Making wealth management work for you seems like the most natural part of wealth management in principle. After all, achieving your goals is supposed to be the goal of the entire process! Without the right partners, however, you may find it doesn't work at all or as well as you hoped.
So, how do you know if you have the right partners? A simple evaluation is usually the best place to start, and it's probably the way you would approach other services or individuals providing professional services in your life. You might evaluate the cost of services, the benefits of the services you are receiving, or you might dig deeper and assess whether your values and your vision for the future are in alignment with your advisor or team.
It can feel challenging to reconsider the personal relationships you may have built with your financial advisor or wealth management team. Also, if you don't feel you have those personal relationships, that might be a significant indicator that an evaluation is in order. It can also be overwhelming to start evaluating your current advisor or team and reaching the conclusion that you might need to transition to a new advisor or team.
Here are a few reflections to help you determine whether the level of services you're currently receiving works for you.
Consider the following when it comes to their approach to more general financial planning services:
Consider the following concerning your investment performance, portfolio stability, and the level of coaching and guidance you receive:
You and your future should be your financial advisor's concern. Keep in mind that it is your life, your future, your finances, your family, and all of your hard work at stake. Your financial plans and goals are what matter. If you feel your financial advisor does not take your needs seriously, or always seems to have more urgent or pressing issues to attend to, you may want to consider looking for another.
Trust and transparency are critical components of the relationships between you and your financial advisors. They should be working with and for you, your finances, and your future.
If you have concerns or questions about your relationships, portfolio performance, or the expectations you should have for your financial advisor or team, we can assist you. We'll respectfully and confidentially work with you to assess where you are currently and make recommendations on whether market trends or a lack of performance is affecting your portfolio. A new perspective is a great way to gain knowledge about what you should expect from an advisor.
We encourage you to reach out to any member of our team for questions or more information, or you can reach out to me directly at cmh@hapanowicz-associates.com.