8 Things Your Financial Advisor Should Be Doing

A financial advisor helps people create long-term strategies for building wealth and managing risk. They can help you track, manage and balance your investment portfolio. They can also provide helpful advice on lots of other financial issues and decisions.

Here are eight things your financial advisor should be doing to help you achieve your financial goals:

1. Developing a comprehensive financial plan: Your financial advisor should work with you to develop a personalized financial plan that takes into account your current financial situation, long-term goals, and risk tolerance.

2. Regularly reviewing and updating your financial plan: Your financial plan should be reviewed and updated regularly to ensure that it remains aligned with your goals and reflects changes in your personal or financial situation.

3. Providing investment advice: Your financial advisor should provide investment advice and recommend a portfolio of investments that aligns with your goals and risk tolerance.

4. Monitoring your portfolio: Your financial advisor should regularly monitor your portfolio and make adjustments as needed to ensure that it remains aligned with your goals and risk tolerance.

5. Educating you on financial matters: Your financial advisor should help you understand financial concepts and make informed decisions about your money.

6. Providing tax planning advice: Your financial advisor should help you develop a tax planning strategy that minimizes your tax liability and maximizes your after-tax returns.

7. Helping you plan for major life events: Your financial advisor should help you plan for major life events, such as retirement, buying a home, or sending your children to college.

8. Being transparent about fees: Your financial advisor should be transparent about their fees and help you understand how they are compensated for their services.

Remember, it’s important to work with a financial advisor who has your best interests in mind and who is committed to helping you achieve your financial goals. If you feel that your financial advisor is not meeting your needs, don’t be afraid to seek out a new advisor who can provide the support and guidance you need.