Top 5 Ways a Financial Advisor Can Help You #PlanYourTomorrow

by Sound Choices, AGF Management Ltd.

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Insights and Market Perspectives

Author: Sound Choices

October 6, 2020


October 7 is World Financial Planning Day (#WFPD). WFPD is a part of World Investor Week (WIW), which takes place October 5-9 and raises awareness about the importance of investor education and protection.

Today there’s no shortage of information available about the markets and plenty of people ready to share their opinions with you.

So how do you begin to make sense of it all, figure out what to do with your money and put your personal financial plan into action?

Just as you would seek professional help with your health, consulting a professional can make all the difference.

Investors who work with a financial advisor have on average 3.9 times more assets after 15 years than those who go it alone.

Source: Montmarquette, C., & Viennot-Briot, N. (2016). The Gamma Factor and the Value of Financial Advice. CIRANO.

A financial advisor can play an important role in your investment future. Through every life-stage and during specific events, he or she can help you define your goals and stick to your plan, providing customized advice for your personal situation. Financial advisors can also answer your questions and teach you about different concepts and best practices.

A financial advisor can help you:

1. Put together a financial plan

Your advisor can help create a thorough plan that outlines the necessary steps to ensure you have enough money for your individual goals including retirement or a child’s education, as well as large purchases such as a house, car, cottage or wedding. They will also help you revisit your investments if your goals, priorities and circumstances change.

2. Choose investments that align with your goals

A financial advisor will help you to make sense of the thousands of financial products available, choosing those that align with your personal goals. They can also help you to focus on reducing debts and saving for the future.

3. Learn about investing concepts and best practices

Working with a financial advisor will give you an opportunity to learn investing concepts and best practices. Financial advisors have the expertise to help you understand current market events and how they may impact your investments. He or she can answer your questions and ensure you understand every step of the process.

4. Stay disciplined, monitor your portfolio and make changes as necessary

An advisor will consistently monitor your investments and your progress towards your goals. If markets rise dramatically or if a certain segment of the market significantly weakens, your advisor has the expertise to understand what has taken place, what the outlook is, whether your portfolio needs to be repositioned and how to make those adjustments. Also, if your portfolio should stay the course, he or she can help you stay disciplined in the face of market uncertainty.

5. Know when other experts are needed

Financial advisors can be your key point of contact and refer you to other experts when needed. He or she can not only guide you when to consult tax planners and accountants but also help you to navigate estate responsibilities.

Don’t have a financial advisor? Before you start your search, read about what to consider when choosing a financial advisor.

The commentaries contained herein are provided as a general source of information and should not be considered personal investment or tax advice. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change investment decisions arising from the use or reliance on the information contained here.
The contents of this Web site are provided for informational and educational purposes, and are not intended to provide specific individual advice including, without limitation, investment, financial, legal, accounting or tax. Please consult with your own professional advisor on your particular circumstances.
AGF Management Limited (“AGF”), a Canadian reporting issuer, is an independent firm composed of wholly owned globally diverse asset management firms. AGF’s investment management subsidiaries include AGF Investments Inc. (“AGFI”), AGF Investments America Inc. (“AGFA”), Highstreet Asset Management Inc. (“Highstreet”), AGF Investments LLC (formerly FFCM LLC) (“AGFUS”), AGF International Advisors Company Limited (“AGFIA”), AGF Asset Management (Asia) Limited (“AGF AM Asia”), Doherty & Associates Ltd. (“Doherty”) and Cypress Capital Management Ltd. (“CCM”). AGFI, Highstreet, Doherty and Cypress are registered as portfolio managers across various Canadian securities commissions, in addition to other Canadian registrations. AGFA and AGFUS are U.S. registered investment advisers. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. AGF AM Asia is registered as a portfolio manager in Singapore. AGF investment management subsidiaries manage a variety of mandates composed of equity, fixed income and balanced assets.
TM The “AGF” logo and ® “Sound Choices” are registered trademarks of AGF Management Limited and used under licence.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.

For further information, please visit

© 2020 AGF Management Limited. All rights reserved.

This post was first published at the AGF Perspectives Blog.

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