By Taylor Nipp / Contributor
Technology and finance are constantly evolving. In this fast-paced environment, staying updated on the latest trends is a challenge. As a wealth manager, my role involves keeping informed about the newest developments in finance and investments so that I can assist my clients in making informed and strategic decisions with their finances. You might wonder if hiring a financial advisor is necessary for your planning. Here are some questions to consider if a financial planner could enhance your future security.
When is it beneficial to seek an advisor’s help?
Many clients encounter what I refer to as “critical life moments”—such as the arrival of a new baby, a job transition, children heading to college, or nearing retirement. These are certainly times when it’s crucial to revisit your portfolio and overall financial situation. However, many financial choices are ideally made early on.
For instance, if you’re exploring the best methods to fund your child’s education, there are multiple pre-tax options to think about. I often recommend 529 college savings plans. Earnings in these accounts are tax-free, and initiating your savings as soon as possible can significantly boost your investment returns.
How do I choose the right advisor?
Start by confirming that they possess the necessary credentials. A Certified Financial Planner (CFP) certification indicates they have the required expertise, and opting for a fee-only firm shows where their priorities lie. The key question, however, is whether the advisor serves as a fiduciary for you. Will they prioritize your interests? If their main objective is to sell products, their focus may not be entirely on your needs. Transparency is essential.
At SFMG, we dedicate ourselves to forming personal relationships with our clients. We aim to be a reliable advisor they can reach out to anytime with inquiries or concerns. A good advisor instills lifelong confidence.
What value does an advisor provide that I can’t achieve alone?
Ultimately, a wealth manager has the time and expertise to help you assess your choices and make the most informed decisions. You have your career and family to concentrate on—assisting you is a wealth manager’s responsibility. Our clients understand they can contact us for anything related to their financial health, even if it involves engaging an external resource. Whether they need guidance on life or disability insurance, long-term care, estate planning, or even purchasing a new vehicle, we strive to be their first point of contact. With our advisors’ diverse experiences, we have encountered a wide range of situations.
Quantifying your financial peace of mind can be difficult, but having a financial advisor can help grow your wealth, not just through your investments, but also through the collaborative relationship you build together.
Editor’s Note: Taylor Nipp is a Certified Financial Planner and a partner at SFMG Wealth Advisors, an independent wealth management firm based in Plano, TX. For additional information,
