The Advantages of Dealing with A Financial Planner - Kerr Financial
Accounting & Tax
The Advantages of Dealing with A Financial Planner
Category: Accounting & Tax, Estate & Trust, Financial Planning, Investment Management Tags: Canadian, fee only, Feeonly, Financial Advice, Financial Planning, integrated investment, investment strategy, multi-manager

3 Advantages of Dealing with A Financial Planner

The tools available to self-directed individuals to help them manage their personal finances has grown over the years. While this may be true, the reality is also that the complexity and accelerated speed in which financial planning changes is even more pronounced. As a result, now more than ever it is important to have a relationship with a Financial Planner so that individuals can be one step ahead of the changes by thoroughly understand the options and benefits that are available to them and their family.

Advantage #1:  A trusted voice

In recent survey, 1 in 5 Canadian households say their other half does not know how much debt they are carrying. Moreover, just under 24% say they are involved in their overall finances and financial plan. Having only one spouse handle the finances can possibly work provided they have the time and knowledge to take on such a task. Another more profound question would be. What would happen to the family if the spouse handling the finances were to unexpectedly die or become incapacitated? A Financial planner would be able to guide a family through this difficult time and be that trusted voice.

Advantage #2:  Peace of mind with your financial decisions

Individuals and families will face numerous financial planning decisions in their lives and when faced with those decision on their own it sometimes becomes challenging to make the right decision. This is because Financial Planners are professionals and can allocate more time, resources, and expertise then an individual analysing a situation. For example, an individual may want to upgrade to a larger house so that their family can enjoy a better quality of life but are uncertain if they can afford the change and concerned about the impact to their retirement. A Financial Planner can analyse the proposed change by providing the family multiple planning scenarios around this life changing event.

Advantage #3:  Professionalism & follow-up

Financial planners provide a high level of professionalism that is accumulated by rigorous academic standards and most importantly planning experience accumulated over the years. In contrast, most individuals will have the motivation and goodwill to take charge of the family’s finances but will lack the key attributes of professionalism, educational, and experience offered by a Financial Planner. The success of any financial plan is connected to the follow up and the professionals that are brought in to implement the strategies that are recommended.  A Financial Planner would be able to play the role of the quarterback by creating a timeline of actionable items, ensure that deadlines are respected, and guide the professional brought in to ensure that the goals are met.

Summary:  The best guide for your financial journey

A Financial Planner is best equipped to guide individuals in their financial planning journey because they possess the necessary knowledge around financial planning and their experience will present it in a manner that is easy to understand.



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About Kerr

Kerr Financial Group was formed in 1979 for the purpose of assisting individuals to maximize their personal financial resources, alleviate their financial and retirement concerns and simplify the administration of their affairs.

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