READER’S POLL: How often do you talk to your Financial Advisor?
This question came up recently while talking with a new client. They were thinking back on how much they interacted with their previous financial advisor. This got us wondering – how satisfied are you with the level of communication you receive from the folks controlling your money.
Do You Have a Fully Developed and Written Business Plan? |
If you answered…
“Never.”
We have to wonder how you could feel confident with this level of service. Do you actually trust this person with your hard-earned money? How will you know how close you are to your financial goals? Our team considers it a point of pride to earn and maintain your trust by keeping you fully informed on the status of each of the plans we have put in place. If you’re not receiving this level of service, it may be time to consider a new path.
“Enough, I guess.”
We are happy that you have a line of communication with your financial planner, even if it isn’t very often. However, with lower levels of communication, we suggest that you leave each meeting fully understanding what is happening between now and your next scheduled meeting. One of the major problems with such infrequent communication is that life doesn’t stop between your meetings. Major, life-altering events can take place, requiring a change in plans that might not be on your advisor’s radar. Keep in mind, major life events aren’t always bad. A new baby, a new home, or a wedding can all have an effect on your financial goals. For tips on creating effective communication with your advisor, click here.
“We are like best friends.”
Having a real relationship with your financial planner is invaluable. We are so happy to hear that you have someone that knows your dreams, your family, and your long-term goals while communicating at a level that fits your needs. The peace of mind this brings cannot be discounted. However, be careful not to grow complacent with this relationship. It can be easy to become too comfortable in such a relationship. It may be beneficial to check what your financial planner is doing “outside of the box,” from time to time.
Of course, we are always available to discuss our investment philosophy and the ways we communicate with you, whether you are a long-term client or a future client.