A good portion of my clients already have a financial planner that they work with. Each year, they probably sit down with their planner at least once to review their plan. At the end of the year (or the beginning of the following year), they probably have a follow-up call as well. It becomes like clockwork (usually because the planner has it marked on their calendar when it is time to call their clients each year). Many times, the meetings are very cordial affairs. The plan in place is working. There’s no need to change anything. Oh, and they will normally ask if you have updated your will (or if you even have one). The will part of the conversation is where I often come into the equation.

When is it a Good Time?

My friend Tony, a wealth advisor with a thriving set of clients, would tell you that it’s always a good time to meet with your financial advisor. He’s a busy guy. Never seems to have a “slow time” of year. But I assume that’s because he’s good at what he does (email me if you want me to connect you to him).

Aside from your pre-scheduled meetings, there are plenty of other times that may be good to meet. If you’ve had major changes (i.e. a change of job, got married, etc.), then a meeting is probably in order.

One time that not everyone thinks about is after they have updated their wills and estate plan documents. You’ve finally checked that off your to-do list and feel like you have everything set up. But as we have discussed before, the interplay between your will and your accounts with beneficiary designations is very important. Perhaps after the glow of finally getting your will put together wears off, it’s a good time to reconnect with your financial advisor. It can be a quick meeting, but it helps to bring your documents and make sure that your beneficiary designations align with your estate plan.

What if I Don’t Have a Financial Planner?

If you don’t have a financial planner, then maybe now is a good time to talk to a few of them. You’ve taken the time to create a will and estate plan documents. But there can be many other financial incentives out there for you to take advantage of. Just like a lawyer, a financial planner can seem like an expensive luxury. Maybe just for the folks down the street in the big house. But in reality, a good financial planner doesn’t have to cost a fortune. And when you factor in other financial savings they can get you, they often can pay for themselves.

Next Steps

If you’ve signed your will or updated it, now is a good time to talk to your financial advisor and if you don’t have one, give me a call (877) AMAYERS or email me and I can give you a few names to get the ball rolling…

Andrew Ayers
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I work with business and estate planning clients to craft legal solutions to protect their legacies.