If you’ve been mulling over the decision to work with a wealth advisor, you probably have a number of questions. Perhaps you’ve self-managed your finances to this point. Maybe you’re working with a banker or broker, but don’t feel that your wealth is reaching its maximum potential. Whatever your situation may be, in beginning your search, it’s helpful to consider why working with a fiduciary financial advisor is the right solution for you.

As we’ve lived out our vision to bring wisdom and purpose to wealth, we’ve identified five common reasons people decide that working with an advisor will benefit them. When they step back to assess their expertise, time, interests, patience, and family members’ needs, they conclude it may be time to connect with a professional wealth advisor. If these reasons resonate with you, we welcome the opportunity for a conversation.

#1: Your financial situation has outgrown your expertise.

The most successful investors possess a robust skillset to make informed decisions and effectively manage a portfolio, from fundamental analysis to applying technical expertise, from tax impact to cash flow optimization. Partnering with a firm like ours brings you a team of individuals who have great depth in their areas of expertise, resulting in integrated strategies that are centered on your goals and risk tolerance.

#2: You’re pressed for time.

As your assets grow, your financial picture becomes more complicated, and managing the related details becomes increasingly more time-consuming. No longer can you simply “set-it-and-forget-it,” with a target date fund and call your financial planning complete. If you don’t have time for learning, researching, decision-making, and managing as it relates to your portfolio and your overall financial plan, you will likely appreciate having an advisor work on your behalf to navigate the complexities and nuances of investing for success.

#3: Your genuine interests are elsewhere.

Sustained engagement in the world of investing requires interest and passion. For advisors at CCM, this is a driving force—we enjoy deeply understanding how markets work, analyzing investment opportunities, and staying informed about economic trends.

For optimal success as an investor, it’s important to reflect on whether your interests lie in this area. Then relatedly, determine whether you can sustain the commitment of time and effort for continuous learning, allowing you to make informed decisions and adapt to changing market conditions with confidence, discipline, and agility.

#4: You could use a partner to help manage the emotions that come with investing.

Financial Emotional Intelligence (EQ) is probably the most overlooked and important variable for investors to reflect on when considering whether to self-manage or work with an advisor. Financial EQ is about understanding the feelings that can cloud judgment and lead to irrational decisions. It involves awareness of one’s emotions and the ability to manage stress accordingly. When your personal finances are involved, it can be very, very difficult to maintain objectivity and stick to a long-term plan.

Emotional decision-making can lead to impulsive decisions, applying overconfidence or confirmation bias, following herd mentality, and procrastination. Many clients tell us they appreciate working with an advisor because it is part of our role to act as a sounding board and help them avoid emotionally-driven investment choices.

#5: You want to put your spouse and/or family in good hands.

While some investors who’ve been self-managing their finances feel confident in and pleased with their results, they recognize that their spouse or family members don’t share the same level of skill or interest. Working with us provides you with a team who will surround your family with expertise to ensure that the future has been well-considered and planned for, and that an integrated plan that your family understands has been developed and put into place. These plans reach beyond the present and into your legacy.

A wealth advisor can help you reach your vision

Over our several decades of serving clients, we’ve helped families optimize their wealth so that it can reach its full potential and purpose. For most, this means helping them feel more secure and less anxious about their future, fixing financial problems, and creating financial opportunities.

As you reflect on these themes, remember that the right wealth advisor provides more than just tactical solutions to your financial problems. They help bring wisdom and purpose to your wealth.

If the reasons outlined here are familiar to you, and you’re interested in having a financial partner who can integrate your investment, tax, estate, retirement, risk management, and philanthropic planning, we’d enjoy talking with you.

Carlson Capital Management recommends that individuals consult with a professional advisor familiar with their particular situation for advice concerning specific investment, accounting, tax, and legal matters before taking any action.