My husband and I scheduled an appointment with a financial planner this week to talk to someone about making our money work for us. I had questions about reducing our tax burden, how best to position our investment dollars to meet our retirement goals, and how to make sure that we’ve used our surplus income efficiently to align with our desires and values and also protect what we’ve built together. It was really a time to get to know our advisor and see if we were a good fit. The key takeaways from our initial interview were:
Understanding the planners approach to finance: Our advisor explained the financial planning process and how she establishes goals and helps us achieve them. She also outlined the methodical approach she takes to gathering our financial data, building a case analysis, presenting her strategy, implementing that strategy and finally, following up for review.
Understanding how we can best work together: We discussed the need for foundational advice and advice that looks at the whole picture. We put the wealth management services aside for now but we are going to take advantage of the estate planning services, something my husband and I hadn’t really considered before.
Understanding her financial planning fees: After discussing details like our household income, net worth, and income sources, our planner labeled us “medium complexity”. She quoted us a rate of $125 per month – this includes four face to face meetings per year, and access to her expertise on an on-going basis.
I would recommend you take the time to meet with a financial planner and see how you can make your money work for you.
Do you meet with a financial planner? Let me know in the comments below.