Do You Really Need A Financial Advisor?

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We received an email from a potential new client asking about our services and what makes us different from a couple of other advisors they were considering.

In the email they indicated that they were quickly approaching retirement and had accumulated about $1 million in retirement assets. Since we specialize in retirement planning, they seemed like the type of client we serve best!

We explained our philosophy towards planning and investing and were confident that they could tell whether we would be a good fit for their situation.

But maybe they don’t need a financial advisor at all. Up until now, they had been doing things on their own and were pretty sure they could keep handling things on their own.

If this describes you, here are four questions to ask yourself to help you decide if you really need a financial advisor:

1.    How is your health? Are you happy with the amount of exercising that you are doing?

2.    How is your spiritual life? Is your faith as strong as you’d like it to be?

3.    Are you happy with your relationship with your spouse, your children, your family and friends? Do you see them as often as you’d like?

4.    Do you have hobbies or want to learn new ones? Do you have enough time to enjoy them?

These are all areas of your life that you can’tdelegate to anyone else. You can, however, delegate your retirement planning and investment management.

Even if you’re more than capable of handling all of your financial affairs, is this how you want to spend your time? And what about your spouse, are they able to carry on if something happens to you?

Being brutally honest with yourself and knowing whether or not you should hire a financial advisor will move you one step closer to experiencing your version of an Incredible Retirement – doing what you want, when you want. 

Brian Fricke