7 Things Great Financial Advisors Do For Their Clients


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The information presented here is not intended to be regarded as a comprehensive list of considerations, including but not limited to, categories, services, or qualifications that a client or prospective client should consider when assessing or comparing Financial Advisors and/or Firms. As the author of this piece, EP Wealth Advisors, LLC (“EPWA”) has tailored the messaging of this article to align with the categories, services, qualifications, capabilities and services that it offers.. EPWA makes no representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information presented. EPWA reserves the right to make changes to some or all of the information displayed here without notice. 

The need for a financial advisor or financial planner and/or the type of services required are specific to the uniqueness of each individual’s circumstances. The referenced material identified herein is limited in nature and specific to what is offered by EPWA. There is no guarantee or warranty that the services offered by EPWA will satisfy your financial services requirements. Services offered by other advisors may be more suitable to your specific needs. 

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You’ve worked hard for decades, and now it’s time to live the good life and get ready to enjoy your retirement. To preserve the wealth you’ve earned over the years, you’re considering partnering with a wealth advisor for the first time or possibly looking to find someone who’s a better fit than your existing advisor.

While you may be entering retirement for the first time, financial advisors have helped countless people like you maximize their finances and truly live their golden years to the fullest.

As you begin searching for an advisor, it’s important to look for someone who brings a well-rounded approach to planning. After all, your retirement isn’t just investments and an estate plan. It’s a complex, interdependent set of financial topics that should be coordinated by an expert who has your best interests at heart.

Keep reading to learn more about some of the top characteristics great wealth advisors have so that you can make the best decision on how to secure your financial future.

What characteristics do great wealth advisors have?

Every financial advisor is different, and each has their own unique perspectives and attributes to bring to the table. That said, there are some recurring themes you’ll find among the most talented wealth advisors. 

1. They act as a fiduciary on your behalf.

You might think that every financial advisor is required to act in accordance with your best interests, but that’s not the case. Not every advisor needs to recommend the best path forward for your unique circumstances. This is why it’s so important to look for fiduciary advisors who are legally required to act with your best interests in mind with every move they make.

2. They talk through savings and help you optimize your cash.

The best wealth management advisors are passionate about all facets of finances and know all the options that are available to people in your situation. That being the case, they not only know how important it is to build up savings and have a robust emergency fund, but they also know the best places to put your cash. 

3. They help you build a budgeting plan for retirement.

Once you’re retired, chances are you won’t be earning as much money as you did when you were working full time. You’ll need to come up with a new budget that incorporates new spending habits. 

When you partner with the right financial advisor, this process won’t be as painful as it might sound. The right advisor will work with you to help you formulate a budget that meets your needs. They will also be able to recommend budgeting apps that can make it even easier to set a budget and stick to it.

4. They help you with estate planning and succession planning.

Suffice it to say that estate planning and succession planning are massive undertakings—and not ones you should try to do on your own. Partner with the right advisor who has been through these processes countless times before and will be able to tell you what your options are and recommend the best course of action. 

Ultimately, the decision as to what your estate and succession plans will look like will be yours to make. That said, these critical decisions are not something you want to make with little guidance from an expert who knows the ins and outs of each.

5. They possess the ability to allocate portfolio funds intelligently.

It’s no secret we’re in a difficult economic climate. The right financial advisor understands this perfectly and can help you allocate your portfolio funds intelligently. For example, in a bear market, it might make more sense to pour money into bonds and lock in decent guaranteed returns. 

Either way, leading wealth management advisors will embrace the principles of SMART management and set goals that are specific, measurable, achievable, relevant, and time-bound. They’ll make sure your eggs aren’t all in one basket.

6. They commit to building a trusting relationship with you.

Some financial advisors view you as another customer and are most interested in having a transactional relationship with you. Avoid these types at all costs. Instead, look to partner with someone interested in building a long-term relationship with you. 

In fact, many people think that trust is a financial advisor’s most important asset. When you join forces with an advisor you absolutely trust to make the best decisions for you, managing your finances suddenly becomes much easier.

7. They know the ins and outs of retirement benefits and insurance.

Last but not least, a great wealth management advisor will be able to walk you through your retirement benefits and insurance options. In some instances, for example, it might make sense to take your social security benefits as early as possible to turn on the cash flow spigot as soon as you can. In other instances, it might make sense to wait until the last possible moment to increase your monthly payment amount. 

Similarly, a talented wealth advisor will be able to walk you through your options when it comes to things such as Medicare and Medicaid. These are complicated programs to navigate, and they’re much easier to figure out when you have a trusted advisor to bounce questions and concerns off of.


Are you searching for a wealth advisor?

Since you’re reading this article, you’re likely in the market for a financial advisor. To help you get a better understanding of the kind of advisor you’re looking for, take our free financial advisor assessment.

Better yet, if you’ve already made your mind up and decided on EP Wealth, contact a financial advisor today and accelerate your journey to long-term financial independence.



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