News & Press: Consumers

Make It Personal: Why Customized Advice Matters When Working With a Financial Pro

Friday, November 16, 2018  
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Here in the final installment of a five-part series on The Power of Financial Planning, we look at the all-important personalization aspect of financial planning — how a person who works with a financial professional should expect to receive individualized advice and services, and how to determine that’s what they’re getting.

When a person works with a fitness trainer, they expect a workout that’s tailored to their abilities, limitations and goals. When a person consults with an architect to design a new home, they expect the plans will reflect not only their vision for the home but also the personal financial parameters for building it.

Similar expectations should apply when a person works with a financial professional. As unique as every person’s financial situation and goals are, they deserve — and should expect — a financial professional to deliver services, strategies and recommendations that are customized to their specific circumstances and priorities. Everyone wants the means to live a comfortable, financially secure life and to achieve their goals. A whole host of variables must factor into the process of determining how best to get there, including a person’s age and stage of life, family circumstances, income, assets, health status, personal and professional aspirations and much more. Given how much these factors tend to vary from individual to individual, a well-thought-out, personalized approach to handling your finances is much likelier to lead to positive financial outcomes, both now and in the future, than a one-size-fits all approach.

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