What are the benefits of a financial advisor? To begin with, an advisor is often there to discourage you from making poor financial decisions that can negatively impact your growth trajectory.
Advised Investors Have a Greater Net Worth Over Time
Source: The Gamma Factor and the value of Financial Advice, Claude Montmarquette, Natalie Viennot-Briot, 2016
Inspire to Save
The right advice will not only instill the discipline to save, but the results inspire you to stay on track. In other words, good advice helps you build a habit and then keep it.
Source: Canadian Investors’ Perceptions of Mutual Funds and the Mutual Fund Industry, Pollara 2019.
Let Your Money Work for You
Advised investors are not just putting their money to work in non-cash assets that will appreciate over time. They are also placing those assets in tax efficient structures or accounts. For example, our advisors make tax planning part of every client’s financial plan at no additional charge.
Source: The Gamma Factor and the value of Financial Advice, Claude Montmarquette, Natalie Viennot-Briot, 2016
Peace of Mind and Other Benefits of a Financial Advisor
After all, an advisor has one purpose: to collaborate with you to create peace of mind. For this reason, the majority of people who have partnered with an advisor report a greater sense of well-being. That sense of calm is one of the quieter benefits of a financial advisor.
Source: BlackRock Global Investor Pulse, 2019
The Benefits of a Financial Advisor Go Beyond Investing
Of course, investment recommendations are just the start. A financial advisor can also help you shape your retirement security, tax circumstances and legacy. At Toomey Investment Management, we bring investment management, insurance, tax and estate planning together under one roof. As a result, every part of your plan works toward the same goal. Best of all, the advisor you start with is the advisor who stays with you. To see how this works, read about our financial planning process or contact our Wallingford office.
