Recently, I read a blog article by a Bob Seawright titled, “Financial Advice: A Top Ten List”. The article describes how financial planners provide clients with a far greater benefit than just investment returns. Bob provided an excellent list of ancillary benefits. His list is spot-on and a worthy read by anyone considering a financial advisor. Bob’s list is shown below and the full article can be found here.
1) Goal Formation
2) Investment Policy Statement
3) Asset Allocation
5) Risk Management
6) Behavioral Management
7) Productive Simplicity
8) Senior Protection
9) Tax Efficiency
10) Financial Planning
In fact, I would even add two additional items to round out a dozen.
11) Time Savings – For many clients, having a financial advisor frees up time to spend with family and friends.
12) Second Opinion – Peer review is commonplace in academia and most professions. Why wouldn’t you want a second set of eyes on your retirement plan?
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