Certified Financial Planner in Naples FL 34109

In our last blog, we discussed the first of three important questions to ask at your investment review. Investment reviews usually occur annually, and they are crucial parts of managing your wealth. A review is the perfect time to ask questions that have been on your mind. There are many important questions to ask, but we will focus on two below. You can find the first question here.

Question 2: What needs to change?

  • Identify big changes required for your financial or personal situation
    • These are changes like taking financial responsibility for a family member or buying a second home. Communicating theses new situations to your advisor is very important.
  • What adjustments would you recommend?
    • Your advisor may recommend a change in asset allocation or an adjustment to your investments. If this happens, ensure he or she clearly explains why. Typically, changes should come from investment performance, market outlook, or changes in your risk tolerance or personal situation.
  • What will the proposed changes do to your taxes?
    • If your account is taxable, make sure that your tax advisor reviews any planned sales. There may be advantages you can take of pairing or timing opportunities. 

Question 3: What is the plan for the coming year?

  • Before your review ends, you and your advisor need to finalize the coming year’s plan. You should both agree on a road map that addresses both your communications plan and investments. Advanced Wealth Advisors recommends quarterly statements in addition to an annual review at minimum.

At Advanced Wealth Advisors, we will help you clarify all of these questions and more. Your success and comfort are our first priorities. Contact one of Southwest FL’s skilled financial advisors by clicking here.