What Does a Financial Advisor Do
By JW Rayhons
Ever wonder what a professional financial advisor does?... or, how they can help you?... or, if only rich people have one?
About 15 years ago one of our clients called and asked me, ‘What do you do?” At first, the question threw me off because I’m thinking; you’ve been a client for three years, you already know what we do. But, rather than say that, I asked them what they meant. They said, “We know you watch our investments and all that, but what do you really do?”
The situation caused me to reflect on why our clients hire us. Being a professional advisor is a high trust responsibility. It’s very different than being a financial sales person or stock broker. People usually come to us when there’s an important decision to be made or to prepare for some of life‘s most significant events.
A professional financial advisor is going to go on life‘s journey with you; guiding you and coaching you on the financial details, so that you can enjoy the ‘Life stuff’ that is most important to you.
4 Focuses of Your Professional Financial Advisor
Earn your trust
- Your trusted advisor will listen to you with the intention to learn what’s most important to you; what you value in life; and, what you want life to look like.
- You and your advisor will co-create a clear, actionable blueprint of your goals.
Do the work
- Research & recommend the mix of investments that serve the best interest of what you’re trying to accomplish.
- Ongoing oversight of your investments, the economy, the markets, & how the combination of all that impacts your specific blueprint.
- Conversations about progress and adjustments along the way.
- Continue to educate oneself and earn professional designations and licenses, understand regulatory requirements including client best interest requirements, and act in a fiduciary capacity when working with clients.
Create additional value
- More than just your advisor; often they will feel more like a coach or guide helping you stay disciplined and accountable to the fundamentals… even when your emotions fog your focus.
- You’ll catch them occasionally doing small acts that go beyond what you would expect.
- They invest in their own professional growth regularly through licenses, credentials, designations, & continuing education.
Celebrate your victories
- The fundamental actions & strong financial habits matter. Your trusted advisor will celebrate the “small” steps because they understand the big picture and potential big victories regarding your finances.
- It’s a journey (together) with both victories and challenges in pursuit of your most important dreams becoming reality.
There’s more to life than money! The Rayhons Financial family are professionals that want to help you. Connect with us for an initial conversation.
The content in this article was prepared by the article’s author. Cetera Advisor Networks, LLC does not endorse its content, and the views expressed may not necessarily reflect those held by Cetera Advisor Networks, LLC.