50 Things an Advisor Does for You
Person-To-Person
1. Is honest with you
2. Monitors changes in your life and family situation
3. Proactively keeps in touch with you
4. Serves as a human glossary of financial terms such as beta, P/E ratio, and Sharpe Ratio
5. Provides referrals to other professionals, such as accountants and attorneys.
6. Shares the experience of dozens or hundreds of their clients who have faced circumstances similar to yours
7. Helps with the continuity of your family’s financial plan through generations
8. Facilitates the transfer of investments from individuals names to trust, or from an owner through to beneficiaries
9. Keeps you on track
10. Identifies your savings shortfalls
11. Develops and monitors a strategy for debt reduction
12. Is a wise sounding board for ideas you’re considering
Financial Planning
13. Cares more about you and your money than anyone who doesn’t share your last name
14. Guides you to think about areas of your financial life you may not have considered
15. Formalizes your goals and puts them in writing
16. Helps you prioritize your financial opportunities
17. Helps you determine realistic goals
18. Studies possible alternative that could meet your goas
19. Prepares a financial plan and/or an investment policy statement for you
20. Suggests creative alternatives that you may not have considered including the best way to claim Social Security
21. Reviews and recommends life insurance policies to protect your family
22. Assists you in setting up a company retirement plan
23. Assists in preparing an estate plan for you
24. Reviews your children’s custodial plans and 529 plans
25. Helps you determine your IRA Required Minimum Distribution
26. Provides reminders about key financial planning data
27. Checks with you before the end of the year to identify any last minute financial planning needs
28. Guides you on ways to fund health care retirement
Investments
29. Prepares an asset allocation for you so you can achieve the best rate of return for a given level of risk tolerance
30. Stays up to date on changes in the investment world
31. Monitors your investments
32. Reviews your investments in your company 401(k) or 403(b) plans
33. Reviews your existing IRAs
34. Helps convert your investments to lifetime income
35. Refers you to banking establishments for loan and trust alternatives
36. Suggests alternatives to increase your income during retirement
37. Records and researches your cost basis securities
38. Provides you with unbiased investment research
39. Provides you with the personal investment analysis
40. Determines the risk level of your existing portfolio
41. Helps you consolidate and simplify your investments
42. Can provide you with the technical, fundamental, and quantitative investment analysis
43. Provides introductions to money managers
44. Shows you how to access your statements and other information online
Taxes
45. Suggests alternatives to lower your taxes during retirement
46. Reviews your tax returns with an eye to possible savings in the future
47. Stays up to date on tax law changes
48. Helps you reduce your taxes
49. Repositions investments to take full advantage of tax law provisions
50. Works with your tax and legal advisors to help you meet your financial goals
- William Smith
Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC Investment Advisory Services offered through Raymond James Financial Services Advisors, Inc. Raymond James is not affiliated with Horsesmouth, LLC.