t find elsewhere? Will I gain access to mutual funds or other unique investment opportunities while working with you?
- Can you help me shape my portfolio to fit both values-based and financial goals?
- What services do you provide for an investment strategy?
- What is your fee structure?
OneAscent specializes in investment planning using a values-based approach. We can help you achieve your financial goals now and in the future and do so in a way that leaves a personal legacy in addition to a financial one. To learn more about the values-based approach, schedule a consultation with one of our advisors today.