As we approach the Super Bowl, imagine having a financial ‘quarterback’ who can not only deliver a well-balanced and diversified investment portfolio, but who understands the new tax laws and what decisions you should make in response. Consolidating your accounts so that a trained professional can make sense of it all may give you peace of mind and the time you need to focus on other interests.
Maybe you have thought it best to spread your ‘nest egg’ around to several advisors to balance the risk. But what if actions taken by one negate or duplicate the actions of another? And can the tax considerations really be coordinated across so many accounts effectively? In my opinion, the answer is no. If you work with more than one advisor it defeats the purpose, because you (the client) end up being the coordinator.
Much like a primary care physician, you need someone who can see the big picture. The right advisor can monitor, manage, and implement a strategic approach. You may want to interview 2 or 3 advisors to be able to compare and contrast their recommendations.
Now imagine how it feels to know you can trust your advisor. I suggest hiring a fee-only advisor, because they have a fiduciary duty to act in your best interest. Last but not least, I recommend working with a CFP® professional. This ensures an across-the-board education in many important areas and someone who may be willing to work together with your estate attorney, CPA, or insurance professional to accomplish your goals.
Having the right team put together can be a winning and rewarding experience!