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Use a Professional or Go It Alone? 4 Benefits of Working with a Financial Planner

Use a Professional or Go It Alone? 4 Benefits of Working with a Financial Planner

| October 03, 2018

From stocks and bonds to real estate, life insurance, and more, it can be difficult to know where to start when mapping out your financial future. This is where financial planners come in. According to a 2016 survey from the CFB Board, 65 percent of Americans do not seek advice from a financial planner. In an era in which 40 percent of American workers aren’t confident that they will have the funds for a comfortable retirement, the data is concerning.  

Strategic partners with deep knowledge of often-confusing financial concepts and investment vehicles, financial planners can help people align their finances with their long-term goals in a comprehensive plan that is tailored to their specific risk tolerance, life circumstances, and more.

Financial planners offer numerous benefits when compared to going it alone:

  1. In-depth knowledge – Not all financial planners are the same. Seek out a CERTIFIED FINANCIAL PLANNER™ professional who has extensive, proven experience with advanced financial planning concepts and financial counseling. Unlike other financial planners, CFP® professionals are held to a high ethical standard and must complete ongoing continuing education to maintain their certification. They have extensive knowledge of money-related topics and can effectively recommend tactics and their potential impact on your personal portfolio.
  2. Access to the latest industry trends and technology – The financial world is constantly changing. Be sure to choose an advisor who stays abreast of new regulations, market changes, and technological advances in the industry, in order to better serve you. These days, technology has become an integral part of financial planning, with software and other tools that help planners improve your experience and access to financial information.
  3. Service that is aligned with your best interest – Many, but not all financial professionals, act as fiduciaries, meaning they must work with your best interests in mind. True fiduciaries become partners in whom you place great trust. There are other advisors who act in accordance with the commissions they can net from selling specific products, without taking all options and a holistic picture into account. The Pinnacle Financial Advisors team acts as fiduciaries for all clients, selecting the investments that they believe are right for their clients’ portfolios and goals. 
  4. A financial plan that aligns with your goals – Financial planning isn’t one size fits all. Select a financial planner who will help you create a plan unique to your goals. If you own a business and plan to travel extensively in retirement, your plan may look different than someone who works for a large corporation and plans to save for their child’s education. As your goals evolve, your financial planner should tweak your plan to ensure you’re on track.

By building a relationship with a planner that is rooted in your passions both now and in the future, you can begin your journey toward a strong financial legacy. Contact our team to learn more about our financial planning and wealth management services.