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The Benefits Of Partnering With A Financial Advisor

In today's complex financial landscape, managing personal finances can be overwhelming. With numerous investment options and financial decisions to make, navigating these waters alone is a challenging feat. This is where Able Wealth Management can provide valuable guidance and support.

Increased Investment Returns

According to a Vanguard study, individuals who work with a financial advisor can experience up to 3% in net returns compared to those who do not (Vanguard, 2019). Partnering with a financial advisor can result in higher investment returns over time. Moreover, a financial advisor can help individuals make better investment decisions, set appropriate asset allocations, and avoid behavioral mistakes that can negatively impact returns.

Boosted Financial Confidence and Well-being

However, the value of a financial advisor extends beyond monetary returns. In a Financial Planning Association study, individuals who work with a financial advisor are more likely to feel confident about their financial future and report higher levels of financial well-being (Financial Planning Association, 2019). A financial advisor can guide you in making crucial financial decisions and creating a tailored financial plan that includes advice on budgeting, savings, investments, and retirement planning. Additionally, a financial advisor can offer emotional support during times of financial stress and uncertainty.

Tax and Fee Minimization

Furthermore, working with a financial advisor can help individuals minimize taxes and fees, saving significant money over time. A financial advisor can provide expert analysis and insight into the current financial market, potentially leading to higher investment returns. They can also advise on tax-efficient investment strategies and help individuals avoid unnecessary fees.

Financial Security: A Compelling Factor

According to a Northwestern Mutual survey, 70% of Americans who work with a financial advisor feel financially secure, compared to only 30% of those who do not work with an advisor (Northwestern Mutual, 2019). This underscores the importance of partnering with a financial advisor to gain the confidence and knowledge needed to make informed financial decisions and achieve long-term goals.

The data suggests that partnering with a financial advisor can provide qualitative and quantitative value for individuals seeking to manage their finances and achieve their financial goals. From higher investment returns to emotional support and financial well-being, a financial advisor can help individuals navigate the complex world of personal finance and achieve a secure financial future.

References: 
Financial Planning Association. (2019). The financial planning profession and the future of financial advice: Key trends and insights. 
Northwestern Mutual. (2019). Planning & Progress Study 2019: Four insights for a stronger financial future. 
Vanguard. (July, 2021). Putting a value on your value: Quantifying Vanguard Advisor’s Alpha.