hiring a financial advisor…

Magic was a curious cat, but she was wise about her curiosity.  She would sit and watch before she moved, making sure she "researched" the various angles.

We think a lot can be learned from Magic when it comes to finding a service provider too.

What Do Financial Advisors Actually Do?

One of my clients has often said to me, “I don’t know what I don’t know,” which may answer the question of hiring a financial advisor. This leads to another question, what does a financial advisor “do?” If you look at the expectations of CFP deliverables (this is not to say an advisor has to be a CFP, but it describes the process), financial advisors may do the following:

  • Financial statement preparation and analysis (including cash flow analysis/planning and budgeting)

  • Investment planning

  • Income tax planning

  • Education planning

  • Risk management

  • Retirement planning

  • Estate planning (For related reading, see: What Do Financial Advisors Do?)

Read more: Hiring an Advisor? Here's What You Need to Know

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