What to Expect From Your Financial Planner

I can preach all day about the advantages of financial planning and the need for all people to use these services.  However, sometimes it helps to hear from others, so my readers will not think I’m crazy or the typical salesman just pushing their services on consumers.  In a perfect world, my job wouldn’t even exist because everyone would be able to achieve their goals.  Everyone in the service industry feels the same way.  I know my doctors would love to hear that I didn’t need them anymore, but we’re not there yet.

It’s good to ask for help and we should never be ashamed of needing it.  In financial planning, we help by teaching.  As they say, “Teach a man how to fish and he can eat for a lifetime.”  There are many subtle moves we can make at the different seasons of our lives that can have major impacts on our future.  That is why I will always believe that financial planning is for everyone, not just the super-rich.

I better stop before I get on my soap box and introduce Mr. Bradford.  Phil approached me about doing a guest post on my blog, which was exciting because it meant others were finding out about my website and I didn’t have to think of a topic this month.  Again, sometimes it helps to hear another voice, especially if you’re on the fence about whether to use a financial planner (or any other type of service).

Phil Bradford is a financial content writer and an enthusiast, so we instantly got along. He has expert knowledge about personal finance issues and he is a regular contributor of Debt Consolidation Care. His passion for helping people who are stuck in financial problems has earned him recognition and honor in the industry. Besides writing, he loves to travel and read books.

Phil’s article is below, but there are some of my thoughts hidden in there as well.  As I was editing, I couldn’t resist adding my two cents in some areas.  Sorry, but I do love this stuff and can talk about it all day!  Enjoy!

How can a financial planner help you reach your reasonable financial goals?

A financial planner can be your guide when you have chosen the path toward wealth. By choosing a proper financial planner and following the expert’s advice, you may be able to overcome the barriers keeping you from being financially established.

Unfortunately, the misconception that prevails in our society is that financial planners only provide service to rich people.


Let’s take a look at why the services provided by financial planners is not only for the rich

Many financial planners are currently providing financial services to all people, not only to those with high-net-worth. To serve the not-so-wealthy clients, financial planners are offering a variety of financial services on a monthly and hourly basis. Some financial planners have even started providing financial services in a group session.

CNBC.com reports that many financial planners are providing hourly services at very reasonable rates. So, even not-so-wealthy clients can afford these services.

The question may arise in your mind, what kind of financial service can you receive from the group sessions, or monthly-basis sessions, or hourly-basis sessions?  Financial planners can provide assistance on a variety of subjects including, but not limited to, savings and investments assistance, developing a strategy for social security, budgeting, debt management, insurance, and estate planning.

Normally, you can expect a very positive attitude from your financial planner. They want to create a long-term relationship with you in order to help you pursue your reasonable goals, so they are free to be contacted at any time. They are ready to assist their clients even after the individual session is over.


What questions you should ask your financial planner?

In order to find the right financial planner, first you should ask yourself what you are looking for in a financial planner?  Again, most of your goals will require a long-term relationship, so you should be comfortable.

Here are 3 questions that will help you to understand whether or not you have found the right financial planner for your needs:

  1. What is the ideal client for the financial planner? It should be clear whether the client base of the financial planner is ultra-wealthy or if they have medium-range or average household income. You should be more comfortable working with a financial planner who deals within similar situations to yours. Most financial planners will answer this by having a minimum account size requirement.


  1. What are the fees charged by the financial planner? Fees can vary based on the service you need provided by the financial planner. A good financial planner will be up front and honest about fees.


  1. Is the financial planner a fiduciary? Unfortunately, the term “financial advisor” and “financial planner” crosses over into a variety of jobs. Not all of these agents face a fiduciary requirement.  A fiduciary is required to put the client’s interest ahead of their own interest or their firm’s interest.  For example, a CERTIFIED FINANCIAL PLANNER™ Professional is held to the fiduciary standard.


If a financial planner passes this 3 question requirement, then it’s time to trust your instincts.  Again, this is usually going to be a long-term relationship if a financial plan is to be implemented, so you need to be comfortable.


Now, let’s take a look at what you can expect from the financial planner.

The financial planner is normally able to help you in many aspects of your professional and financial life. They will explain to you the purpose of financial planning and then they will start their process.


  1. The financial planner will evaluate your present financial status.


  1. The financial planner will perform a general analysis about your budget, assets, liability, cash flow, tax planning, debt management, etc.


  1. The financial planner can encourage you to invest in the stock market, real estate investment, etc.as long as investing is in line with your reasonable goals.


  1. The financial planner is capable of walking you through your special situations as well. Examples of these may include, but are not limited to, the steps you need to take if you are going through a divorce, if you are thinking about remarrying, or if someone in your family has an illness or disability.


Basically, the financial planner is capable of analyzing almost any financial situation that is giving you trouble and they may be able to provide some solutions to your problem.


  1. The financial planner will monitor the progress of the implementation of your financial plan.

After evaluating your present financial status, your financial planner will design a plan according to your present financial condition.

The relationship between your financial planner and you won’t end here. The expert will monitor the progress of your financial plan and will discuss how everything is going with you.

So, if you are facing any kind of financial problem regarding retirement savings or the education of your children; the financial planner is there to help you.

It is important that you do not hesitate to ask anything to a financial planner. Their real objective is to assist you. So, for any kind of monetary trouble, you may consult a financial expert.


  1. The financial planner can help you to grow your self-confidence

Most Americans today suffer from financial anxiety as they do not know which is the correct financial direction for them. That is why you need the support of a financial planner. The expert can help you to grow the confidence within you that is sometimes required to get through the adversity we all face in life.  Additional self-confidence will help you be able to handle and begin solving financial difficulties like tax-related problems, high-interest rate credit card problems, etc.

Perhaps, after a few years, you will be able to use self-help and solve your financial crisis on your own, but first, you need the support of a financial planner.

During the COVID-19 Pandemic, financial anxiety has been noticed very much among low-income Americans.  In fact, during this pandemic, many lower-income Americans were entrapped by emergency lenders such as payday lenders. If you are one of them and looking for a solution, you can visit  https://www.debtconsolidationcare.com/merge-payday.html for a free consultation on your high-interest payday loans.


Final words,

In the first phase of the financial planning relationship, there will be a lot of questions in your mind.  For example, what to ask the expert? Do you need advice on financial planning, retirement planning, or for investment purposes?  Of course, the question regarding fees is important, but it’s important to understand the fees charged are really an investment in your future.

Finally, remember that a professional financial planner will never look into your monetary capability before helping you out.  They may not be able to provide certain services, but if nothing else, they should be able to refer you to someone who can help.

Don’t be afraid to ask for help.  You cannot let financial anxiety control your life.  Do the research. Ask your close friends and family who they might recommend and search the internet.  Find a financial planner whose service is focused on the lower and middle-income group of Americans.  We’re all in this together!

There is nothing better than ending the article with a quote:

“A good financial plan is a roadmap that shows us exactly how the choices we make today will affect our future.” – Alexa Von Tobel


Jonathan Greeson is located west of 117 and south of E. Main St.
Jonathan Greeson is located west of 117 and south of E. Main St.

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100 West Main St.
Pikeville, NC 27863