What does a Financial Advisor Do, and Why do I need one?

Written by: Jordan Long | Financial Advisor | Trek Wealth Solutions
You are contributing to your financial future through a 401K retirement plan at work, you’ve lowered your credit card debt, your monthly cash flow is in check, and you’re even contributing to an investment portfolio outside your retirement savings plan. You’re starting to get the hang of this and feel pretty good about your financial situation. So why do you need a financial advisor? And what do financial advisors even do?
Allow me to answer your question(s) with a question.
What do Tom Brady, Michael Jordan, and Tiger Woods have in common? Regardless of who “your team” is, we can all agree that these three are world-class athletes. At the peak of their careers, they were arguably the best in the world at their sport. Yet, they all had coaches. Top athletes take professional advice about the sport in which they are legendary in their own right. What professional help did these coaches bring to the table?
Objectivity for your Financial Plan

Coaches and financial planners provide unbiased observation, analysis, and the ability to see the world through a different lens. Tiger couldn’t step back and see his own swing.

Could you take a minute to think about that concept regarding your financial goals and how a financial planner can help you see your financial life through a different lens? That additional perspective can be the catalyst for your financial success and financial security. A financial planner has many of the same characteristics as an athletic coach. Financial planning is their sport. It goes beyond the basics of tax planning, analyzing spending habits, and helping you obtain more money—financial planning involves pointing out blind spots.
Accountability & Discipline for your Financial Life

Coaches hold professional athletes accountable. It’s no secret nor surprise that there is a direct correlation between accountability and performance in sports and wealth management. There’s a difference between knowing what to do and doing it. There are lawyers with no personal estate plan, handymen with homes in disrepair, and doctors with poor diets and sleeping habits. They know what to do, but they aren’t doing it. Having someone to hold you accountable and help you maintain financial discipline is a very valuable tool. A professional financial planner can help track your progress in both short and long-term financial goals. Your financial advisor can be instrumental to your financial well-being, whatever your financial goals.
Expertise and Focus in Setting Financial Goals
One of Tiger’s former coaches had a formal education in biomechanics. He helped Tiger hone in on precise movements. Having someone who can coach you in setting and meeting your financial goals can also be incredibly useful. It’s what they do every day. It’s like second nature to them. Invest in the best and create something exceptional together.
You probably know where I’m going with this. Having a coach is essential in many areas of your life. Even if you’re doing fine on your own and a comfortable retirement feels within your reach, there’s probably room for improvement in your financial plan. That’s where a Financial Advisor comes in. Financial advisors can help with goal setting, planning for your financial future, and achieving financial success. It’s more than just wealth management, retirement savings, and risk management – it’s about achieving greater overall financial well-being. It’s about achieving excellence.

Why not try a Financial Planning Coach?
One quote that resonates with me: “good is the enemy of great.” The variance between good vs. great can be pretty drastic. Utilizing a coach could take your financial success to the next level. Or, maybe you are worried that you don’t have enough money for retirement. In that case, your decision to work with a financial advisor to develop a comprehensive financial plan is even easier. No matter where you shake out on the good to great spectrum, remember that even top athletes need coaches.

Have questions or want to connect? Inquire on our website, or reach out to me on LinkedIn:

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