was successfully added to your cart.

Tag

financial goals Archives -

When Do You Need a Financial Advisor?

By | 2018, Money Moxie | No Comments

Last week I attended the Silicon Slopes Tech Summit that celebrates the booming Tech sector along the Wasatch Front. As I spoke with vendors and attendees, a consistent theme came up: “When do I need an advisor?”

Here are my thoughts on this and other similar questions I was asked.

Do I really need an advisor? You may not always need an advisor, but you always need a plan. If you don’t have a roadmap, how do you know if you have reached your destination? Many people have vague ideas in their heads of what success looks like. Maybe it’s retiring at the age of 50 and sitting on a beach drinking lemonade. Maybe it’s starting up your own company. Maybe it’s giving back to the community.

It is important to sit down and write out your ideas of success. Then take one more step by defining the path that will take you there. Without creating the stepping stones, your ideas will only remain wishful dreams.

Do you need an advisor to create that plan? No, as long as you are willing to do the research. Nowadays there is so much information available on the internet that you can become an expert in any area…as long as you are willing to do the research. As our CEO Roger Smedley puts it, “You don’t know what you don’t know.” Even more dangerous may be the things you think you know with certainty.

So, if you want to create your own plan, but fear you are missing something, consult with a professional that can identify potential pitfalls and help turn your stepping stones into concrete, actionable ideas.

Don’t advisors cost a lot? At SFS, our initial consultation is free. I love to see young college graduates come in who are ready to conquer the world. I give them some time to help create a plan. I know that if I help guide them in the right direction, they will be more financially secure, and who knows, they may even become one of my top clients in the future.

If a person becomes a client, then there are fees that vary depending on the services provided. Comparing our fees and our in-depth planning, we are a far better value than our competition. I have had people question our cost, but I have never had them question our value.

What you don’t want to do is to get your advice at the water cooler. While good advice may not be cheap, bad advice will always cost you dearly no matter how little you pay for it.

Is it best to talk to an advisor before or after my company goes public? Anytime you are dealing with a potential windfall, you should talk to an advisor. As human beings we constantly overestimate how much something is worth. When I was young, I thought $100,000 for retirement was a lot of money. Now, I know it could disappear in a heartbeat.

So, if you get a windfall, reward yourself by using some of the money to take a trip or do something fun. Just don’t blow it all in one place. The world is full of once-rich people that are now broke.

Make sure your money helps you accomplish your goals according to your plan. And if you don’t get the windfall you were expecting, still talk to an advisor. We can help you reach your goals.

Tags: , , , , , ,

You Need a Wealth Manager—Now More Than Ever

By | 2015, Executive Message, Money Moxie | No Comments

Dear Valued Financial Partners and Friends,

Now more than ever, most people need a Wealth Manager. While financial conditions are constantly changing, your own financial goals do not. Remember our two guiding principles: “Protect what you have. Then seek to acquire more.” As your Wealth Manager, here are some of the roles Smedley Financial can play for you.

Financial Bodyguard: As your financial bodyguard, we can help protect what you have acquired. Our goal is to prevent clients from making serious and costly financial mistakes. We can serve as a devil’s advocate and sounding board, thus helping you through the process of making wise financial choices.

Financial GPS: With respect to your personal financial goals, you always need to know where you are. As an integral part of your financial GPS system, we can let you know whether or not you are on track.

Financial Lighthouse: You need to know you are headed in the right direction, particularly at difficult times. We can help you maintain a proper course through good times and bad. Naturally, this includes not only bull and bear stock markets, but through your sunny days and, more importantly, through your rainy days and dark nights.

Experienced Guide: With respect to the thousands of financial decisions made during your lifetime, you need an experienced team of certified investment professionals to serve as your guide. While some financial decisions may be changed as circumstances and opportunities present themselves, some financial decisions may be made only once. We can help guide you through the jungle of important financial decisions in your life.

Risk Barometer: With respect to risk management, you need to know when to take risk and how much risk to take. Both of these points are equally important. As your risk barometer or gauge, we help you determine the type and amount of risk you need and want to take. Investment management is all about minimizing your risk taking.

At Smedley Financial, we can play multiple roles for you in our role as your Wealth Manager. Remember, your financial success is our passion!

Bullish Best Wishes,

Roger M. Smedley, CFP®
President

Tags: , , ,

What’s Your Risk Number?

By | 2015, Money Moxie, Newsletter | No Comments

Tolerance to market risk can be a tricky thing. When markets are growing it is easy to believe that we are more tolerant of risk than we may actually be. For example, if an account grows by 10 percent we feel good about the growth; that is until we see that one area of the market grew by 20 percent. Suddenly, we feel slighted. In response we reposition investments to take on more risk. This is a common mistake. Risk tolerance should be based on our willingness to lose money. After all, who has a limit on how much money they are willing to make?

Smedley Financial has a new tool that helps our clients identify their risk tolerance. We use this tool to confirm your investments are properly aligned with your actual tolerance for risk. It encompasses all investments regardless of where they are held.

risk score

Potential Long Term Return 8.3%

 

Through a 5 minute quiz covering topics such as portfolio size, top financial goals, and what you are willing to risk for potential gains, we will pinpoint your exact Risk Number.

This technology empowers us to make sure the Risk Number of your portfolio, including all investments, matches your personal Risk Number.

Taking the quiz is easy and can be done in the privacy of your home or office, on a computer or mobile device, at any time. We email you the link and after you have completed the quiz we will see the result. By pinpointing your Risk Number we can analyze your personal portfolio to verify everything is on track.

Call today and request your risk tolerance analysis.

Tags: , , , ,