At the most basic level, business transition planning is a strategy that can be put into play when a business is sold or changes hands. For company owners nearing retirement, a successful transition plan can play an important part in creating and preserving the value of the business after it has changed hands.
Atlanta Financial Blog
7 Questions to Answer in a First Meeting with a Financial Advisor
Many clients searching for a financial advisor aren’t certain what should be reviewed and discussed at their first meeting. The approach taken by financial advisors varies widely and is not always well structured. The main goal is for you and the prospective advisor to determine if there’s a good fit for working with each other now and well into the future.
Answering the following seven questions should go a long way toward determining if the prospective advisor is the right person to help you achieve your financial vision:
- How well does the advisor’s expertise, experience and professional network line up with your current and anticipated future financial situation? It is beneficial to you if the advisor can bring you the expertise and experience of working with other clients who are similar to you.
Does the advisor have a documented process that he or she uses in working with clients? Ask them to show it to you and explain it.
- What documents were you asked to bring to the meeting? Did they ask only for investment statements, or were you asked to supply other documents including wills, insurance policies, tax returns and benefits statements? This is a good indicator of the scope of work that they plan to do with you.
- All financial advisors work with investments, but how will the advisor work with you on non-investment related financial subjects such as retirement planning and projections, Social Security benefits planning, college education funding and mortgage financing? Ask the advisor for specific examples of how he or she helps clients in these areas.
- Does the advisor’s approach to giving advice and working with clients align with your expectations and how you would like to work together? Make sure that you understand the number and kinds of meetings you will have with the advisor each year, what will be discussed and covered in each meeting, how your progress in various areas is tracked, and how often and under what circumstances you would like to receive a proactive call from the advisor.
- Does the advisor have designations or certifications that set ethical and competency standards related to the advice you are seeking? Certain advisors have more strict ethical and disclosure standards and mandates in addition to ongoing continuing professional education requirements.
- Will working with the advisor have a meaningful impact on your financial life? Picking the right financial advisor is not the same as picking a spouse but can have the same long term effects on your happiness for years to come. Consider carefully your answers to the above questions to decide if the advisor is the right one to help you achieve your financial vision.Ultimately the financial advisor you choose needs to be a good fit for the long haul. Give us a call and let’s talk about how, together, we can make your life’s journey richer.
The travel industry has begun to see growing demand as we move closer to summer. However, not all travel will be the same, as much of the demand is directly related to the COVID-19 vaccine and reduced CDC restrictions. Instead, industry trends have emerged based on individual comfort levels as they apply to different modes of travel.
Below we will explore some of the factors that have contributed to an increase in travel and how different industries are responding to it.
Following a year of economic instability, it appears that many of us are turning our attention to something that’s been around for decades, but has recently piqued national interest – inflation. In fact, a recent study found that people are Googling the word “inflation” at a rapid rate, with a peak not seen since 2010…
As mothers, sisters and daughters, women are often counted on to be caregivers for family members in need. Whether it’s something as small as a cold or as debilitating as a terminal illness, women are typically the ones to care for and help out when a loved one is sick. But what happens when the caregiver is in need of her own care? Too many women are stuck facing this dilemma head on, instead of preparing for it while there’s still plenty of options, resources and time ahead. Below are a few reasons why it’s so important for women to plan for their own long-term care strategies now.