By Taylor Nipp / Contributor
Few things are as dynamic as technology and finance. In an ever-changing world, it’s difficult to keep up with the most current trends. As a wealth manager, it is my job to stay abreast of the latest information in the world of finance and investments in order to help my clients make well-informed and intelligent decisions with their money. You may be asking yourself whether you need an advisor to help with your financial planning. Consider the following questions to determine if a financial planner could help you secure your future.
At what stage of life can an advisor be helpful?
We see a lot of clients facing what I call “pivotal life events” – new baby, job change, kids going to college, approaching retirement. Those are certainly times when re-evaluating your portfolio and your financial position are very important. The truth is, however, that many financial decisions are best established early.
For example, when considering the best ways to save for your child’s education, there are several pre-tax options to consider. I often suggest 529 educational accounts. The gains in these accounts are tax-free, and starting as early as possible will allow you to maximize those investment earnings.
How do I select an advisor?
You can begin by ensuring they have the proper credentials. Having obtained a Certified Financial Planner (CFP) certification lets you know they have the expertise, and being a fee-only firm lets you know where their allegiances lie. Ultimately, the bigger question is whether the advisor is a fiduciary for you. Will they act in your best interests? If their job is to sell products, then they may not be focused on looking out for you. There should be complete disclosure.
At SFMG, we work hard to build a personal relationship with our clients. We strive always to be a trusted advisor they can contact any time with questions or concerns. A good advisor gives you confidence for life.
What can an advisor do for me that I can’t do for myself?
What it boils down to is that a wealth manager has the time and expertise to help you evaluate your options and make the best possible decisions. You have your own job and family to focus on – a wealth manager’s job is to help you. Our clients know they can call us for anything related to their financial well-being, even if it requires an outside resource. If they have questions about life or disability insurance, long-term care needs, estate planning or even buying a new car, we want to be their first call. With our advisors’ vast array of experiences, there’s not much we haven’t seen.
It’s challenging to put a value on your financial peace of mind. A financial advisor can increase your wealth, not only through your investments but also because of the partnership between the two of you.
Editor’s Note: Taylor Nipp is a Certified Financial Planner and a partner with SFMG Wealth Advisors, an independent wealth management firm based in Plano, TX. For more information,
