3 Reasons to talk to your Financial Advisor about more than just your Retirement

Financial plans are holistic, they aren’t simply retirement analyses. After all, as we’ve discussed many times on this blog and on our podcast, Today y Mañana, everything from your estate planning to your risk management can be a part of it. Leading us to the first reason to talk to your financial advisor about more than just your retirement:

1)      The Network

Financial advisors, during the course of their business, have to interact with hundreds of individuals and businesses about everything from selling their home to insuring their stamp collection to leaving something for their grandkids to planning for their child’s education.

Each interaction refines the knowledge and network they already have, meaning that your financial advisor has probably worked with agents in every field before or at least can point you in some directions. Finding the right fit for your needs can be an onerous process, but luckily your financial advisor might be in a position to steer towards someone they trust and knows can work well with you, or has the expertise you’re looking for.

2)      Is that what is best for you?

Let’s say that you’ve made the decision to buy a home. How much can you afford? What about interest rates and mortgage rates and monthly payments? The whole buying experience can be daunting, but rest assured, that your financial advisor can perform an analysis for you and probably help you understand what is best for your situation, not only helping the process smooth its way along, but also helping you with the peace of mind that it’s well in your ability to afford it.

Take insurance. A lot of folks don’t really understand when there is a need for the different insurance products that exist in the market. What is umbrella liability? Does my homeowner’s insurance cover enough of my house? What about life insurance? When do I know I need life insurance?

Financial plans are made for these reasons, after all. They fire-test your financial life to uncover your strengths and weaknesses. Financial advisors can then put you at ease about whether or not you’re missing an important aspect of your financial life.

3)      More poignant decisions can be made

Financial advisors can help perform these analyses, not only helping you decide which ones are right for you, but also, with their familiarity with the products and services of other businesses. Businesses often having unique offerings that financial advisors can steer their clients to, resulting in greater value per financial decision.

Whether it’s riders to insurance products or having a conversation with another professional who can better guide you, financial advisors can help you with more than just your investment and retirement decisions.

I’m Nickolas Urpí

From Emergent Financial Services

Catch us on Today y Mañana on the iLove Cville Network every Thursday at 10:15 and contact Emergent Financial services for all your financial planning needs

From 401(k)s to rollover IRAs to Roth IRAs to Retirement planning.