A lot of people get bookkeeping and financial advising mixed up. Here at JHA, we don’t advise you on how to make more money, we count and organize the money you already have. The art and science of investing is actually done by financial advisors.
With a financial advisor, you can build a stock portfolio, discuss financial instruments like annuities, etc., and plan for retirement. There are a lot of different types of financial advisors, but you’ll want to get one that is a fiduciary, and also “fee-only.”
- Fiduciary: A professional who puts their client’s interest ahead of their own. In other words, they will provide you options instead of selling only one company’s products.
- Fee-only: A fee-only structure is when the client pays the professional for their services directly, and there is no commission.
There are many different paths to becoming a financial advisor. Certified Financial Planners go through rigorous training (I’ve heard about the curriculum) before attaining their degrees, which is one of the reasons I enjoy working with them. Like us here at JHA, CFPs are fiduciaries and can work seamlessly with your Trusts and Estates team and/or your Matrimonial team.
Wealth advisors are another type of professional that can perform much of the same things as a CFP. As the name suggests, they cater to high-net worth individuals.
Broker-dealers can help you set up a stock portfolio, and act on your behalf in the buying and selling of stocks.
Finally, there are financial coaches like me. Coaches use interdisciplinary approaches to get the client’s financial house humming like a successful small business. The approach I use looks inward at the childhood “reruns” playing in our minds that shaped our relationship with money. Since I know a thing or two about organization and spending plans, I’m able to provide a holistic coaching experience!
For more information about financial advisers or coaching, contact us. We also have great referrals — that’s kind of our thing.