Confident Wealth

The Value of Working with an Advisor Ep. 1: Building a Roadmap

In this episode of the Confident Wealth Podcast, the Bush Brothers talk about the value of a financial advisor. The starting place for any relationship with an advisor is to sit down and create a roadmap of your financial goals - past, present, and future. From there, the financial advisor serves as your thought partner, mirror, and accountability partner. There is a lot of value that can be captured from having a relationship with a financial advisor.

Show Notes:

  • 1:28 - How people can get value out of their financial advisors
  • 2:00 - Managing the relationship with your financial advisor
  • 2:20 - Financial advisors build your financial roadmap for you
  • 6:14 - The importance of writing down the roadmap
  • 7:00 - The financial advisor also serves as a coach - a mirror for their client
  • 10:00 - Financial advisor also helps manage emotions - fear of loss is twice as strong as the excitement of the game
  • 12:34 - The unique, defined planning process of Horizon
  • 13:39 - Taking your plans out of your head and onto paper helps to figure the little things out and take care of them immediately
  • 15:15 - The financial advisor is your thinking partner and mirror

3 Key Points:

  1. One of the main roles of a financial advisor is to create a roadmap with you, allow you to share your goals, and be your thought partner.
  2. Financial advisors manage your emotions while helping you achieve your goals.
  3. At the end of the day, your financial advisor is a person you can count on to hold you accountable and tell you where you need to improve financially.

Tweetable Quotes:

  • -    “It could be eye opening for folks that have never had that type of relationship or engagement. Many folks might think of it as well, you know, advisor kind of looks over investments and that kind of thing. But really, it's a hopefully a long lasting relationship that has many levels in many ways to bring value.” – Bill
  • - “At some point, you stop, and you go, Okay, I have all these things, I have some assets have all this stuff. But what does it mean? Like, you know, how can I turn it into income, or what is my plan, so to speak. So I think the very first thing that we can do, again, any journey you go on, obviously got to know where you're starting from. So not just taking an assessment of where you are now. But really defining where is it what you want to go and then laying out that building that roadmap so to speak.” – Pete
  • - “Because a coach can do something that no other human can do for themselves, which is hold up the mirror and go, Hey, look at that. See that right there? Yeah, that's what I see. Now, you're in your own head, you're in your own body, you're living in your own financial life, you may not be able to see outside of that.” –Pete

Resources Mentioned: