There are many moments in life where you need to seek out professional advice. Buying a house, for example, is one of them. While you can certainly purchase a home without a real estate agent, you may miss out on new properties, understanding real property values, market fluctuations, and negotiating power. But not all real estate agents are built alike.
I have worked with some who showed me houses way (and I mean way) outside of my max budget which made me feel uncomfortable. When this happens, I feel as though the professional is not as interested in my needs rather in the commission they could get if I did scrimp for months to be able to afford the house that was outside my budget.
But there are others who take the time to sit down with you, get to know you and your goals and work with you until you find the house of your dreams. Financial advising can be thought of in this way.
Here at TFS, we value you as a client and seek to give you our best to help you reach your financial goals, whatever they may be. The world of finances can be confusing and tough, and it is our goal to empower you to help you feel comfortable navigating it together.
So, what is the value of a financial advisor? Let’s find out.
Naturally, a financial advisor will be able to help you with your finances. But that’s a super vague description like a real estate agent helps you buy a house, and doesn’t capture the comprehensive nature of the work we do at TFS.
Your finances encompass a huge part of your life. Finances put a roof over your head, food on the table, entertainment on the weekends, family vacations, personal savings, and so much more. By having a professional help you manage all of these moving pieces, you’ll be able to have a clear idea of where your finances are at and where they can be.
At TFS, our team loves learning about our client’s goals and what they are most passionate about. After discussing these things with them, we sketch their vision and create a plan to implement that vision. Financial advisors help construct a plan and put it into action.
Sometimes it can be difficult to do both of those things by yourself, but with a professional, you can be sure that your finances will be in line with your values and goals for the present and the future. You communicate your goals and then see practical steps to bring those goals to life.
A financial advisor can also bring organization and structure to your financial life. They can help you make a budget, solidify financial goals, create financial milestones and chart progress toward those goals, prioritize your savings goals, manage your investments, help you see blind spots, and help create proactive tax planning and preparation strategies.
But value is not only found in the financial realm of a financial advisor. There is another huge component that drives what we do: relationships.
Relationships are the heart of any business, especially financial planning. For many, money is extremely personal. Money can be a difficult topic to talk about, but with an advisor who is caring, knowledgeable, and professional it can make those conversations calm, natural, and productive.
Since money is such a personal topic, you can’t eliminate the personal connection you need to be able to manage it efficiently. Which is why we don’t do that here. Developing relationships is so important to a good financial advisor.
With the high volume of financial advisors out there, how can you be sure that you can trust who you are working with? One of the key elements to look for is if your advisor adheres to fiduciary standards. When you work with a fiduciary financial advisor, you can expect that your needs come first because of the legal obligation that comes with it. This fiduciary standard is another method for you to feel confident that you are getting quality, bias-free advice.
Relationships are so important in our business. When we get to know our clients and their unique needs, we can give them personalized advice, tailored to their needs and goals making them confident they have someone who they trust on their side. There are so many financial tools, it is also important to know what tools to avoid and why.
A financial advisor can also provide confidence, knowing that your money is in caring and capable hands.
We would love to learn more about you, and if you would like to get to know us as well please reach out to us and we can work together to make a plan for your financial future.
Investors should understand that working with an advisor does not guarantee that they will experience greater investment performance or reduced losses as compared to working with an advisor who is not acting as a fiduciary.