You’ve Benefited From Working With a Financial Advisor. Could Your Friends & Family?

You’ve Benefited From Working With a Financial Advisor. Could Your Friends & Family?

October 11, 2022
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There seems to be a persistent misconception that financial advisors are just for wealthy people. On the contrary, advisors work with a wide range of clients, creating a path toward financial success by helping them avoid common financial mistakes. In fact, one of the biggest “secrets” to achieving financial success is working with a financial advisor. It’s true!

As a current client, you know firsthand how nerve-wracking it can be to take the first step in hiring a financial advisor. But you also know the multitude of benefits that can come from a strong client-advisor relationship; less stress, improved financial security, and increased confidence in your future are just a few.

Considering today’s market volatility and historic inflation, it’s essential to have a trusted advisor in your corner to help you plan for a brighter future. With everything you’re juggling, there’s no way you can do it all yourself. You can always count on us at Favor Wealth to guide you through life’s toughest financial challenges.

Do your friends, family, and coworkers have a similar kind of support system?

When a Financial Advisor Can Help

Even if your friends or family feel confident in their finances, they may not realize the common mistakes they’re making or the investment opportunities they’re missing out on. A financial advisor can look at every piece of your finances and help you understand the larger picture of how to achieve true financial security.

A financial advisor can help you navigate common life events, like:

  • Significant changes to income
  • Marriage or divorce
  • Buying or selling a house
  • Having a child
  • Planning for higher education
  • Severe disability or illness
  • Passing of a spouse
  • Transition to retirement
  • Questions about investments
  • Questions about insurance
  • Questions about tax-management strategies
  • Legacy planning for heirs

Select Your Advisor Carefully

It’s never too late to hire an advisor, and no matter what season of life you’re in, you can reap the benefits an advisor provides. That being said, hiring the right advisor is a task that should not be taken lightly. There are many different certifications, designations, and licenses in the financial services industry, each with their own education and experience requirements. Be sure you know exactly who you’re hiring before signing on the dotted line.

The CFP® certification is commonly regarded as the industry gold standard, but CFA®, Chartered Investment Counselor (CIC), and Chartered Financial Consultant® (ChFC®) are also highly sought-after designations.

Do You Know Someone We Can Help?

At Favor Wealth, we desire to provide unbiased and client-centered financial advice. We’re on a mission to help clients and their families feel both a sense of relief and excitement about their future—and that we’ve helped make it easier than ever to accomplish their financial goals.

If you know someone who would benefit from a collaborative advisor-client relationship, please send them our way! Consider sharing this article with them, and if they’re interested in partnering with us, they can contact us at 626-529-0445 or email Ricky directly at info@favorwealth.com

About Ricky

Ricky Biel is founder, wealth manager and Chartered Retirement Planning Counselor℠ professional at Favor Wealth, an independent financial advisory firm serving individuals and families near Pasadena, California. Ricky Biel founded Favor Wealth with a desire to provide unbiased, client-centered, community-based financial advice. Ricky and his team of caring, smart professionals want their clients to feel like they’ve done them a favor, making it easier than ever to accomplish their financial goals by blending proven investment methodologies with creative financial technologies. He is on a mission to help his family of clients feel both a sense of relief and excitement about their future. Favor Wealth takes care of their clients’ needs first and foremost and goes the extra mile to make their clients’ finances grow. To meet and see how the Favor Wealth team may be able to help, contact them today at 626-529-0445 or email Ricky directly at info@favorwealth.com

The commentary on this blog/website reflects the personal opinions, viewpoints and analyses of the Favor Wealth Advisors’ employees providing such comments, and should not be regarded as a description of advisory services provided by Favor Wealth Advisors or performance returns of any Favor Wealth Advisors’ Investments client. The views reflected in the commentary are subject to change at any time without notice. Nothing on this website constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Favor Wealth Advisors manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.