Is Now the Right Time to Hire a Financial Planner?

NEW YORK, July 21, 2020 /PRNewswire/ — Most people have made a financial plan at one point or another in their lives. It could be for something small such as a new set of golf clubs, or something big, such as purchasing a home. Financial plans vary depending on the individual, but every plan has the goal of helping an individual achieve financial freedom. Zoe Financial is empowering Americans to achieve this financial freedom by connecting them with highly vetted and curated fiduciary financial planners across the country. A financial planner’s expertise in helping an individual plan early and stick with their plan can make all the difference in achieving their financial goals. 

Zoe Financial

Zoe Financial

How to Find a Financial Planner

Finding the right financial planner can be overwhelming. Much like finding a partner – someone truly trustworthy –  it’s hard to know where to start in the search for a financial planner. Not only do many financial planners not have their client’s best interest at heart, but seldom are they also exactly the right match for a client. Plus, there are plenty of financial planners who are really glorified salespeople. Instead of offering unbiased advice and a holistic approach to financial planning, many are incentivized to recommend products that pay the highest commission.

Zoe Financial exists to make sure this doesn’t happen. Zoe Financial’s cost-free digital matchmaking service gives individuals the power to discover three top local fiduciary financial planners with the click of a button. Each match aligns with the financial objectives the individual aims to achieve, as well as their unique financial situation. Additionally, all financial planners in the Zoe Network are fiduciary and legally bound to act in the best interest of their clients.

Three of the Top Reasons for Hiring a Financial Planner

1. Financial Planning for Taxes

Zoe’s curated network of financial planners has extensive expertise in creating a tax planning strategy. When an individual creates a tax strategy, they will need to analyze their finances, assets, and liabilities so that they can optimize their taxes. Financial planners are often utilized for this, as there are many variables to consider while optimizing taxes. A financial planner will consider the timing of income and purchases, size of income, selection of investments, and even the type of retirement plan a person has. By doing this, a person can save thousands of dollars, significantly contributing to their overall financial plan.

2. Financial Planning for Investing

Another important element of a financial plan is investing, as it can help an individual save on taxes, build wealth, prepare for retirement, and even stay ahead of inflation.  According to Zoe Financial’s Founder CEO, Andres Garcia Amaya, “Investing isn’t one-size-fits-all! Your financial goals, unique financial situation, time frame, risk tolerance, and comfort levels are all part of your investment strategy.” Navigating a sound investment strategy alongside a financial planner can ease worries during volatile economic times, as well as maximize long-term returns.

When an individual makes a financial plan, they have to take into consideration their current economic situation. Not only will financial planning help a person to save money during difficult times, but it will also help them to feel more financially secure in the future. Zoe Financial’s rigorous vetting process ensures that advisors an individual matches with are trustworthy and highly competent.

3. Financial Planning for Your Family

When an individual creates a financial plan, many times one of the big factors includes family planning. When a couple gets married, they are combining their finances. Due to this, it’s important for a couple to openly share their financial situation, including debts, expected budgets, and every other necessary financial detail. 

This will help the couple to establish mutual goals. After the initial organization of finances, most couples make financial plans to build a future together; this includes buying a house, having a baby, or college planning.

5 Steps of Working with a Financial Planner

Step 1: Look at the Bigger Picture

A financial planner works with their client to look at the bigger picture when it comes to their financial situation. By focusing on the individual’s holistic financial situation, they can more easily understand where they can improve and optimize their financial plan to align with their goals.

Step 2: Define Financial Goals

Develop unique financial goals to meet both short and long-term objectives. Whether it’s saving for a vacation or setting up a trust for future grandchildren, a fiduciary financial planner works with their client to ensure the financial goals of the client align with the financial plan set in place.

Step 3: Identify Courses of Action

Identify alternative courses of action and best practices for each goal, such as budgeting, family planning, buying a house, college planning, tax strategy, and investing. There are numerous tools and strategies advisors utilize with clients to help them achieve their financial goals.

Step 4: Create and Implement the Financial Plan

Create and implement a financial action plan. A financial planner will help clients develop a way to achieve their financial goals. This will include any steps or tasks needed to improve a client’s financial situation in conjunction with achieving their goals.

Step 5: Review and Revise the Plan

Review and revise the plan. As the years pass, an individual’s goals or life situation may shift. That’s why a great financial planner reviews and revises the financial plan accordingly over time to align with their client’s life situation.

Although everyone takes different routes to reach their goal, there is a general guideline for the financial planning process. There are different factors that will impact a holistic financial plan, such as income, assets, goals, and unexpected expenses. Working with a financial planner can make all the difference in establishing and achieving financial health both now and later.

About Zoe Financial

Zoe Financial was founded to empower Americans to make better financial decisions, especially when it comes to who they hire as a financial advisor. Work with an advisor who understands their client’s unique situation as well as their short and long-term goals. Zoe is a technology-driven marketplace that connects individuals with Zoe Certified Financial Advisors across the United States, custom-matched for their specific needs and goals. Zoe’s thoughtfully curated Network of the best independent and fiduciary financial advisors and financial planners includes only the top 5% in the country.

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