Build a Winning Financial Team

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Almost everyone needs help planning for a financially secure future. Perhaps you are starting to plan for retirement and need help deciding how much to save and what type of investment vehicles you should use. Maybe you are a business owner thinking about how to transition your business ownership when you retire. Your concern might be how to reduce and pay potential estate taxes when you die. Experts are available to help you plan for your financial future.

Here are some tips for finding a team of experts who can help you navigate through life’s financial challenges.

Take a team approach to your financial health. You’ve already put together a team for your personal health. Consider taking the same approach for your financial security.

You are probably already working with a financial professional, such as an insurance representative, who can help put you in touch with a team of experts who have the in-depth knowledge you need to address the various parts of your financial plan – your retirement plan, your education savings plan for your children, your business continuation needs, and your estate plan and insurance needs.

Ask your team members about the type of clients they work with, to see if their backgrounds are similar to yours. Find out how they communicate with their clients and how often. Take time to get to know them, so they can successfully meet your needs today while helping you build for the future.

Team members communicate. Your main contact should coordinate your overall financial security plan to ensure that it is integrated and addresses your individual needs. You should expect your team members to communicate with you clearly and make sure that all your questions are answered. You should also expect that your team will tell you when you should be contacting your attorney or accountant and will make themselves available to these professionals.

Team members should care about the long-term. Your team should not abandon you after one goal is met, such as rolling over an IRA or funding a college savings plan. You should expect your team to touch base with you at least annually, to see how you’re doing and to adjust your financial plan as life circumstances change.

Finally, trust your instincts about whether you believe this will be a beneficial relationship as you achieve financial security. Remember – it’s your financial goals that count!

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