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How to Begin Your Relationship with a Financial Advisor

Starting a relationship with a financial advisor can seem challenging, but it’s actually much easier than you might think. From finding an advisor to building a warm working relationship, your journey can help build your confidence in your financial future. If you’re ready to work with a professional who can guide you toward your financial goals, here are a few tips on how to begin your relationship with a financial advisor. 

Don’t be intimidated.

When you first hire a financial advisor, it’s natural to feel embarrassed about the state of your finances. You may feel intimidated or as though you should wait until you have things in better shape. Just remember, though: they are there to help. They’ve likely seen it all. Organizing and optimizing your finances is their vocation. Don’t let the intimidation factor keep you from seeking out sound financial advice.

Be honest, transparent, and open.

Like doctors, financial advisors are there to help you assess your situation and suggest steps to help improve it. However, they can only give you helpful guidance if you’re honest with them about your finances. Don’t be afraid to be candid with them about student debt, credit cards, or monthly expenses that are non-negotiable. The more straightforward you can be about your finances, the more accurate your financial diagnostic assessment will be.

Share your hopes and dreams.

Financial advising shouldn’t be about pouring over bank statements and tightening budgets. Sound financial advising can help you achieve your future goals while also empowering you to enjoy your life in the present moment. In order to plan for the future, don’t be shy about sharing your hopes and dreams with your advisor. 

Is it your goal to own a vacation home? Do you have a love for vintage or classic cars? Is it your dream to pay for your children’s college education? Or, maybe you’re intrigued by the idea of retiring early

Financial goals look different for everyone, and your financial advisor won’t know your priorities unless you share them. Then, an advisor can suggest investment strategies and spending and saving choices that fit your plans. 

Ask every single question that comes to mind. 

When it comes to financial matters, there are no silly questions. The more information you have, the better when it comes to learning about an investment strategy, a state or federal policy, or the capacities or limits of a type of account. When you meet with your financial advisor, bring a notebook, smartphone, or laptop to write down pertinent information. The financial world is full of complex concepts, numbers, and very specific rules. Having your own personal reference can help. Ask for a definition of anything you don’t understand, and if one explanation isn’t enough, ask for another. Many financial advisors enjoy helping their clients understand personal finance, so you won’t be bothering your advisor by asking specific questions. Instead, your engagement in the process will reflect well on you. 

Ready to Meet With a Financial Advisor for Guidance?  

Southwestern Investment Group has over twenty years of experience helping individuals, couples, and families strive to meet their financial goals. To prepare for the future and assess your current financial picture, meet with one of our advisors today. Your financial journey starts with taking that single, important step. We can’t wait to learn more about where you want to go and how we can help you get there.

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