Going it alone can be difficult. Learn how a professional can work with you to build a wealth plan that helps you reach your goals.
We all have goals—and many are linked to our finances, from paying for higher education, to meeting health-care needs and other unforeseen costs, to retirement planning. Trying to make investment decisions while juggling all these financial goals on your own can be overwhelming and time-consuming. Consider working with a Professional Financial Advisor. They have the experience to help create and implement a wealth plan that takes your specific goals and circumstances into account and develop a suitable structured approach to achieving those goals.
How a PS & Partners Financial Advisor Can Help
Many investors turn to professionals for guidance on their investments. More than half (54%) of high-net-worth investors in the U.S. currently work with a financial professional, according to a Morgan Stanley survey. These investors are most interested in getting guidance on retirement contributions (87%), asset allocation (86%), market analysis (83%) and changes in tax policy (80%).
Managing your finances is more than just making investment decisions. It begins with having a thorough understanding of your situation – including expenses, investments, aspirations and family dynamics, as well as your goals.
By working with a Financial Advisor, you can determine an asset allocation strategy to help you reach your goals, then put those strategies in place. The Financial Advisor can also work with your tax and legal advisors to help create a personalized plan that suggests ways to help minimize your taxes, incorporates estate and philanthropic goals and covers your future health-care needs.
Financial advice can also help you avoid making sudden decisions based on bad timing. Many people have a tendency to pull money out of the stock market when prices are falling, and to buy into the market when prices are rising. This can cause investors to overpay for stocks or miss out on buying opportunities at various times. A good Financial Advisor can give you access to nontraditional investments, such as alternative strategies and private equity solutions and complex structured investments with guarantees and enhanced protection features which are not available to the individual investor.
For investors who qualify, these options can provide returns that don’t correlate with the broader market, while also helping you manage risk. A Financial Advisor will team with your tax advisor to work toward helping you keep more of your investment returns yourself rather than paying the tax man or determine if tax-loss harvesting could work for you.
Making the Most of Working with a Financial Advisor
If you’re already working with a Financial Advisor, be sure that you are taking advantage of all the financial firm can offer. Many firms offer digital tools, including online spending and budgeting applications, tracking your investments held elsewhere and lending products. And you should meet regularly with your Financial Advisor to help ensure that your plan is kept up-to-date and reflects your current goals. Best of all, working with your Financial Advisor enables you to have someone who understands your goals, while looking out for your financial future.
If you don’t currently have an advisor, or if you are unhappy with the level of service you have seen, then please reach out today at www.partners-ps.com where your PS & Partners advisor is waiting to talk to you.