Leveling up your investing life: The benefits of a financial advisor

By James Viceconte, Head of Investment Product

James joined Citizens Securities Inc. in 2022 and is responsible for the curation and management of the investment product suite of ETFs and Mutual Funds, and portfolio models constructed with these products. As a strategic partner, he has over 30 years of experience in financial markets focused on a broad array of public and private equity and fixed income products.

Wherever you are today, there's little doubt that your own ingenuity helped get you there. Due to your confidence and knowledge, you may already have or can quickly find what will foster your success.

On your journey, you may or may not have had a financial advisor at your side. In fact, you probably didn't. A recent IPSOS survey¹ found that 75% manage their own portfolio and 50% don't see the need to enlist an advisor. And yet, 55% of people surveyed said they felt more confident when working with a financial advisor.

Many people are excellently self-sufficient. But even so, you may be missing out on the benefits of a financial advisor in helping you fine-tune and optimize your financial vision.

Financial advisors can offer the advantage of providing a holistic approach to your financial well-being. From assisting you with budgeting and planning basics to tax-deferred retirement investing to preparing to pass on generational wealth to heirs, advisors have the knowledge and training to support your unique approach to managing your finances.

Here are some benefits of partnering with an advisor that might make it a good move towards helping you build the financial future you see for yourself.

While changes, both the expected and unforeseen, are inevitable, you don't have to figure out how to prepare for them all on your own. A financial advisor can help you plan for life transitions, and they can help you navigate surprises — from family to health care to the economy and more — with less stress.

The IPSOS survey also showed more than half of customers (58%)¹ said their changing life-stage needs worry them the most. Whether it's paying for a child's college education, moving to your dream home or transitioning to retirement, having a go-to advisor can help you financial prepare for your future.

And if that future road gets bumpy, that advisor can help you recalibrate. When a professional with experience knows your finances, you have someone you can readily turn to for problem-solving options.

Financial advisors have multiple ways that can help closer to where you want to be — plus the ability to help you adapt when life's "interesting" moments show up.

As someone who works hard for all you have, you deserve a financial strategy to optimize and protect it. Moreover, you deserve one that's developed by a qualified financial advisor who understands what keeps you up at night.

In your everyday life, you likely tackle a task by assessing it and then figuring out the people, resources and time needed to accomplish it. A financial advisor does this for your finances on a comprehensive scale. Whether your timeline is next month, next year or next decade, an advisor can tailor a plan that aims to get you to your goals as efficiently as possible, with whatever resources you have available and using methods that match your risk comfort level.

Because they specialize in financial advice and planning, advisors can also help you determine when to make adjustments or how to adapt to changes in your cash flow or priorities, often with only a phone call.

Building your wealth has as much to do with the money you put in to your planning as the money that goes out. A financial advisor should know the breadth and depth of your finances.

They also know the broad range of products available that might help minimize your tax exposure now and in the future. This way, they can team up with your tax professional to use a strategic combination of tax now, tax later and tax never strategies that fit your finances to a tee.

If you're managing your money yourself, your retirement and child's college savings may be on track — perhaps even with extra to spare. But multiple what-ifs can hinder your well-laid plans: You may need to replace an old electrical system while sending your second kid to college and supporting an ailing parent during a pandemic that leads to a market downturn. Even inflation and the possibility of outliving your savings are factors you may not have fully prepared for.

Financial advisors can help you identify which worst-case scenarios you may need or want to be ready for and craft contingency plans. One of the benefits of working with a financial advisor is their insight into what tools are available and how they can best be used in building your individual plan aimed for financial security.

Your personal finances mean a lot to you, but they can carry emotional aspects that are hard to separate out if you're always working with your money up close. Sometimes, it keeps you from spotting and fairly weighing all of your options.

That's when having a financial advisor as a collaborative partner can be useful. As experienced professionals, they listen to what you want to do with your money and then offer you an impartial perspective on how you can get there. They can view your savings and investments from a step back and suggest courses of action fueled by reason and an eye to protecting what you've built.

You deserve a plan focused on getting you and those you love the life you imagine. By working with a financial advisor, you could gain a lot of benefits and perspectives you wouldn't otherwise have. From their ability to see and hear your greatest concerns to creating a plan that grows with you throughout your life, an advisor can add significant value to your planning process on top of your own ingenuity.

Citizens Wealth Management focuses on what's most important to you to help you craft a personalized financial plan, no matter where you are on your financial journey. Connect with a financial advisor to see what's possible.

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