In our recent blog series, we covered much of the indirect value ongoing financial planning can bring to your life:
Worry Less So You Can Focus on What Matters the Most explained how working with a financial planner can reduce the time and stress spent on personal finances so you can focus on the things that matter most in your life.
A Financial Planner Can Help You Clarify Your Goals and Align Your Finances explained how a financial planner isn’t just about budgets and managing investments but helping clients define and refine their personal values and goals for their lives. Once we understand your short- and long-term goals, it becomes easier to make decisions about how best to align your finances with what you want out of life.
Benefits of On-Going vs. One-Time Financial Planning explained the financial planning process at a high level and how implementation is the hardest part. It also underscored the importance of understanding that, as things happen in life, a financial plan can become obsolete very quickly. The benefit of an on-going engagement with a financial planner is having someone on your side that is consistently looking out for you by monitoring progress and helping you adjust your plan over time.
Finding the Right Professional for Your Financial Needs explained how fee-only, fee-based and the standard brokerage firm planning models differ in terms of their fee structure, services offered, and potential conflicts of interest. We believe the independent, fee-only RIA model provides for the most transparent fees, a comprehensive financial planning process and purest fiduciary relationship for the client.
But you may still be wondering: Is the Juice Worth the Squeeze?
There are several studies that show working with a financial planner can add between 1.5% and 4% to your account growth over extended periods. The Envestnet, Capital Sigma, Advisor Advantage white paper is a well-known, frequently updated quantitative research study that recently showed a 3% annual boost to account values over time, or about 3x the typical fee to work with a financial planner, depending on their fee structure.
However, despite fancy detailed white papers, we readily admit that it’s very difficult to measure and quantify most of the value ongoing financial planning provides. Yes, we do have advanced financial planning software that can model out 30-40 years and help come up with the best planning strategies, but we don’t have a crystal ball, and we aren’t able to predict the future of tax rates, inflation or markets returns. We can help you construct a broadly diversified investment portfolio that is thoughtful about where certain assets are located for tax efficiency. We can invest in passive investments that should generally do better than active investments, but we can’t guarantee they will – no one can.
What we do know is that we can provide you with peace of mind, save you time and help you make sound financial decisions. We can help get into the details of your situation, such as reviewing recent tax returns. Perhaps we will find an error that results in a refund. Or maybe we will help you identify the optimal time to take social security or claim a pension. Too many people believe that they can time the market, but rarely do the results bear out positively. Financial investing requires discipline to let the data dictate activity. We can be that voice of patience when emotions are overwhelming. Every step of the way, we will be walking alongside you, supporting you and helping you achieve your financial goals.
Take Charge of Your Financial Future
If you are ready to step into an ongoing professional relationship with a financial planner, Walnut Hill Wealth Management is here to help. With over twenty years of experience in finance, we have both the knowledge and the passion to support our clients through every stage of life. Start getting more out of your financial life by working with an experienced financial professional who listens to your needs and desires and educates you on your financial options. The goals you have could be closer than you know. It all beings with scheduling your complimentary no-obligation consultation today.
Walnut Hill Wealth Management, LLC (“WHWM]”) is a registered investment advisor offering advisory services in the State of Texas and in other jurisdictions where exempt. The information provided is as of the date indicated and subject to change.
Comentarios