The value of assistance from a Financial Professional
Working with a financial professional may improve your chances for reaching your long-term savings goals.
Raising a family, meeting work deadlines and finding time to complete life's never-ending to-do list can be overwhelming. It's no wonder investors often neglect their financial health. A financial professional can provide objective information to help you overcome obstacles, putting you more in control of your future.
The benefits of working with a financial professional
A financial professional can deliver the expertise you may need to evaluate your situation and help you customize your plan to keep you on track.
Your financial professional should:
- Assist you with identifying your individual financial goals.
- Assess your current financial situation based on your assets, liabilities, income, insurance, taxes and investments.
- Help you develop a comprehensive long-term financial plan.
- Continually monitor your progress and recommend adjustments to your strategy as needed.
"Many individuals fail to take the time each year to create a realistic plan for their future," says financial advisor Jim Schaffer, principal at Cleveland-based Waypoint Partners. "Sitting down with a financial professional establishes the discipline necessary to implement positive savings habits for the long-term."
Tips for choosing a financial professional
Financial professionals vary widely in their experience and approaches. If you're looking for a financial professional, it's important to weigh a variety of factors in your decision. Keep these tips in mind:
- Consider experience. While business longevity is valuable, experience is only one piece of the equation. The longer someone has been in business, the more insights he or she may have. Conversely, those new to the industry may be more willing to use cutting-edge products and strategies than those with extensive tenure.
- Evaluate credentials. A financial professional should have appropriate training, licenses and securities registrations. Additional designations might include Chartered Life Underwriter (CLU), Certified Financial Planner (CFP) or Chartered Financial Consultant (ChFC).
- Look at resources. There are countless investment, insurance and retirement products on the market today. Your financial professional should be able to help you navigate your choices and, together, build a plan based on your needs.
- Understand the approach. In order to assist you, your financial professional will need to get to know you and your financial accounts. Expect him or her to take sufficient time to evaluate your overall situation and continually monitor your investments in all types of market environments.
Contact a financial professional for information on achieving your goals.
If you don't have a financial professional, we can help you find one.
Fast Fact: Employees who use a financial professional for financial advice, guidance and/or products for a fee or commission are significantly more likely to report they are extremely happy with their current financial well-being (42 percent) than employees who don't use a financial professional (22 percent), according to the Principal Financial Well-Being IndexSM–2nd Quarter 2011.
Jim Schaffer and Waypoint Partners are not affiliated with the Principal Financial Group or any of its member companies.
Insurance products and plan administrative services are provided by Principal Life Insurance Company a member of the Principal Financial Group® (The Principal®), Des Moines, IA 50392.