Your finances are extremely personal. Once you are comfortable with your financial advisor, it can be difficult to consider looking elsewhere — even if you’re not receiving the feedback that you feel is necessary during uncertain times. Managing through adversity can look different for everyone and supporting a large portfolio during a financial downturn is quite different than the activities and strategies your advisor is accustomed to putting forth when the economy is steady. It’s at times like this that you owe it to your business to gain access to the best possible recommendations to maintain and even grow your wealth during an economic downturn. Having that second opinion may confirm exactly what your current financial advisor is recommending… or it might just open your eyes to a hidden possibility that you didn’t expect.
The Importance of an Investment Portfolio Second Opinion
Scheduling a routine checkup with healthcare specialists isn’t unusual and getting a second opinion from a financial professional should be viewed in the same way. It’s vital to your long-term financial health and well-being to validate that you’re taking advantage of all opportunities to safeguard your business or personal portfolio, particularly in times of economic uncertainty. If you already have a roadmap in place to assure your goals are met over time, work with a financial advisor or wealth planner to fine-tune your current path and results. Every investment professional has slightly different strategies that they can leverage, and a portfolio review is an excellent opportunity to ensure that the steps you’re currently taking are in alignment with your goals.
Gaining Confidence and Peace of Mind
There is a great deal of trust needed to work with financial planners on your wealth strategies. Gaining access to a second opinion on your current goals and tactics provides you with an added level of confidence in your primary financial advisor. It can give you peace of mind that you’re doing everything possible to maximize your investments and meet your personal and professional goals and objectives. The economy changes over time and your wealth management strategies and portfolio should, too.
Do I Need a Second Opinion?
Even if you are completely confident and trusting in your current financial advisor, it might still be in your best interest to take the step of gaining an expert appraisal of your readiness. The questions below will help you determine whether a second opinion would add value for you:
- Am I confident that my portfolio is optimized for tax efficiency?
- Am I getting the quick and complete responses to questions about my portfolio or changes in the economy?
- Are my asset allocations fully balanced?
- Do I know exactly how much I’m paying for my current financial services?
- Has it been several months since I’ve reviewed my current investment strategies in light of changes to the global economy?
- Are there more steps to be taken to reduce my overall tax burden?
If you have any questions about your financial future or that of your business, you owe it to yourself to ensure you have solid advice from a range of trusted professionals.
What to Expect from a Second Opinion Service
From discovery to execution, a full-service financial planning partnership is detailed and represents an ongoing relationship. With a second opinion service, you can expect simply that: a measured and thoughtful opinion from another wealth management professional to help determine if there are changes needed to keep you on track to meet your long-term goals and objectives. In the best-case scenario, the outcome of your second opinion conversations should be a confirmation that your strategies are on par with your values and goals. If not, your second opinion service provider may offer recommendations on how best to optimize your wealth over time — still staying within the parameters set by each client. Sometimes, you’ll find that the second opinion service uncovers some additional tasks that need to be completed or opportunities. In this case, you may determine to supplement the current services you’re receiving from your financial advisor or wealth management partner.
Finding a trusted second opinion provider can feel overwhelming, which is why the team at Penta Wealth Management only provides this valuable service to friends and family members of our current clients. We care deeply about our clients and want to know that they and their loved ones are being fully supported to reach their financial goals for the future. This referral-based service also provides the peace of mind knowing that the wealth management experts at Penta are already helping individuals in your close network. Contact the team at Penta Wealth Management at 888-447-3682 or via email to info@pentawm.com to schedule your complimentary second opinion review today.
