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How often should I talk to my financial advisor? 

How often should I talk to my financial advisor? 

This is a great question, and it's an important one.  When you begin a relationship with a holistic and comprehensive fiduciary financial planner, they will in all likelihood set up a schedule of conversations and annual updates that you will have each year. 

For example, here at our office we typically have three scheduled meetings each year with our wealth management clients: one for tax planning, one for investment, and one for financial planning.

Of course, they can always call me any time they want.  They can e-mail or text me on an as-needed basis, and I will respond help them with any questions. If they have a question about Medicare or Social Security planning that we didn't cover in our financial planning meeting, or something new came up that they want to address before our next meeting, we can talk about it in a separate phone call. There are always reasons that you may have questions for your financial planner or financial advisor.

I highly recommend you watch this video I recorded that goes through how to avoid running out of money and increase your retirement income. You are also invited to set up a short 20 minute free no cost and no obligation Retirement Ready Success call by clicking here. In this short call we will

  • go over where you are now,
  • where you want to be,
  • and I will share with you some of the strategies I use with my clients to help them achieve financial freedom and peace of mind.

Ultimately, there's no real set number of times that you should talk to your financial advisor each year.  It's going to vary from person to person and with what's going on in your life.  For example, if a parent or someone else in your family passes away and you're going to inherit or receive some money, you'll likely have some questions about that.

If you want to do some home renovations and you need money for that, you'll probably want to discuss that with your advisor, and you certainly will want a conversation with them if you want to buy a second home. As the client, you'll largely dictate how often you communicate with your financial advisor.

One thing that's important to understand is we are not in the 80s and 90s anymore, when your stock broker would call you up and say “Starbucks is doing well, I recommend you buy 100 shares” or “We've got some Home Depot stock that's looking really good.” When you're working like that with a stock broker, they'll call you more if you have lots of money since they're generating commissions with each of your stock purchases.That relationship doesn't really exist the same way these days, and it's certainly not what you should expect in the comprehensive and holistic financial planning area of this industry.  You will have conversations around planning if you have a fiduciary financial planner, and these type of conversations will be a little bit different than what we saw in the 90s.  Your advisor is typically not going to be trying to sell you a product unless you are working with an insurance-based financial advisor, who might call you to encourage you to buy more long-term care life insurance or annuity.  That wouldn't happen when you're working with a fee-only fiduciary financial advisor. 

Click here to watch my Free Video Presentation that Reveals...

How To Avoid Running Out Of Money In Retirement AND Potentially Increase Your Income In Retirement... By Making ONE Simple Change To Your Finances! You will learn:

  1. How one simple change to your finances can increase your retirement income
  1. How one simple change to your finances can help you avoid running out of money
  1. How to do all this without needing to invest more money or spend more time on your finances.

Or you are also invited to set up a 20 minute free no cost and no obligation Retirement Ready Success call by clicking here. In this short call we will

  • go over where you are now,
  • where you want to be,
  • and I will share with you some of the strategies I use with my clients to help them achieve financial freedom and peace of mind.