Six advantages of a Financial advisor

Six advantages of a Financial advisor

Posted on by Matthew Laker

How can having a financial advisor help? When I speak with people I often share with them I am really a financial coach. I get to come alongside and help people reach their goals. A financial advisor should be the same. Here are six ways a financial advisor/coach can help.

1.Setting and achieving planning targets

Have a coach can help you gain focus and stay on track. A good financial advisor is a coach that helps you clarify your goals and create a plan to reach your targets.

Those who have a financial advisor tend to have higher investable assets as compared to non-advised households. As well increased Accumulation of financial wealth regardless of income level or age of household

2. Choosing the right vehicles and plans:

Often some of the challenges in building our financial house is finding the correct vehicle to help us reach our goals. A good financial advisor/coach will show you the options. Make sure you ask lots of questions on why this option or that one.

3. Advised households save more, regardless of income and age than their non-advised peers.

There is something about a coach that keeps us on track. We all make many of our choices based on emotion and may want to go do something not in the plan. The coach can remind us of our why our goals and why this plan. Any good plan has to be massaged over time, but those with advisors tend to make those changes.

4..Setting the right investment mix:

Having diversification is important for proper success in investment. Many will want to jump on the new thing or chase daily numbers. As a financial coach/advisor for my clients, I want to make sure my clients have a good mix so if one part is losing money the rest are making money and they are still ahead.

5.Financial Literacy

Education is an important part of financial advise/coaching. Having access to an advisor who is keeping up with training and education means they get to pass that knowledge on to you.

6. Advantages of a Regulated Market

Here in Canada each financial advisor, those selling life insurance and investments funds are regulated by a few oversight organization that work to make sure clients are put first and ethical.

Source: http://www.ci.com/web/pdf/ific_value_of_advice_e.pdf

3 Steps to conquer your money problems

3 Steps to conquer your money problems

Posted on by Matthew Laker

“The number of vulnerable households – those putting more than 40 percent of their income to cover debt payments – “is likely to rise,” the bank said, and fall behind on loan payments even with deferrals to some 700,000 households so far. “(https://www.cp24.com/news/bank-of-canada-warns-in-report-of-business-household-debt-from-covid-19-1.4940479)

I want to talk with those who are struggling financially. As I post, this COIVD-19 has spread around the world. 

The crisis can cause us to put our head further down into the sand or stand tall and move through.  

I believe a crisis is a great moment to evaluate your financial house or life spoke?

Crisis reveals the holes in our financial house. 

What do you need to do?

  • Understand the moment.

When I sit down to coach people, the first place we start is with reality. We look in the mirror, and that is no easy journey. We take a moment to evaluate and understand where we are at, to move forward. You need to know where you are at. 

  • Get a plan

The reality is we all have a plan. For some of us, our strategy is spending when I want and hope everything works out.  

Others, you have a plan in your head, a good idea of what comes in and what goes out. You even watch what you spend.  

 For those who have a plan, when was the last time you looked at it?

For those with no plan, where are you going with your financial house

  • Stick with it and ride the journey.

The other day I was listening to a business podcast, and they were talking about how so many people fail. However, the ones that succeed are the ones that pick themselves up after falling and keep going. 

What about you?

Why do you need to do this?

Show your kids a better way – Break the cycle.

Bankruptcy – is a real thing, and you can do better. 

Mast your money instead of it mastering you. 

Find financial security 

You have a choice to start making baby steps in the right direction.

Perhaps you need a good tune-up financially? Then pull into the garage. 

Master your money instead of it mastering you. 

If you want some help with this, let me know? (Free 30 min call)