What to Expect When You Meet with Financial Planners

If you’re new to working with financial planners, we’ve put together this short article to help you understand our process when working with a new client. (If you’re already established with us, the end of this article features some insight for you.)

New clients:

When you first come to our office, we want to get to know you so we can give you our best financial guidance based on your unique circumstances and needs. Here are the kinds of questions we may ask you:

  1. Your goals and life objectives as they relate to you and your family, and your finances. Your attitude towards money, what do you believe money should do for you? (It’s important that your beliefs and values—and your attitude towards money, investments and risk—are clear to your advisor.)
  2. Your age, your family members’ ages (children, grandchildren, parents, nieces, nephews). Which are your dependents, or may become your dependents? What is everyone’s health status?
  3. Your present income and projected future income.
  4. Your current and projected expenses. Is there college or a wedding in the future? Are you considering retirement? Are you concerned about your heirs or legacy?
  5. Your other assets and liabilities.
  6. What you should bring:
    • Your latest tax returns, including corporate returns if you own a business.
    • Your latest financial statements for any funds or investments you hold (IRAs, 401(k)s, other accounts). Social Security statements, if you have them.
    • Current wills or trusts. (NOTE: We can help with these, too.)
    • Current printed information about employee benefits offered to you, including stock options, insurance coverage/s, pensions, other forms of deferred compensation.
    • Your current financial or retirement plan (if applicable).

It may seem like a lot of information, but a good financial planner or financial advisor needs to know as much as possible in order to be effective.

A financial planner may recommend a specific strategy that relates to tax minimization, estate planning, business exit planning or retirement income—and those strategies will directly relate to YOU and your unique needs based on the information you’ve given.

If you only give a small part of the whole picture, you can’t expect to receive comprehensive financial advice. By working openly with your financial planner, you may find that you come away with a completely new view of your finances and wealth. You may even feel more peaceful about money, instead of anxious about it.

Established clients:

If you are an established client, it is important that you keep us up-to-date on any changes in your life, including marital or address changes. Have you made any new acquisitions? Added (or lost) any family members? Remember, your named beneficiaries on assets like insurance policies take precedence over what is specified in your will, so we need to keep everything current. Have any of your goals changed? Let us know.

Call DuPont Wealth Solutions at (614) 408-0004. We’re headquartered in Dublin, Ohio.