If you’re someone approaching retirement, realizing it’s time to start working with a financial adviser is step one. Next, of course, is finding an adviser that is right for you.
Now what?
The kick-off meeting with your adviser is on the calendar – but have you considered what you should be doing ahead of that meeting to prepare? To make the most out of your first meeting with your financial adviser, this blog covers some key actions that you can do to prepare and set the stage for a successful retirement planning journey.
Key Takeaways:
During your initial meeting, your financial adviser will ask you questions to get a better idea of where you are at now, and where you want to be in the future. But this meeting is just as much about you getting to know your adviser, as they are getting to know you.
This is your time to understand how they work and what to expect, so you don’t have any surprises in the months or years ahead. Try writing down a list of questions you want to ask ahead of time, so you don’t forget anything you want to cover.
Here are examples of questions you could ask:
The more you know about your adviser and their working style, the more likely you are to feel satisfied and comfortable as you begin working together.
One of the biggest benefits of working with a financial adviser is their expertise in building a personalized plan that works towards your near- and long-term goals. In order to do that, they need a full understanding of what your retirement vision looks like.
Articulating that vision into words can sometimes be difficult. Here are some questions that may help:
As you move throughout retirement, your goals and priorities may shift. That is normal! Financial advisers will be able to adjust your plan to meet your evolving needs. But having a clear starting point will help your adviser build a retirement plan that will feel personalized and will help get you closer to the goals that matter to you most.
Now that your adviser has a good idea of your goals for the future, one of the most important steps to prepare for your adviser meeting is gathering your financial information in one place.
Your adviser can only build a plan off the information you provide them. The more you provide from the beginning, the more comprehensive and personalized your plan will be.
This includes documents such as:
Just like putting a jigsaw puzzle together, building a complete financial plan requires your adviser to see your whole financial picture. Having this information ready right from the start will help the process move more efficiently.
Your first meeting with a financial adviser is an important first step towards building your dream retirement. And while every adviser may have a different way of working and onboarding, taking some time to prepare can help you get more out of that initial conversation.
By coming prepared with questions, thinking through your goals, and gathering your financial information ahead of time, you can help give your adviser a clearer picture of where you are today and where you want to go in the future. Just as importantly, your first meeting gives you the opportunity to get to know your adviser and start to build confidence in your working relationship.
If you haven’t found an adviser yet and are interested in learning more about Advance Capital, schedule a consultation with one of our advisers.