The Benefits of Investing with a Financial Advisor
Our finances impact nearly every aspect of our lives; as such, it is essential to ensure that you are in control of your financial well-being. A financial advisor can help to bring you closer to both your short- and long-term goals. Through creating personalized savings strategies, creating a custom financial plan, selecting investment products, and working through estate considerations, a financial advisor can help to develop goals and strategies to promote financial well-being.
In fact, Canadians who work with an advisor are significantly more successful at building wealth and achieving their financial goals. Over a 15 year period, research demonstrates that Canadian investors who worked with an advisor have almost 4 times the assets of investors who didn’t work with an investor.
A financial advisor can help you to:
Plan for retirement;
Prepare for the unexpected;
Build wealth and achieve your financial goals;
Keep your financial goals on schedule;
Manage investments;
And increase your savings.
Financial advisors can develop and implement a holistic and comprehensive financial plan customized to your financial objectives and goals. During the discovery phase, a financial advisor will work with you to establish a clear timeline, and to gather all of your financial and personal information. This includes income, expenditure, assets, liabilities, risk attitude, tolerance, and capacity. Over 80% of investors say that their advisor helped them to increase their savings.
One your financial plan has been implemented, a financial advisor will work with you to develop a plan for implementation and ensure that it is carried out in accordance with the agreed-upon schedule. This may involve a new pension or investment strategy, additional life or serious illness insurance, income and expenditure adjustments, among other things.
Since financial planning is a dynamic, on-going process that requires continuous monitoring, advisors will proactively review your portfolio to ensure that your goals are being met and meet meet with clients annually to take account of any changes in income, asset values, business or family circumstances - as well as your evolving financial goals.