Why Is Consistent Financial Planning With A Trusted Advisor So Important, Now More Than Ever?

Maura Schauss |

By Maura C. Schauss, CFP® and Todd Youngdahl, CFP®

Have you found yourself unsure of your financial situation in the past few weeks? For many people, that answer is a resounding yes. In seasons like this, it is abundantly clear that we all need someone in our corner who is helping us navigate the unknown in areas where we lack expertise.

Just like we all are realizing that virtual opportunities are beneficial, they are not always as effective as human interactions. The same can apply if you are using a robo-advisor or trying to manage your financial situation by yourself.

Consider the following 3 benefits for you and your family when you have someone you trust, who holds a holistic view of your financial situation, and who can tailor a financial plan specifically for your lifestyle and goals.

Accountability and Perspective

When your financial situation feels rocky or uncertain, it affects every other area of your life, causing stress on your relationships and mental health. Financial advisors take the time to hear what is causing your anxiety and can walk you through strategies to relieve it; they are more concerned with your well-being than solely managing your portfolio.

Since financial advisors and planners take the time to know you and your priorities, they can provide accountability and perspective on varying financial situations. Whether it be presenting opportunities to invest more while markets are down, reallocating assets to be more in-line with your risk tolerance, strategizing on how you can alleviate debt and take advantage of low-interest rates, or making a plan to create emergency savings, they can make sure you are cared for.

Tailored Services

One key benefit that most people don’t consider when they manage finances themselves or use a robo-advisor is that financial advisors have spent years learning ways to make you successful. Advisors can tailor plans specifically for you, using creativity and knowledge of available opportunities of which those outside the industry are most likely not aware.

Flexibility

If life is a roller coaster, think of a financial advisor as your seat belt or harness; they help keep you safe, so you can enjoy the ride and remain unharmed when a sharp curve or upside-down loop comes.

We go through many seasons in life – college, marriage, buying a house, having a family, earning promotions, opening a business.  Through them all, your financial plan and investment portfolio need to be monitored, adjusted and refined to reach your goals for today and for retirement.  Since financial advisors actively engage with you throughout these seasons, they transition with you and help keep you on track.

Are You Ready to Get Planning?

It might be tempting to DIY your finances or use a robo-advisor to manage investments, especially if you are just starting. But having another human guide you through the other 90% of what these options can’t do is crucial.

We at Washington Wealth Advisors stand ready to work with you through unexpected crises, extraordinary situations and market volatility.  Perhaps you are ready to transition from a robo-advisor to a trusted financial partner or want take the next steps toward creating a comprehensive financial plan?  If so, please connect with us at 703.584.2700, email clientservices@washingtonwealthadv.com or schedule a meeting with Maura. 

About Washington Wealth Advisors

Washington Wealth Advisors is an independent registered investment advisory firm serving high net worth families and small businesses. We focus on holistic financial planning and comprehensive investment management. Leveraging our core strengths of unbiased, active investment management together with a detailed annual financial planning capability, we serve your comprehensive investment and financial planning needs.