Twenty years of experience in the financial services field has taught me that getting through the many and varied life transitions you will face and the financial implications attached to them is a big mountain to climb.


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And like any significant journey, it’s best to head into it prepared, with a knowledgeable, trustworthy guide. Many families never seek the advice of a wealth management advisor. Why is it important? I’m a firm proponent of focusing your time and energy on what you do best and surrounding yourself with the best people for everything else. Steve Jobs once said, “It doesn’t make sense to hire smart people and tell them what to do; we hire smart people so they can tell us what to do.”

So how do you do it? Here are some basic issues to consider.

Identify What “Wealth” Means 

First, you need to identify what wealth means to you and how best to manage it. Yes, it’s different for everyone, and it’s not necessarily just about money. It’s about living the life you want. Wealth may mean being able to purchase your first home, paying for a wedding, retiring on your own terms, taking your business to the next level, then ultimately, transitioning it, sending children (or grandchildren) through college, caring for an aging parent or leaving a legacy. Remember, reconciling your dreams to your finances is what a good wealth management advisor should help you accomplish.

Choose An Advisor Who Understands

Choose a financial advisor based on your definition of wealth. If, for example, you are a business owner, it helps to have an advisor with experience in owning their own business. If one of your goals is to get care for an aging parent, look for an advisor with the appropriate network or who has gone through that themselves. You wouldn’t go to a podiatrist when you have a toothache, you would seek the best dentist. Nothing beats firsthand experience.

Make A Plan

You will need a financial plan. Remember, wealth management is a long, winding road. You wouldn’t head out into an unknown area without your phone’s GPS to guide you. It’s a simple tool that can make all the difference. The same thing can be said for a foundational financial plan. Remember to pick an advisor who can make things simple for you, one who can ask the questions you haven’t considered. Build a plan that helps filter out the noise and becomes that road map that guides you to your wealth.

Ultimately, attaining your wealth will depend to a large degree on a successful investment strategy, so remember to find an advisor who can offer unbiased advice, varied product-based solutions and is capable of acting in your best interest. Also remember that achieving your goals is a marathon, not a sprint. Goals-based investing isn’t sexy, it’s methodical and disciplined. It’s funny how when investing, like in no other areas in life, people seldom want to buy when things are on sale. Warren Buffet has shared for investors to be “fearful when others are greedy, and greedy when others are fearful.” A good advisor can help minimize your emotions when it comes to investing.

Not quite ready to pick up the phone and call an advisor? Admitting you are not your own best wealth manager can be a tough conclusion to reach. But consider what it looks like to fire yourself and hire a financial advisor. You can continue to be a guide for your family while avoiding a wrong path of your own choosing.

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Tami Romanchuk, CFP, CLU
Financial Planner
Shoreline Financial & Insurance Services Ltd.
Office : (250) 475-6601
Toll Free : 1 (800) 385-4413
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