Managing your finances and planning for your future is an ongoing process that requires a lot of care, attention and adjustments as life unfolds. Even though you have regular progress meetings with your Financial Advisor, there are times in between those meetings when you should be reaching out.
Here are 5 reasons to talk to your Financial Advisor beyond the routine progress meeting…
When to get in touch with your Financial Advisor
Significant changes in your family
Life is dynamic, and significant changes can occur unexpectedly. Whether it’s the birth of a child, a marriage, or a death in the family, these kinds of events can impact your financial goals and plans.
Significant changes in your family business
If you are involved in a family business, any decisions to buy or sell, as well as key personnel changes—especially if they involve family members—can have profound effects on your financial situation.
Sale or purchase of assets
The sale or purchase of significant assets, such as real estate or investments, can have implications on your overall financial picture.
Change in career or work plans
Changes in your career or work plans, such as shifts in employment status or transitions from full-time to part-time work, can impact your income and retirement goals.
Changes to goals
Over time, your financial goals may evolve. Whether it’s a shift in retirement plans or changes to your work-related objectives, keeping your financial planner informed about these adjustments is crucial.
By promptly communicating significant life changes, business developments, asset transactions, career shifts, and goal adjustments, your financial planner can reassess and optimise your financial strategy, and keep your financial goals on track.
Bonus tip: As a client of Stephan Independent Advisory, if you ever experience any unease related to financial decision-making, such as strong reactions to legislative changes, tax considerations, or market movements, don’t hesitate to pick up the phone and speak to us. We may be able to address your concerns fully or in part before our next scheduled meeting, providing you with peace of mind.
