How to Measure the Value of Intelligent Financial Planning
Many people want help making good financial choices and planning for the future, especially as they think about retirement. However, they wonder whether hiring an investment advisor is worth the money. After all, advisors charge fees or commissions … how much do they really help?
At Steward, we deliver wealth management, which is different from investment management. We focus on financial planning to help clients invest strategically, in a “smart” manner. This means taking a holistic approach and providing meaningful advice that considers the total return for our clients, not just returns from investments.
Thinking about how an investment affects taxes, what type of account to place it in and even how to take money out when needed can significantly affect the total amount of spendable income an investor receives. Considering all these factors, an investment with lower market returns may actually result in more spendable income when used in a smart way.
Recently, Morningstar, an independent research firm, studied the impact of smart wealth management.1 They identified factors other than just picking good investments that create real financial gain.