The average American does not like to spend much time talking about money. However, many people can benefit from the services of a financial advisor in Hayward, CA, whether it’s just for a one-time question or for ongoing assistance.
Here’s some information about when it makes sense for you to approach a financial advisor for assistance with your own financial issues.
There are many financial advisors who are happy to work with clients in a one-off meeting to develop a financial plan or to help them with a specific question or issue. These advisors typically work on an hourly basis, though some will take on certain types of projects for a flat rate.
You might ask for one-time financial assistance from an advisor if your place of employment recently offered you a buyout package to encourage you to take an early retirement. It can be very helpful to have the assistance of an expert as you attempt to determine whether or not that buyout package would be a good deal for you and if you have saved up enough money to make an early retirement a legitimate possibility.
In some cases, a one-off appointment with a financial advisor can turn into an ongoing relationship, so you don’t have to feel as though you’re limiting yourself to a one-time-only arrangement if you find you can actually benefit from ongoing assistance from your advisor.
There are some circumstances in which you may have ongoing financial issues that make it more sensible for you to work with someone on a long-term basis. For example, if you have investment portfolios and are in need of ongoing advice or management of your accounts, it can be beneficial to work with a full-time advisor who can look out for your best interests and keep you financially secure.
You might also choose to work with someone on an ongoing basis for issues such as estate and tax planning, retirement planning, college savings planning and many other types of considerations.
In this case, you wouldn’t pay an hourly or flat rate, but rather a percentage of the investment assets you have under management.
You can benefit from a long-term financial advisor arrangement in that not only will you have a professional watching your assets for you, but you’ll also receive plenty of advice on your situation throughout the stages of your financial life. You can feel free to constantly ask questions during this relationship. Just make sure you’re working with someone who has experience in the types of tasks you need them for, that they charge a reasonable price for their services and that you’ll be able to contact them easily enough whenever you’re in need of advice or assistance.
If you’re interested in learning more about how you can establish an ongoing relationship with a financial advisor or tax professional, we encourage you to contact a financial advisor in Hayward, CA at Menjivar & Company CPAs, Inc. today with any questions you have.
Categorised in: Financial Advisor