Posts Taged choosing-a-financial-advisor

What to Expect After Your First Visit With Your Financial Advisor

Financial Planning - Puckett & Sturgill Financial Group

The first meeting with your financial advisor is a starting point meant to clarify your values, current financial situation, and long-term goals. It should form the basis of a transparent, symbiotic relationship where the advisor helps develop a plan that links where you are today with where you anticipate wanting to be in the future and helps you make course corrections to keep you on track as things change along the way.

It’s what happens after your first visit with your financial advisor that sets the course for your future investment strategy and goal setting. Here’s what you should expect to happen after that initial discovery meeting.

Receive a Personalized Financial Recommendation

After your discovery meeting, your financial advisor will synthesize the information you provided and work to develop a financial recommendation that makes sense for your lifestyle and goals. Likely, your advisor will identify a few possible investment routes for you to choose from.

The information shared in your first meeting will give your advisor the inputs necessary to develop a personalized investment plan for you. Just because one investment style works well for other investors or you’re interested in a popular retirement plan doesn’t necessarily make it the right fit for your lifestyle and goals. Your financial advisor should be able to help you understand why certain investment options are better for you specifically.

Choose a Financial Path and Make a Commitment

After you receive your financial recommendation, you’re well on your way to the path that is best for your lifestyle and goals. And remember, your financial advisor should be able to assist you with decisions and implementation each step of the way. If you have questions or concerns, your advisor can point you toward answers that’ll make your decision process go more smoothly.

When you’ve settled on a recommended plan, your advisor can give you the guidance you need to put that plan into action. This include working through initial steps to set up your portfolio, as well as putting checks in place to keep track of your progress.

Keep in Touch with Your Financial Advisor

Once you’ve chosen a financial plan to follow, you’ll continue to work closely with your advisor to stay up-to-date on your investments and make changes to your portfolio, when necessary. Even if you and your advisor agree on a plan at the outset, it may not be appropriate for you over time. And there’s nothing wrong with that; in fact, it’s to be expected that you’ll need to change course once or twice along the way.

It’s important to stay in touch with your advisor through regular communication and maintenance meetings. This way you can stay on top of your portfolio and make updates as needed.

If you’re looking for a personalized financial recommendation to inspire your financial future, contact Jacob Sturgill.

What to Expect from Your First Meeting with Your Financial Advisor

So, you’re ready to meet with a financial advisor! You’re ready to sort out your finances and take positive steps to make solid financial decisions for your future. Whatever your goals, you know that working with a professional can help you progress toward them in a balanced way that aligns your values with your investment decisions.

Maybe you’ve got a meeting on the books or you’re getting ready to pick up the phone and make that call to schedule one, but you wonder: what is this meeting going to be like?

Read on to learn more about what you should expect from your first meeting with your financial advisor, as well as what you should bring along to that appointment.

The Purpose of a Discovery Meeting

Your first meeting – or discovery meeting – will lay the groundwork for your relationship with your financial advisor going forward. Of course, you are meeting with your advisor to get financial advice, but it’s important that you and your advisor are on the same page before they can offer that advice.

After all, building an investment portfolio certainly isn’t a “one size fits all” approach. There’s no one formula that works well for all investors at all points in time.

Your advisor needs to know who you are as a person (or couple, if you’re seeking counsel with your spouse), what your values are and how your finances play into your long-term personal goals. After all, you ideally want to use your finances to fuel something, whether that’s your retirement, estate or anything else.

What You Should Bring to Your Discovery Meeting

At your discovery meeting, your financial advisor will ask you specific questions about your money, both to learn where you are now and where you’d like to be. This may be a tough conversation, especially since money isn’t often a topic for everyday discussion.

One of the most important things to bring to your discovery meeting is an open mind. Establishing a working relationship with your advisor requires transparency and openness in order for you to get the most out of your recommendations going forward.

You also want to bring a summary of your finances and holdings in order to give your financial advisor something to work with. Of course, these don’t tell the whole story and you will want to bring along a summary – even just a verbal one – of your goals and ideals as well. Again, the purpose here is to give your financial advisor a big picture view of your situation specifically.

What Your Financial Advisor Should Bring to Your Discovery Meeting

Since the purpose of your discovery meeting is to establish a relationship with your financial advisor, you should expect your advisor to bring a few things to the table as well.

Most importantly, your financial advisor should listen carefully throughout your conversation to gauge your goals and values, and to get to know you better. After all, you’ll be working together on important financial decisions going forward. It’s imperative that your financial advisor does their best to get to know you before stepping in to offer advice and recommendations.

Additionally, your financial advisor will work with you determine how often you should meet after your initial meeting. Remember, you’re establishing a working relationship, not simply having an initial meeting just to get a folder full of recommendations.

Are you ready to get a better understanding of your finances? Set up a discovery meeting today!

Important Disclosures:

Securities and advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC.

Before You Decide…Know This

Deborah Williams, CFP®

Decisions, decisions, decisions. Every day we have to make them. The super significant ones… like who we marry, where we work and live, and what we do with our money… are not always easy. Wouldn’t it be nice to be able to see into the future before having to decide? Unfortunately, we don’t have this ability. If you are facing a super significant financial decision in the near future, I’d like to share an insider’s perspective regarding what you should know.

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