What Do Financial Planners Do?

There has never been a better time to consult with financial planners.

After all, around half of non-retired adults in the U.S. say that the economic impact of COVID-19 will make it more difficult for them to achieve their long-term financial objectives.  Add on top of the pandemic and recent market volatility has made many investors nervous.

But what, exactly, do financial planners do? And how can you find the right one for you? Keep reading to get the answers you need to make informed decisions.

What Are Financial Planners Anyhow?

A professional in this space will help you create a plan to meet your long-term financial objectives. A good service provider will take a holistic — rather than a piecemeal — approach. The expert will help you with budgeting, investing, retirement planning, tax strategies, and planning whether it be personal such as estate, charitable, legacy, or for businesses with succession, executive compensation, key-man, buy-sell, and more.

You can’t assume that one professional is necessarily as competent and experienced as another. Some are experts in retirement planning, estate planning, investments, or other areas. And some have earned Chartered Financial Consultant, Certified Financial Planner, or Chartered Financial Analyst designations. Ensure you do your homework to find the right one for you.

What Help Can Financial Planners Provide You?

Only three in 10 families have a long-term financial plan in place. The global pandemic has underscored how uncertain things can be. Are you part of the 70% of families without a long-term financial plan? If so, there’s help available. The right service provider will help with things such as the following:

You’ll Get Help Strategizing Long-Term Plan

When you team up with the right service provider, you’ll get help putting together a long-term plan. This includes retirement, estate planning, investment planning, tax planning, and more. But you won’t just be handed a plan and left to fend for yourself. A reputable service provider will also monitor your plan on an ongoing basis to ensure that you achieve your objectives.  A properly executed financial plan isn’t handing a client a binder, but rather developing a living, breathing strategy that updates, and evolves in real-time as your life cycle changes.

Financial planners will also ensure your investments remain on target and that they’re doing what they’re supposed to do. The professional will actively monitor your plan regularly rather than just once a year.

When there are changes in your life or the lives of your household, the provider of financial planning services help will help you make any necessary adjustments to your financial plan.

You’ll Get Help Assessing and Managing Risks

You’ll also get help on the risk management front. A good provider of financial planning services will ensure you’re adequately covered. This means having the right property, casualty, and umbrella insurance policies to protect you and your family now and in the future.  It should expand into more sophisticated areas like concentration, income, tax, and unforeseen liability risk.

You’ll Get Help Looking Out for Your Family

Do you need help ensuring that your loved ones are taken care of after your passing? You’ll get help with things like wills, trusts, powers of attorney, and long-term legacy plans. It’ll be easier to sleep at night knowing that you’ve done what needs to be done to look out for your family.  Moreover, with the right planner, your loved ones have one point of contact for all issues that are financial in nature upon your passing.

Need Help? We’re Here for You

Do you want help from a financial planner you can trust? At Prevail Strategies, we don’t manage your wealth. We help you create it. Our goal isn’t just to help you plan for retirement. We’ll also help you plan for some of the pitfalls that can occur along the way.

Whether you want to schedule a consultation or to ask some questions, feel free to give us a call. We’ll be honored to help you in any way we can. You’re just a call away from taking the first step toward a prosperous and secure financial future. It’s one of the best decisions you can ever make, so don’t hesitate to contact us when you are ready to take control of your financial future.

Frequently Asked Questions

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Andrew Stafford

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We Make Financial Planning Stress-Free!

Our Team-Based Approach is Comprehensive & Easy

1

Learn About You

Your Vision
Your Objectives
Your Opportunities
Your Challenges
Your Entire Picture (ie. Business & personal)

2

Develop Custom Strategies

Based on your unique situation
Leverage our team of experts
Establish wealth creating strategies
Determine ideal source of asset transfer

3

Build Wealth

Agree on and implement strategies
Establish tracking tools
Communicate regularly
Support you with a financial BOD

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