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Ryan Marshall, CFP®
642 Wyckoff Avenue
Wyckoff, NJ 07481
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Top 7 Reasons to Meet with a Financial Planner

Top 7 Reasons to Meet with a Financial Planner

| May 10, 2019

Top 7 Reasons to Meet with a Financial Planner

I decided to compile this list of reasons to meet with a financial planner.  Over the past few years I have come across potential clients who weren’t sure when to contact a financial planner or know exactly what we do.  The best part is most financial planners like we do at Ela Financial Group offer complimentary consultations.  We can tell you if we can help or get you in touch with someone who can.

Here is my lucky top 7 list of reasons to contact a financial planner.

  • Life Event – There is a reason this is at the top and that is because it is the number 1 reason you should contact a financial advisor. When something happens in your life you don’t need to go it alone.  Did you just lose your job, get married or did someone you care about recently die?  These are just some of the reasons you should contact a financial planner.


  • Water Cooler Advise is your only financial advice – Looks can be deceiving. Just because a co-worker drives a fancy car or has a nice home does not make them a financial expert.  We have seen a lot of fakers out there and these are the last people you want to listen to.  As one of our favorite book, The Millionaire Next Door state “Big Hat and No Cattle”


  • You have no idea where to start - But know you want to retire some day and would like to provide for your family now and in the future. Talk to a financial advisor to help visualize your goals and to help put them together in a plan.  One of our jobs is to help coach you financially.  If you played sports as a kid the coach would always keep you honest and help bring out your full potential.  We try to do that for our clients here.


  • Your financial advisor is an 800 number – If you need to call an 800 number and speak with a clerk it might be time to speak with a professional. These call support people may be paid to get you off the phone because they have a que of full of other people with various questions.  They stick to a script and it may not be in your best interest.  Furthermore, you probably need to re-explain your financial situation every time you call.  Who has time to wait on hold these days for more than a few seconds.


  • Where do you really stand? – This is one of the most popular questions I get when I am just about finished with a prospective client. You want to know where you stand versus your peers and you want an honest answer.  See most people suffer from the “Atlantic City syndrome” where they never lose or inflate their numbers when they speak with you.  As financial advisors we are lucky enough to see which clients are doing it right and which ones need to stop spending.


  • You own target date 2030, 2040, 2050 and 2060 because you weren’t sure what to invest in – When I come across statements that have multiple “target date” brackets it is usually a clear signal this prospective client needs help with their overall allocation. When I ask them why they decided to invest this way, I mostly get blank stares and they tell me they really don’t know why, but figured this would be “diversified”.


  • Your 401k investment selection is based on the best performing fund from the previous yearWhen I was 18 I did this too and it almost cost me my entire college savings. I learned quickly this is not the best way to invest and there is a lot more that goes into investments then just returns.