How Often Should You Meet With Your Financial Advisor?



Regular meetings with your financial advisor are essential to keep your wealth creation on track, but how often should these meetings take place?

Depending on your income, your career, and how close you are to retirement, you may need to see your financial planner more often. Important events in your financial life may also make it necessary to schedule a financial planning session at short notice – here are some meetings you should schedule with your financial advisor:

The Annual Meeting

A yearly meeting with your financial advisor is the least you should do to keep your budgeting, investments, and taxation issues on track. During this meeting you and your advisor will take stock of the last twelve months, focusing on your income, expenses, and investments. Annual meetings are a great opportunity to reflect on your financial situation and find ways to boost your net worth in the year to come.

After Big Financial Events

Whether you’ve been promoted, changed jobs, or find yourself in a financial situation that’s noticeably better (or worse) than it used to be, you should see your financial advisor as soon as possible. As our financial situations change, our investment strategies and financial goals may also shift.

Your financial advisor will help you to fine-tune your budgeting and may suggest different investment options depending on your new situation. If you find yourself in financial trouble, don’t shy away from your financial advisor – you may just get the help you need to recover from a financial setback.

Larger Investment Portfolios

Clients who have a substantial amount of money in investments should meet with their financial advisors four times a year. During these meetings, the performance of the client’s investments can be discussed, and a good financial advisor will suggest alternatives if the current investments are under-performing.

Because larger investment portfolios are usually diversified – or spread over different types of investments and various shares – it’s important to assess their performance and see whether certain shares should be sold and others bought. If the investment portfolio includes rental property, the rental amount and maintenance costs will need to be assessed to make sure that the property produces a good return on investment.

Whether another year has passed or a big event in your financial life has taken place, your financial advisor should be the first person you consult on money matters. By working honestly and openly with you, your advisor will guide you through the process of wealth creation and help you to build the financial future you deserve.

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