3 Financial Planning Myths
By Alex Roig
Having been in the financial industry for well over a decade, certain myths and misconceptions about the financial industry seem to arise over and over, especially when it comes to hiring a comprehensive financial planner to manage your assets. Below are the three most common myths – and why you should ignore them.
Myth 1 – I’ve hired a planner – now I don’t have to do anything because my advisor is handling it.
Actually, once you’ve hired an advisor, it’s time to become even more involved in your finances. At Family Financial Partners we encourage all of our clients to educate themselves and to take an active role in their money management. That means knowing where and how your money is invested, coming in for regular update meetings and staying on top of industry trends and market performance. Our team will help you sort through all the financial information floating around there so you can be the best possible steward of your hard-earned money. Knowledge is power, and the more you know, the better questions you can ask of us, and the better we can help you work toward the future you want. Our approach is to work with you, not in place of you.
Myth 2 – A financial planner only gives investment advice.
Wise investing is certainly a vital part of any financial planning service, but our team approach at Family Financial Partners means we offer much more than that. Our clients’ financial lives are multi-faceted and affect every area of their regular daily lives. From insurance to estate planning, retirement to education planning and taxes to budgeting, comprehensive financial planners will cover it all. We’re here to answer any questions you have that pertain to your money, not just investing questions, We will always consider your overall financial goals and individual situation when you do have questions or concerns.
Myth 3 – I’m not rich. I don’t need a financial planner.
This might be the most common myth of all. Everyone, no matter the size of their portfolio, can benefit from professional financial advice. This is precisely why we do not have a minimum requirement to become a client at Family Financial Partners. Financial planning is about building trust, building wealth and working toward financial goals, wherever the client might be starting from. Our team will ensure that each and every client feels valued and listened to as we hold them accountable to their financial objectives and help them work toward their dreams. Either through Family Financial Partners or our newly launched website, FeeForPlan.com, there’s an option to fit your budget and comfort level.
Have you fallen into believing any of these myths, or heard your friends or colleagues falling into any of these traps? Give us a call or pass our name along – we’re here to answer questions, dispel myths and help each and every client work for the financial future they dream of.