Making a plan to pass on your wealth and wisdom can put you at ease and save loved ones all kinds of complications. Plan for what’s next with expert advice.
What can a financial advisor do for you?
By ATB Wealth 13 February 2023 4 min read
Michael Gee, a senior financial advisor with ATB Wealth, says a financial plan should be tailored to the unique goals and dreams of each family.
Whether you’re conquering the world on your own, raising children or caring for family, life can be busy. It is said that “life happens while you’re busy making other plans,” and a year can seemingly go by in the blink of an eye. You’re working hard and making money, but is your money working for you?
Working with a financial advisor can help make some of your questions and worry disappear, help you develop your personal financial plan, and give you more time to do the things you love.
What does a financial advisor do?
Building a relationship with a trusted advisor is like adding a supporting cast member to your family production. They’re your trusted professional that is dedicated to understanding what’s happening in the market and the economy, assessing how those changes can affect your portfolio and proactively making recommendations to help you stay ahead.
They’ll work with you to build a financial plan and can help you make appropriate adjustments as your life situation changes. In short, they carefully listen to your goals and continuously plot the best path to help make them happen.
It starts with trust
Your money is a personal matter and establishing trust with your advisor will give you the confidence that you’re headed in the right direction. "We don’t treat our clients as numbers, but as individuals, each with hopes, dreams, worries and questions," says Michael Gee, senior financial advisor with ATB Wealth. "Each client relationship is unique, and we take your best interests to heart."
At the end of the day, you don’t want a one-size-fits-all solution as your financial plan; you want to be heard and understood, with a strategy that’s right for you and your family.
Providing peace of mind
Trying to make sense of where to invest your money in a world that’s constantly changing can leave you feeling frustrated and confused. Adds Gee, “A lot of our job is to help filter out the noise. We do our research and talk to our clients about what does and doesn’t affect them in understandable terms. We can help calm our clients’ fears and help them make decisions about where to put their money.”
Having a trusted expert working for you means less time trying to make sense of investor jargon and market turmoil—your advisor will make sure you have the information you need to know, letting you feel like you’re in the driver’s seat with a team ready to back you up.
Helping you with the hard conversations
With wealth planning can come important, but difficult conversations, particularly around wealth transfer. Gee says a wealth transfer plan is a critical component of a client’s holistic financial plan, and a good advisor can help clients understand their assets and discuss their estate goals. They can also identify any potential disputes, risks or challenges, as well as bring in additional experts to help draft the estate plan, look at tax consequences and ensure protection of the assets. “By planning today we can ensure the transfer of assets and to make sure last wishes are carried out to protect future generations,” says Gee.
With you in good times and in bad
Like any strong relationship, you should feel comfortable being open and honest with your financial advisor, and if you don’t, it might be time to look for a new one. Says Gee, “I never want my clients to feel embarrassed about any financial challenges they might be facing. I want to be an extension of their family team, giving them straightforward advice in a way that’s easy to understand.”
What you should bring to the table
Working with a financial advisor is a two-way partnership. They’re getting your money working for you and helping you stay on track with your financial plan, but it’s important to understand your role in the relationship, too. Says Gee, “My best client relationships are built around open communication, sharing honest opinions, providing a forum to speak freely and mutual respect. When those things are all in place, we can put a great plan into motion. My clients feel like they don’t have to worry about their money, and I have the great satisfaction of playing a role in their success. It’s win-win.”
Working with a financial advisor can help free up time so that you can focus more on your family, business, social endeavours and chasing your dreams. A financial advisor should be someone you feel you can trust to listen to your concerns, answer your questions, help you make a financial plan and develop strategies to help get your money working for you. When you work with your financial advisor, you’ll feel that your money is in good hands and you can check one more thing off your to-do list. Relax, breathe. Your financial advisor is looking out for you!
Contact ATB Wealth to learn more about how our team of experts can help you reach your financial goals.
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