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How Can I Achieve My Financial Goals With the Help of a Financial Advisor?

How Can I Achieve My Financial Goals With the Help of a Financial Advisor?

6 Jun 2022

Setting realistic financial goals is only half the battle in your quest to retire on time and live life to the fullest. The other half requires in-depth planning to achieve those goals. Of course, you can do it alone, but that may create more financial stress, inaccuracies, and add items to your to-do list—resulting in less wealth accumulated over time. 

The assistance of a financial advisor can help you convert your financial dreams into reality. You need a trustworthy, fee-only, fiduciary CERTIFIED FINANCIAL PLANNER™  Professional (CFP®) on your side to establish reachable goals and achieve them on your timeline.   

 

Start setting financial goals through professional financial planning in Akron-Canton, OH, with McGervey Wealth Management.

 

Financial Planners are Not all the Same

Recognizing the value provided by a financial advisor is essential, yet it is not enough in and of itself. Instead of choosing the first planner you find in a Google search or leaning on the guidance of a CFP® recommended by a friend, perform your own due diligence. In short, you need and deserve a fiduciary, fee-only CERTIFIED FINANCIAL PLANNER™ Professional near you. 

Fiduciaries are professionals who have a duty of care to you, the client, meaning they will recommend investments, products, and services that are most likely to advance your financial interest.  

The professional you choose should be fee-only instead of commission-based. This means the professional is paid a flat rate rather than tempted to rack up commissions by recommending investing in products/services you do not desire, need or benefit from. Choose the right financial advisor in Akron-Canton, OH, and the stage will be set for you to establish a realistic financial roadmap to success and reach target benchmarks in accordance with your selected timeline.

Read: 7 Tips to Consider When Choosing a Financial Advisor

Let the Professional Crunch the Numbers

Even if you pride yourself on your ability to perform quick math, you still need the expertise and guidance of a proven advisor. A CFP® does more than run mathematical calculations—they will analyze your unique financial picture, arrange your finances appropriately, and plan for your comfortable future.

Your planner will analyze everything from your income to your investments and savings to help you meet your timeline for retirement. Relying on this professional for guidance is vital in deciding what percentage of your income should be invested, saved, and spent. Proceed accordingly, and you will have a guiding force that will help you reach your financial goals for years to come.  

The essential component of financial planning is that the professional’s advice is tailored to the peculiarities of your finances. Provide every last detail of your financial picture, and they will have the information necessary to: 

  • Forecast your financial future
  • Help you choose the suitable investments 
  • Budget your money in a way that helps you achieve your financial goals

Investment Advice Tailored to Your Financial Situation

The optimal blend of liquid cash savings, stocks, mutual funds, ETFs, and other investment vehicles for your financial picture is not the same as that for one of your colleagues or your neighbor. Your financial situation is uniquely yours—you need and deserve custom-tailored financial planning.  

Investment advice is a significant component of financial planning. Choose a fee-only fiduciary planner as your financial guide, and they will provide comprehensive financial planning specifically for you. These active investment managers: 

  • Help you allocate money in a strategic manner
  • Actively alter your investments based on your financial aims
  • Apply portfolio decisions based on your tolerance for risk
  • Plan for changing domestic/global economics 

Your planner will monitor the pulse of the stock market, economy, and geopolitical scene, adjusting your investments as necessary so you don’t have to. All you have to do is tell your CFP® your level of comfort in terms of risk tolerance, and your hard-earned money will be invested based on your selected level of risk and timeline for retirement.  

Advisors go beyond merely projecting potential returns—their services are rooted in sound financial planning based on facts and figures then presented through financial modeling you can understand. They should have an MBA degree, extensive education, and decades of experience in the finance industry. This client-oriented approach accounts for optimal diversification and risk mitigation, creating an opportunity to build wealth in both bull and bear markets.  

Your advisor’s advice regarding investing and saving doesn’t have to shape your investment portfolio and subsequent pivots completely. If you favor specific industries, have a particular risk tolerance, or have other special requests in financial planning, communicate them to your CFP® so they can be incorporated into your overarching financial plan.  

Your professional will provide comprehensive, personalized guidance based on your input and preferences to help you remain on track to reach your financial aims, such as: 

  • A timely retirement
  • A mid-career break from the workforce
  • Saving for a child’s college education
  • Or traveling the world

A Relationship That Evolves With Your Finances

Your personal finances are dynamic, meaning they are in flux. Even if you have amassed a large nest egg of savings and investments, that egg can shrink or expand as time progresses. Factor in the potential for promotions, job loss, an inheritance, bull/bear markets, and your financial future becomes even more uncertain.  

The best financial advisors recognize that clients’ finances and the economy are not static and tailor financial advice accordingly. Choose wisely, and your financial advisor will alter your financial strategy as your finances, and the world around you take shape. The top in the industry perform periodic reviews and engage clients through meetings to alter their investing and saving strategies per the dynamics of personal finance, the economy, the stock market, and other factors.

Choose a planner willing to pivot based on your financial preferences as well as the evolution of the world around you—making strategic adjustments on your behalf as often as necessary. You can do your part to meet your timeline for financial goals by interacting with your CFP® at specific intervals that provide an opportunity to review, reflect and alter your financial strategy, keeping you on track to reach your financial goals. 

Take the First Step

It pays to explore your options carefully. Get started today by scheduling a no-obligation call with our team. At McGervey Wealth Management, our full-cycle investment process helps protect and grow your assets no matter the state of the economy or market.

 

Ready to discuss up-leveling your investment strategy? Reaching your life goals includes various financial strategies that are best left to a trusted advisory firm like McGervey.

 

Read more about who we serve and take the time to explore our valuable quick guides to make sure we are a good fit for you. 

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More About the Author: Michael McGervey

Michael serves as a resource to executives and business owners, assisting them in making proactive and informed personal financial decisions. He is also a member of McGervey Wealth Management’s Investment Committee and is responsible for investment research as well as the execution of the firm’s portfolio strategies.