facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause
%POST_TITLE% Thumbnail

5 Reasons to Work With an Independent Financial Advisor

Spend your free time hanging out with your friends instead of sitting in front of your computer, stressing about the stock market. That’s what Financial Advisors are for. There are many reasons why working with an Independent Financial Advisor could be the best thing you can do for your long-term financial success.

Most of us that work have some sort of retirement plan set up. Whether it be an employer sponsored plan such as a 401(k), 403(b), profit sharing plan, pension, or even your own Individual Retirement Account (IRA), the goal is the same – to save and invest for retirement. It’s well known that relying solely on Social Security may be detrimental to your future. The thing we don’t often realize is that not having a personal relationship with your own Independent Financial Advisor may also have a negative impact on your financial future. Of course everyone’s financial needs and goals are different, but working with an Independent Financial Advisor could provide the following benefits:

1. Gain access to a wider variety of investment options. Working with a financial advisor who is an employee of a bank or mutual fund company may mean that the advice they provide is somewhat restricted to funds and investment products available to them. As Independent Financial Advisors, we have access to investment products and services from hundreds of different companies; we are not limited to investment vehicles offered by just one financial firm. Independent Financial Advisors work directly for their clients, enabling us to offer unbiased investment strategies that are suitable for the clients’ needs and goals.

2. A healthy relationship. Interviewing and meeting with several different Independent Financial Advisors from different firms, puts you in control. Choose an advisor that understands you and that you like and get along with. This should be a long-term relationship that goes beyond the numbers and the office. All of our clients have our cell phone numbers and can contact us directly anytime. Who wants to call an 800 number just to wait on hold and then get connected to a random customer service rep? No, thanks.

3. Take the emotions out of it. Managing your own money might come along with excitement, fear, and all sorts of emotions often times based on what you hear in the news or see on your statement. Working with an Independent Financial Advisor can prevent you from making emotional decisions. For example, an experienced advisor knows that when the market is down, there actually may be a buying opportunity depending on the client and their situation. Many individuals will do just the opposite on their own – buy when the market is up and attitudes are positive and sell when the market is down and the outlook is gloomy. This approach actually creates the opposite of the desired outcome. Your Financial Advisor can remind you to stick it out when things get rocky in the stock market despite your urge to cash out and walk away.

4. Accountability. How many times have you told yourself that you were going to start saving next year, next month, or after you start your new job? Often times we set a financial goal, but struggle to accomplish it because we don’t know where to begin or how to get there. Your Independent Financial Advisor can help you set up automatic contributions to your investment account and help you determine what amount you can afford. Ensure you always pay yourself first no matter what else might be going on in your life like your kids going back to school, a move to a new house, or starting a new job.  Investing needs to stay at the top of your priority list. You are busy and that’s what we are here for.

5. Be in control. At the end of the day, investment decisions are your own. Unless discretion authority is given, your Financial Advisor will not make investment decisions without your approval and permission. Let the expert guide you in the right direction and make recommendations based on the many conversations you have with them. A good Independent Financial Advisor will review and understand your risk tolerance, time horizon, and overall financial situation before making any specific recommendations. From there, the final choice is yours to make.

Check the background of this firm/advisor on FINRA’s BrokerCheck.