50 Things a Fiduciary Financial Advisor Does
for You
INVESTMENT PLANNING
1.
Cares more about you and your money than anyone who doesn’t share your last
name.
2.
Guides you to think about areas of your financial life you may not have
considered.
3.
Formalizes your goals and puts them in writing.
4.
Helps you prioritize your financial opportunities.
5.
Helps you determine realistic goals.
6.
Studies possible alternatives that could meet your goals.
7.
Prepares an investment plan and/or an investment policy statement for you.
8.
Suggests creative alternatives that you may not have considered including the
best way to claim Social Security.
9.
Reviews and recommends life insurance policies to protect your family.
10.
Assists you in setting up a company retirement plan.
11.
Assists in preparing an estate investment plan for you.
12.
Reviews your children’s custodial accounts and 529 plans.
13. Helps you
determine your IRA Required Minimum Distribution.
14. Provides
reminders about key investment planning data.
15. Checks with you
before the end of the year to identify any last minute investment planning
needs.
16. Guides you on
ways to fund health care in retirement.
INVESTMENTS
17. Prepares an
asset allocation for you so you can achieve the best rate of return for a given
level of risk tolerance.
18. Stays up to date
on changes in the investment world.
19. Monitors your
investments.
20. Reviews your
investments in your company 401(k) or 403(b) plans.
21. Reviews your
existing IRAs.
22. Helps convert
your investments to long lasting income.
23. Refers you to
banking establishments for loan and trust alternatives. (I don’t do this)
24. Suggests
alternatives to increase your income during retirement.
25. Records and researches your cost basis on securities.
26. Provides you
with unbiased investment research.
27. Provides you
with personal investment analysis.
28. Determines the
risk level of your existing portfolio.
29. Helps you
consolidate and simplify your investments.
30. Can provide you
with technical, fundamental, and quantitative investment analysis.
31. Provides
introductions to money managers.
32. Shows you how to
access your statements and other information online.
TAXES
33. Suggests
alternatives to lower your taxes during retirement.
34. Reviews your tax
returns with an eye to possible savings in the future.
35. Stays up to date
on tax law changes.
36. Helps you reduce
your taxes with your tax advisor.
37. Repositions
investments to take full advantage of tax law provisions.
38. Works with your
tax and legal advisors to help you meet your financial goals.
PERSON-TO-PERSON
39. Monitors changes
in your life and family situation.
40. Proactively
keeps in touch with you.
41. Serves as a
human glossary of financial terms such as beta, P/E ratio, and Sharpe ratio.
42. Provides
referrals to other professionals, such as accountants and attorneys (depending
you your situation).
43. Shares the
experience of hundreds of his clients who have faced circumstances similar to
yours.
44. Helps with the
continuity of your family’s investment plan through generations.
45 Facilitates the
transfer of investments from individual names to trust, or from an owner
through to beneficiaries.
46. Keeps you on
track.
47. Identifies your
savings shortfalls.
48. Develops and
monitors a strategy for debt reduction.
49. Is a wise
sounding board for ideas you are considering.
50. Is honest with
you.
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