How do you know when it is time to forge a professional partnership with a Certified Financial Planner™ professional? The team at Valley National Financial Advisors offers five scenarios.
1. “The Usual” Life Events
Marriage, children, a career change or when making a large purchase such as a vacation home: These are landmark events that involve life-changing decisions and often require an investment of time and capital to identify optimal planning strategies. In addition, unforeseen events like the death of a spouse, serious personal illness or injury, or divorce, can dramatically shift your vision for the future. Navigating through each phase of your life is difficult enough without adding layers of complexity when having to reevaluate your financial choices. Having someone at your side who understands you on a personal level but can also provide objective, professional guidance as a fiduciary helps ease the burden and worry associated with times of significant change.
2. Experiencing a Windfall
Suddenly finding yourself with an influx of wealth can be very exciting, and very daunting when it comes down to the details. Inheriting assets from a family member or winning the lottery can complicate tax planning and completely change your approach to things like cash flow management, retirement savings, estate plans and charitable giving. Transitions have their own emotional hurdles while managing a financial gain. It can be tough to go it alone.
What happens when you finally land that executive-level promotion? Executive compensation packages add a level of complexity that require a detailed understanding to identify the best way to maximize the benefits toward your personal financial goals. While a promotion may make you increasingly busy, take the time to consider engaging with someone who can explain your options and quarterback your financial game plan.
3. Family Drama
If you struggle to get your family on the same page with goals and strategies, perhaps you need an objective voice. Long-term care needs for parents or blended family situations involving divorce and remarriage can often create or complicate these situations. Complex financial lives, especially those that span several generations, often benefit from a mediator to ask the right questions and provide options. A financial advisor can assist with communication and coordination of individual goals to add clarity in a family’s shared financial future.
At the eventual transfer of wealth, having someone your family knows and trusts to help facilitate can ease the stress and maintain the integrity of your intentions.
4. Slaying the Debt Monster
You have finally reached a point in your life where managing debt is no longer your biggest financial question. You’re in the black, but all or most of your savings is in cash accounts. Now what? Starting a conversation with a financial professional can help you bring your short-term and long-term goals into focus. An advisor can help you manage your wealth now, plan for your future and set up risk-management strategies to protect you from the unknown.
5. Way Too Busy or Too Overwhelmed
The period of the most wealth accumulation is often the time of life when there is simply no time. Maybe your business is booming, or you have landed your dream job, or your spouse is on the professional fast-track and you are managing the household mostly on your own. Perhaps you retired and you want to spend time enjoying life, not working on understanding the tax code or markets. Having an objective professional in your corner may make the difference in action, discipline and your progress toward reaching your goals.
Do any of these reasons sound familiar? Contact the team at Valley National Financial Advisors for more information.
Valley National Financial Advisors is the marketing name for Valley National Group, Inc. and its affiliates. Securities offered through Valley National Investments, Inc. - an independent broker/dealer and member FINRA and SIPC. Valley National Advisers, Inc is a Registered Investment Adviser with the U.S. Securities and Exchange Commission.
Valley National Financial Advisors | 1655 Valley Center Pkwy Suite 100, Bethlehem | valleynationalgroup.com
This post is a sponsored collaboration between Valley National Financial Advisors and Lehigh Valley Style.
