There are many benefits when it comes to working with a financial advisor. While most people think of an advisor as someone who makes investment recommendations, there is so much more to a healthy and productive relationship when it comes to working with a financial professional.Yes, investment vehicles and their potential returns are important to any conversation about money; however, at OFS Financial Services, we think more holistically about your financial well-being. From legacy and retirement planning to debt management, education savings and small business succession planning, we’re here to help identify the priorities and goals most important to you.
Here are what we believe are four of the most critical benefits of working with a financial advisor:
1. Personalized, professional guidance
When you work with a financial advisor, you’ll receive support from a dedicated professional who can help you bring your plan to life. A good advisor is a partner on your financial journey. They can help you craft a financial roadmap considering your specific goals, risk tolerance and financial situation.
An advisor can also help you evolve your plan as you prioritize new goals or manage life events. Scheduling regular check-ins allows you to review whether your needs and objectives have changed and require you to update your plan. Just like you visit your dentist every 6 months for a check-up and cleaning, it’s good to do the same for your finances.
2. Emotional Guardrails
Left alone, emotions often lead us to make irrational financial choices. A financial advisor provides perspective to overcome behaviors that can undermine your finances and keeps you focused on your plan.
A good advisor will help protect you from yourself, and if you have the awareness to know you occasionally make rash or emotion-fueled decisions, having those “guardrails” is invaluable. When markets take a turn for the worse, clients who do not collaborate with an advisor can make drastic changes to their portfolio without thinking through potential long-term consequences.
A good financial advisor can take the emotion out of the equation.
3. Tax Optimization
Financial advisors can help you develop strategies to minimize your tax burden. As you plan your investments, your advisor can identify which accounts are taxable, as well as help you navigate changing tax laws and regulations to help ensure your wealth remains yours. A financial advisor can help you optimize your tax strategy by identifying tax-efficient investment strategies, taking advantage of tax-deferred retirement account and maximizing deductions and credits.
4. Confidence
Perhaps the most significant benefit of working with a financial advisor is the confidence that comes from knowing you have a trusted partner guiding you toward your financial goals.
Schedule an Appointment Today
If you don’t have a trusted financial partner or if you’re looking for a professional who will be there for you every step of your life, we’d love the opportunity to set up a no-obligation appointment to share more about our process and the benefits of work with OFS Financial Services.