Do You Need a Financial Advisor?

Do You Need a Financial Advisor?

June 27, 2016

When’s the last time you felt unprepared for something, whether it was a meeting at work or an event at your kid’s school? Now when’s the last time you ever regretted preparing ahead for an event or presentation? We’ve all experienced the stress of being caught off guard, and we’re familiar with the satisfaction that comes with being prepared and ahead of the game. Working with a financial advisor falls into the latter of emotions. Regardless of your income or age, here are just three reasons why you may need an advisor.

1. You Don’t Know What You Don’t Know

How much should you contribute to your 401(k)? What types of investments make the most sense for your circumstances and goals? Should you list your beneficiaries as per stirpes or per capita? Often, it’s not until we face a major decision or make a mistake when we realize that we weren’t equipped with the proper knowledge. And then it may be too late to find help or rectify any missteps we make.

A financial advisor isn’t just there to hand you a financial plan and set you on your way. Think of an advisor as your lifelong financial partner. He or she can provide education, objective advice, and ongoing guidance as you encounter new challenges and opportunities. This could mean adjusting your strategies, or simply reassuring you of your progress. And with education and a reliable partner available to answer your questions, you can feel more empowered to make informed decisions.

2. Helps to Ensure Continuity in Your Financial Plan

There’s often one financial manager of each household who pays the bills, renews the insurance policies, and handles the financial plans. But what would happen if that financial manager passed away unexpectedly? Is your family prepared? Would your spouse or loved ones know where all accounts are housed and what policies are in place? 

Over the years, I’ve worked with many couples who feel financially secure. However, the financial manager of the household was worried that the planning that he or she had done would fall apart should something happen to him or her because the other spouse wasn’t up to speed on everything. As a result, those heads of households wanted to make sure they worked with an advisor would be there for the surviving spouse and make sure their financial household stayed strong.

A financial advisor doesn’t serve you alone; he or she also helps your entire family and even your next generation. Should a financial setback strike, your advisor can help your family pick up the pieces and take the proper next steps to keep their financial house in order.

3. Saves You Time

How often do you look at the stock market? When’s the last time you reviewed the latest tax laws or retirement plan limits? Managing your finances and investments can quickly become a full-time job. Trends, strategies, and legislation are always changing, and it’s hard to keep up. 

Last year, I had a client who was considering purchasing life insurance based on brand name recognition and assumed that the insurance policy would serve purely to replace her income.  During our conversation, I explained that there are companies that offer life insurance that she didn’t necessarily need to die to use. After analyzing her options, the insurance I recommended ended up being from another brand name company with just as good of a financial rating, but for a lower price.

Part of a financial advisor’s job is to stay up-to-date on investment vehicles, insurance companies, tax laws, and retirement plan strategies. They then use their knowledge, training, and experience to recommend options that align with your particular circumstances, needs, and goals. 

Next Steps

The first step in working with a financial advisor is a consultation. You want to work with an advisor you’re comfortable with, who you trust, and who you can see yourself working with for many years to come. With every new person who walks in my door or gives me a call, I like to take the time to get to know each other to make sure we are a good fit. If you’re ready to learn more about my services and how I may be able to help you, contact me today.

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

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.