The Easy Way to Add Value to your Financial Assets
Lee Rosenberg, CFP | July 13th, 2009As you attempt to build your financial life over the coming months and years, consider that if you are not working with a trusted financial advisor, you should make this priority number one. I have been a certified financial planner for the past thirty years and have always reminded clients that good financial advice doesn’t cost, it pays in more measurable ways than you can imagine.
But today, never has this been more true. Given the current world financial collapse, it has been the watershed event that proves that no one can or should manage their portfolio alone. Ironically, there are so many important twists and turns in life for which there is well meaning advice, but not trained professional guidance- dealing with death, divorce, buying a first home or first car, planning for college, etc. But when it comes to financial expertise, there are well respected, knowledgeable certified financial planners in all fifty states. Why go it alone?
A trusted advisor can provide more than a steady hand, like a sea captain in a storm. They can provide that much needed second opinion, which can prevent you from making a critical mistake, like a new client who came to me after choosing her retirement pension option and discovering that she had made a very costly decision.
Asset allocation is perhaps of the best and most common reasons to use a CFP, as no matter how intelligent or successful you are in your field, you are not likely to be trained to monitor and reassess your portfolio (or have the necessary time). We prove again and again that having a CFP thoroughly research and shop for your best investment strategies saves money and fees, as well as gives you the best possible chance for financial growth and security.
Remember that CFPs can also help with portfolio choices, tax and estate planning, retirement planning and integrating personal financial goals into a plan that fits your lifestyle. This is especially true for retirees who now must distill income from their declining portfolios and who don’t have the option to work another twenty years to make up for the shortfall.
That is why there has never been a time when seeking out expert financial advice has been more critical to your personal security and preservation of assets. If you are going it alone because you are concerned about fees, ask yourself what is going to cost you more in the long run. Investing in a personalized plan from a certified financial planner, or making your own decisions and hoping it all works out?
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Tags: assets, avoid financial collapse, cfp, financial planner, financial planning, investing, lee rosenberg, lee rosenberg cfp, reassess your portfolio
About the Author: Lee Rosenberg is the Co-founder of ARS Financial Services, Inc. As a Certified Financial Planner with more than 34 years of solid financial expertise. Lee is a registered representative of Cadaret, Grant & Co., Inc. He was also named one of the top 25 Independent Financial Advisers in the US by Rep magazine.
