With So Many Advisors, Will I Maintain Control of My Finances?

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Do I Need a Team of Advisors? What if I lose Control?

Thinking about your financial future doesn’t have to be frightening or stressful. When you’re backed by the right team of professionals, you can breathe easy and know that you are on your way to achieving your financial goals. Do you need a team of advisors? When you are working with qualified and experienced advisors, you remain in the driver’s seat. Once you communicate your objectives and vision to them, it is their responsibility to perform the services necessary to accomplish your wishes. As your circumstances change, so should your plan. You will be responsible to keep your advisory team updated as to various modifications you would like as time passes and/or your lifestyle changes.

Who Should Be on Your Team?

The answer depends a bit on who you are, what your life situation is and what your goals are. Here are some guidelines:

Financial Advisor

Similar to a primary care doctor, a financial advisor can take an expansive look at your finances and provide guidance and insight.

Insurance Agent

An insurance agent helps you safeguard your property and your livelihood in the form of auto, homeowners, renters, life and long-term care insurance. They can advise you on the best policies to protect you, your family and the future you are building from risk.


An attorney or lawyer can assist you with buying/selling property (including businesses), creating a will and estate plan, negotiating contracts and more.

Accountant/Tax Advisor

An accountant or tax advisor handles your taxes, including ensuring that they have been filed correctly, finding deductions you can benefit from and filing extensions if needed. They can also help manage your charitable donations. If you’re a business owner, accountants are important in managing and communicating the company’s finances. If your taxes are complicated, such as if they include multiple income streams, lots of deductions, foreign investments, etc., then its likely worthwhile to hire an accountant.

Bringing Your Advisor Team Together

Together these people are your team. They should be able to work in coordination to serve your needs as you build your financial future. Be sure to verify credentials before you enter into a relationship with an advisor. Don’t be afraid to ask for references. You want to be sure that the people who will be helping you navigate your decisions understand you and your goals. You want a team of advisors equipped to walk alongside you in your journey.

One of the biggest concerns investors have is outliving their money. It’s often their financial advisors who work with them to make sure this fear doesn’t become a reality. As a result, financial advisors are increasingly accounting for clients living into the 90s and beyond. That includes finding ways to stretch out their savings. Additionally, they will try to protect their money from the risks and expenses associated with old age.