Your First Financial Planning Meeting

Financial planning is always a smart idea, but what many don’t think about is how to prepare for a meeting with a financial planner. Going into the meeting with a checklist of what to cover and at least a basic idea of your financial goals makes the meeting more productive and less stressful. Here are four ways to be ready for the initial meeting.

First, come up with a list of questions to ask the financial planner. Simple queries like why they became interested in financial planning in the first place are a great place to start. The questions can range from their preferred way of communicating with clients and hours of operation to details about the kinds of accounts they usually manage and why. Think of the meeting as a job interview. Trusting your money and your financial future to another’s expertise is a big decision, so in addition to learning about your prospective planner’s experience, you’ll want to assess how comfortable you are interacting with him or her.

Second, it’s important to understand your current financial picture before going into the meeting. Know how much you make every month, what investments you have, what your expenses are and what your entire debt picture looks like, including student loans and credit cards. Before you can get serious about investing, you need to know just how much you can put aside every month. Truly understanding your financial situation will also help you assess how much more you might need to bring in to create a solid financial plan.

Third, have a list of the goals you’d like your financial planner to help you achieve. Having a preset list of expectations will help your advisor quickly understand what you want to accomplish and help you both align on the next best steps.

Lastly, know where your financial weaknesses are before talking to a planner. Prior to the meeting, review several months of bank account and credit card statements to see where you might be overspending. Identifying spending issues early in your new relationship will save the planner time and detective work to figure out the best approach for you.

Don’t put off financial planning for fear of choosing the wrong advisor. Schedule a free consultation with Nicholas Wealth Management today and see why our clients trust us with their financial future.

 

Securities offered through TCM Securities, Inc. Members FINRA – SIPC. Advisory Services offered through Triumph Wealth Advisors and BluePath Capital Management.

The access and use of any product, service or links on this website is subject to the terms of this Disclaimer. David Nicholas & Nicholas Wealth Management shall not be liable for any damages arising out of your reliance to any information provided here. The information and materials provided here, whether supplied by a third party websites, marketing materials, newsletters or any form of publication are provided for general information and circulation only. None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any product or financial instrument. It does not take into account of your personal investment objectives, specific investment goals, specific needs or financial situation and makes no representation and assumes no liability to the accuracy or completeness of the information provided here. The information and publications are not intended to be and do not constitute investment advice, and does not warrant that such information and publications are accurate, up to date or applicable to the circumstances of any particular person. Any expression of opinion is subject to change without notice and is personal to the author and the author makes no guarantee of any sort regarding accuracy or completeness of the information provided. You should not make any investment or financial decisions, without undertaking independent due diligence and consultation with your financial advisor.

This blog is designed to provide general information on the subjects covered.  It is not intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Nicholas Wealth Management and its affiliated companies, and their representatives and employees do not give legal or tax advice. You are encouraged to consult with your tax advisor or attorney.

Annuities are generally considered long-term investments. It is intended for a person who has sufficient cash or other liquid assets for living expenses and other unexpected emergencies, such as medical expenses. A fixed indexed annuity is not a registered security or stock market investment and does not participate directly in any stock or equity investment or index. Annuities are not deposits of or guaranteed by any bank and are not insured by the FDIC or any other agency of the US. All guarantees are solely backed by the financial strength and claims paying ability of the issuing insurance company. With the purchase of any additional-cost riders, the contract’s values will be reduced by the cost of the rider. This may result in a loss of principal and interest in any year in which the contract does not earn interest or earns interest in an amount less than the rider charge. This illustration does not take into surrender charges which may apply to early withdrawals.

 Purchasing an annuity within a retirement plan that provides tax deferral under sections of the Internal Revenue Code results in no additional tax benefit.An annuity should be used to fund a qualified plan based upon the annuity’s features other than tax deferral. All annuity features, risks, limitations and costs should be considered prior to purchasing an annuity within a tax-qualified retirement plan.Insurance products, including annuities, are offered through David Nicholas, a licensed insurance agent in the state of Georgia.

Leave a Comment





Securities offered through TCM Securities Inc., 2230 Towne Lake Parkway, Building 800, Suite 300, Woodstock, GA 30189. 404.889.8733. Members FINRA/SIPC. Investment advisory services offered through Triumph Wealth Advisors.