Value Provided By Working With An Advisor
- Develop financial goals
- Create a timeline
- Understand risk tolerance and expected rate of return
- Use data to analyze existing investments, and make recommendations about what to do going forward
- Provide access to many types of retirement accounts to use (IRA, Roth, 401(k), etc.)
- Understand insurance—what type and how much (including life, long-term care, disability, and even property, casualty , and health insurance)
- Determine asset mix
- Create a plan for retirement
- Understand and communicate risks
- Estimate expected rate of return
- Help decide which investments to own in non-retirement accounts
- Look for ways to reduce taxable income
- Understand taxes incurred when they buy or sell investment
- Identify how much they need to save
- Manage an emergency fund
- Explore what changes might improve their tax situation
- Discuss leasing an automobile versus buying
- Mortgage refinancing
- Cash management
- Commercial financing/lending
- Vacation property evaluation
