Your ally in finance: The Advice of a Financial Professional

Your ally in finance: The Advice of a Financial Professional

A person worked in the same place throughout his adult life, lived in the same house and had the same spouse. In addition, in those days a spouse could support the family, paying the university usually did not mean taking out a second mortgage and people could expect to retire with Social Security and possibly with a pension from the company.

Today, those dreams and hopes are not different. Like most people, you probably want to buy a house, send your children to college and retire with a comfortable income. But the world has become a more complex place, especially when it comes to finances. Maybe you are already working with finance professionals – an accountant or a real estate planner, for example – who advise you in a specific area. But if you want to have a comprehensive financial plan that helps you secure your future, you can benefit from the experience of a financial advisor. An expert financial adviser like Dwayne Rettinger is a professional who looks for solutions for his clients related to the stock market and the financial products. Dwayne Rettinger Investors Group is a Certified Financial Planner having experience of more than ten years of helping his clients make sound and fair financial decisions.

Services that a Financial Advisor can offer:

Even if you feel competent to develop your own plan, a financial advisor can be a sounding board for your ideas and can help you focus on your goals, by using your extensive knowledge in areas such as asset planning and investments. More specifically, a financial advisor can help you:

  • Set financial goals
  • Determine the status of your current financial affairs by reviewing your income, assets and liabilities; evaluate your insurance coverage and your investment portfolio; evaluate your tax obligations; and examine your estate plan.
  • Develop a plan to meet your financial goals that addresses your current financial weaknesses and builds on your financial strengths.
  • Recommend specific products and services (many advisors are qualified to sell a wide range of financial products)
  • Control your plan and periodically evaluate your progress
  • Adjust your plan to help you achieve your constantly changing financial goals and to adapt to changes in investment markets or tax laws.

Some misconceptions about financial advisers:

You may have reservations about consulting a financial advisor because you are not sure what to expect. These are the wrong ideas that people have most often about financial advisors, and the reality:

  • Most people do not need financial advisors. While it is true that you may have the knowledge and ability to manage your own finances, the financial world becomes increasingly complex. A qualified financial advisor has the knowledge to help you get through the path to achieve your financial goals.
  • All financial advisers are the same. Financial advisors are not regulated by uniform state or federal regulations, so there may be a considerable disparity between their qualifications and business practices. Some may specialize in one area such as investment planning, while others sell a specific variety of products, such as insurance. A qualified financial advisor usually sees finance as an interrelated whole and can help you with most of your financial needs.
  • Financial advisers only work for the rich. Some advisors only accept clients with a minimum amount of assets to invest. Many, however, only demand that their clients have at least one discretionary income.
  • It is not worth spending on financial advisers. Like other professionals, financial advisors receive compensation for their services and it is important that you understand how they are paid. But a good financial advisor can help you save money and earn more than what you pay in fees.

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