Communication is the foundation of any good relationship. financial professional. Regular meetings and communication through conversation, rather than email, will build trust and support your relationship, ultimately leading to a bright financial future.
Comfortable is not something that everyone can achieve. “getting personal”The beginning of a relationship. A professional financial advisor will put you at ease, and help you create a financial plan that will reach your goals. Your income, savings, debt, and life insurance coverage will all be discussed. They will also examine your attitudes toward risk, preferences for different investments, financial security, and priorities. These topics should be discussed in preparation for the meeting.
Life events: New baby, job loss, or purchase of a house can all impact your finances. Talk to your financial professional.
Market volatility: Investors should not panic about market fluctuations. However, the recent economic downturn has taught investors to keep their feet on the ground. It is important to address concerns that you may have about the long-term and short-term effects of this economy on your portfolio.
Tax law: Ask your financial professional during the first quarter of the fiscal year if there have been any changes in the tax code.
College funding: If you have kids, don’t be shy about reviewing your strategy to save for higher education.
Life insurance: Talk to your financial advisor about the coverage available and how it aligns with your goals and needs.
Regular conversations are important. It is important to set expectations for the type of relationship you would like with your financial professional. Your financial plan shouldn’t be complicated. “once and done”You should schedule regular visits to discuss any changes in your personal life that could affect your plan. Although you may be happy with only once- or twice-yearly meetings it isn’t necessary to have a quarterly check in.
Make sure that your financial professional has the same goals as you. Visit this site to find a qualified financial advisor. www.pennmutual.comStephen C. Target CLU is the Managing Director at 1847Financial. This Penn Mutual affiliate is located in Conshohocken. [email protected]Or call 610-771-1010.
