Portfolio Management

The Benefits of Working With a Financial Advisor

The Benefits of Working With a Financial Advisor
December 20, 2023

Working with a financial advisor provides many benefits that can lead to better financial outcomes. As your trusted partner, an advisor offers expertise, guidance, and accountability to help you effectively manage your finances and work toward your goals1. Here are some of the top reasons to work with a financial advisor:

Expertise and Professional Knowledge

Financial advisors have  training and access to professional resources that most individuals lack. They stay current on the latest financial strategies, products, regulations, and market conditions to provide informed, tailored guidance based on your situation14. This expertise can give you confidence that your finances are in good hands.

Personalized Financial Planning

A good advisor takes the time to understand your financial situation, goals, time horizon, risk tolerance and other personal factors in order to create a customized financial plan1818. This roadmap outlines actionable steps tailored to your unique needs and priorities to help you achieve what matters most.

Investment Management and Portfolio Construction

Advisors can help construct an investment portfolio that aligns with your risk appetite, time horizon, tax situation and other considerations15. They handle ongoing portfolio management, including rebalancing and tax-loss harvesting, so you don’t have to worry about making complex investing decisions.

Financial Discipline and Emotional Guidance

Left alone, emotions often lead us to make irrational financial choices. A financial advisor provides perspective to overcome behaviors that can undermine your finances and keeps you focused on your plan16.

Retirement Planning and Wealth Preservation

Retirement requires planning around Social Security, income strategies, healthcare, taxes and more. An advisor can  look at your whole picture to build a retirement plan that prepares you for risks and gets you on track10.

Risk Management and Insurance Planning

Advisors can evaluate risks you face and recommend solutions, including various types of insurance, to protect you and your family10.

Tax Planning and Optimization

There are many legitimate ways to reduce taxes that most individuals don’t know about. Advisors develop tax-efficient strategies to help you to  put more money in your pocket1.

Education and Empowerment

A good financial advisor educates and empowers you to make informed decisions10. While relying on their expertise for complex issues, they want you to understand the basics so you can be an engaged partner.

In summary, working with a financial advisor goes far beyond investment selection. Their guidance can lead to better financial outcomes and help give you confidence you are pursuing the right path16.

To get started with a financial advisor, contact Savvy  today! Our advisors create personalized plans to help you achieve financial success.