Life is full of change. Some of that change is the result of the natural progression of time, like having a baby, sending your kids off to college, or your parents getting older and needing some help. Then there’s change that’s either unexpected or out of your control, such as an illness or shifts in the markets.
All these changes can wreak havoc on your financial plan if you’re not careful. A financial review could make a world of difference and help you reevaluate your strategies and goals to make sure they align with your priorities.
Does this resonate with you or anyone you know?
Give Your Finances A Checkup
Think of a financial review like an annual physical exam from your doctor to make sure your health is optimal. During my checkup with your friend or family member, I will take the time to get to know them and become familiar with their unique financial situation. I’ll ask them to outline their financial goals and review their current plan, 401(k), investment portfolio, insurance policies, and more. I believe that their story is key to my planning process. This initial understanding allows us to get on the same page and start customizing a financial road map to set them on their way toward pursuing their goals.
I’ll also answer any questions they may have about the market, strategies and safeguards, or basic financial tips and principles. Then I’ll combine all their concerns, ideas, and dreams to make sure they line up with their current plan.
It’s Worth It
As life progresses, many changes take place. Therefore, periodically reassessing goals and plans are vital. Once I have a complete understanding of your friend or family member’s current goals and financial situation, we can work together to evaluate and adjust. I will also consider upcoming milestones, such as major purchases, marriage, children, education, or retirement, to determine how their finances might be affected in the future. If I think everything continues to be well suited to their long-term goals despite fluctuations in the market or personal life changes, I will gladly tell them so.
If, on the other hand, I discover gaps in their plan and find it no longer fits their financial goals, I’ll explain why without resorting to complicated jargon. And, if they’d like, I’ll recommend some alternatives. It may be that minor adjustments are needed based on their age, current economic woes, or a change in priorities and plans.
It never hurts to have a professional take a second look at their financial plan to ensure that it is up to date, still applicable, and designed to make progress toward long-term dreams. Regardless of the outcome of our second look, I hope they will have full confidence in me, their decisions, and their financial plan.
Do You Know Someone Who Needs This?
I’m proud to say that most of my clients are referrals from other clients. Over the years, I’ve built strong and long-lasting relationships with clients who not only have confidence in me to manage their money, but also value me enough to refer their loved ones. More than just an advisor, I also aim to serve as an collaborative guide, a resource to lean on, a financial teacher, coach, and professional to be relied upon for advice. Letting someone else know about your exceptional experience working with me is the highest compliment you can give.
If you know someone who would benefit from a financial review, send them my way, and let me help them evaluate where they are now, determine where they would like to go, and address any gaps that may be apparent. And, of course, feel free to book an appointment for yourself if you think you may be due for a checkup. Call my office at (949) 221-8105 x 2128 or email me at firstname.lastname@example.org to start the conversation.
About Mike Loo
Mike Loo is an independent financial advisor with more than 20 years of experience in the financial services industry. His mission is to make a meaningful impact on the lives of clients and the people they care most about, help them make educated decisions with their money, and build a strong financial foundation for both themselves and their next generation. Mike is committed to meeting a high standard of excellence, taking the time to listen to clients’ needs, and designing strategies that aim to help clients save money and reduce debt. He seeks to fit a client’s investments into their life and educate them so they’ll understand their investments. To learn more about how Mike may be able to help, connect with him on LinkedIn, call his office at (949) 221-8105 x 2128, or email him at email@example.com.
Mike Loo is a registered representative for LPL Financial (LPL) and an Investment Advisor Representative (IAR) for Trilogy Capital (TC). Securities offered through LPL, Member FINRA/SIPC. Investment advisory services offered through TC, a Registered Investment Advisor. TC markets advisory services under the name of Trilogy Financial (TF), an affiliated but separate legal entity. TC and TF are separate entities from LPL.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.