You know the old saying, “Two are better than one?” Well, when it comes to managing your finances, the same is true. 73% of financial advisors believe that serving their clients with a financial team provides a better overall experience.1 That’s why more and more financial advisors are teaming up to provide their clients with the best possible financial advice for any age and stage of life.
What Is A Financial Team?
A financial team is a group of skilled professionals who work together to provide clients with the best possible financial advice in any season of life. These teams often consist of skilled professionals who specialize in areas such as investment portfolio management, legacy planning, retirement planning, tax planning, charitable giving, and more.
If you’ve ever had the opportunity to work with a financial advisor, you know how beneficial it can be. This person is a skilled and trained financial professional who can help you dream, plan, and provide an unbiased opinion on something as important as finances. If working with one person is helpful, imagine how much more wisdom you can gain from a financial team. These teams can also consist of attorneys, tax professionals, and insurance professionals to provide a more well-rounded and holistic planning experience.
What Are The Benefits of Having A Financial Team?
There are many benefits of having a financial team ready to serve you, both for you and the financial firm you’re working with. Not only does it benefit you to have multiple people with different specialties caring for your finances, but it also means that financial advisors and other professionals can work together to give you the best advice possible.
More and more financial advisors are realizing the benefits of teaming up to serve their clients. This teaming strategy increases the amount of financial accountability and advice you receive while boosting your confidence in handling your finances.
Who Should Be On My Financial Team?
Whether you’re building your financial A-team one by one or looking for a wealth advisory service that already operates with a team strategy, these are the professionals you’ll want to look for:
1. Financial Advisor
This person will help you on your financial journey. Whether you’re looking to start investing or build a retirement plan, a financial advisor will be your biggest advocate.
2. CPA
Whether you do your own taxes or not, working with a CPA can help you with anything from simple to complicated tax returns or questions. As you grow your assets, you’ll want to have someone on your team who specializes in tax planning as well.
3. Attorney
An attorney is a great person to have on your financial team. This person will be able to walk you through the creation of important legal documents like wills, power of attorneys, estate plans, and more.
4. Insurance Agent
Many people don’t realize how important insurance coverage is when they’re growing their assets. As your assets build, your insurance coverage should build as well. Having a trustworthy insurance agent on your team is important—they’ll help you discern how much coverage you need, whether you have too much or too little, and find you the right price.
There are so many benefits that come from working with a financial team. More and more financial advisors are realizing how much more beneficial it is to put their heads together so they can serve their clients along their financial journeys. At SageSpring, our wealth teams are exactly that: teams. We love to serve our clients holistically. When you reach out to one of our advisors, you’ll gain the expertise of a team.
Are you ready to work with a financial team? We would love to serve you. Reach out to one of our wealth teams today.
Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.
