What to Expect When Working with a Financial Advisor SHP Financial

Working with a financial advisor is a big deal. In the same way a good doctor may know key aspects of your personal health, a good financial advisor will know the crucial aspects of your financial situation–all to help you improve your financial health and retirement longevity. That’s why it’s important to know what to expect when working with a financial advisor and understand where and how your advisor can improve your finances.

Understanding Your Financial Picture

The first step when you meet with most financial advisors is for them to get an accurate picture of your financial life. Before trying to sell you financial products, a good advisor may ask you questions about your asset levels and debts outstanding, future financial obligations, retirement expectations, and income, among many other factors. While they won’t ask about every little detail in the very first meeting, they need to know key factors that play into where your money is going and what your money is doing.

Digesting Your Savings, Investment, and Income Plans or Opportunities

They’ll then probably be interested in getting a sense of how you’ve saved, the retirement investment options you’ve utilized, and what income options you’re thinking about and should consider as well. Not only that, but they’ll likely consider tax implications, expected budgets, and costs along your retirement timeline and consider your estate and wealth transfer plan as a part of your overall financial situation and strategy.

Let’s take investing as an example of one aspect an advisor may focus on with you. They’ll look at how you’re currently invested, how you want to invest, and how you should invest. They may ask: Are you a more careful investor? Are you willing to take big risks? Does your current strategy match what you should be doing, given the financial goals you relayed to the advisor? These questions help them get that picture of where you may need the most guidance and what tools and options may benefit you.

As a part of that, your tax situation is also something that will likely be discussed in relation to many other parts of your financial strategy, including investment strategy. When it comes to financial planning, much like the human body, many aspects of your financial life are interconnected in unique ways.

A Financial Advisor Puts the Pieces Together

Ultimately, all these questions will allow an advisor to understand how the breadth and full scope of your financial timeline can be better strategized to meet your goals. Getting the most out of your savings is the best way to do justice to all that hard work you put in while saving for your golden years.

A great benefit of a financial advisor is that they can help create a customized plan based on your unique financial profile that works to meet your needs and goals. Having apprehensions about engaging an advisor is understandable, but remember that taking that first meeting with one is no different than going to a doctor to communicate your health situation as best you can so that they can help steer your health practices in the right direction or offer you solutions and next steps that may work best for you. A good financial advisor takes the same approach to your financial health. Click HERE to contact us today at SHP Financial to take the next step toward improving your retirement and financial health.


The content presented is for informational purposes only and is not intended as offering financial, tax, or legal advice, and should not be considered a solicitation for the purchase or sale of any security. Some of the informational content presented was prepared and provided by tMedia, LLC, while other content presented may be from outside sources believed to be providing accurate information. Regardless of source no representations or warranties as to the completeness or accuracy of any information presented is implied. tMedia, LLC is not affiliated with the Advisor, Advisor’s RIA, Broker-Dealer, or any state or SEC registered investment advisory firm. Before making any decisions you should consult a tax or legal professional to discuss your personal situation.Investment Advisory Services are offered through SHP Wealth Management LLC., an SEC registered investment advisor. Insurance sales are offered through SHP Financial, LLC. These are separate entities, Matthew Chapman Peck, CFP®, CIMA®, Derek Louis Gregoire, and Keith Winslow Ellis Jr. are independent licensed insurance agents, and Owners/Partners of an insurance agency, SHP Financial, LLC.. In addition, other supervised persons of SHP Wealth Management, LLC. are independent licensed insurance agents of SHP Financial, LLC. No statements made shall constitute tax, legal or accounting advice. You should consult your own legal or tax professional before investing. Both SHP Wealth Management, LLC. and SHP Financial, LLC. will offer clients advice and/or products from each entity. No client is under any obligation to purchase any insurance product.
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