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Planning for your financial future can be daunting. Many people wonder if hiring a financial advisor is worth the investment. This comprehensive guide explores the ROI of working with a financial advisor, including case studies, market challenges, and the unique benefits they bring to the table.
What Services Does a Financial Advisor Provide?
Financial advisors offer a wide range of wealth management services. At Blue Bell Wealth Management, these services typically include:
Financial Planning
Creating a comprehensive financial plan that considers all aspects of your financial situation, including estate and retirement planning, college savings, and debt management. You can view one of our case studies about how we help clients plan for their future:
https://bluebellpwm.com/case_studies/maximizing-the-ten-years-leading-to-retirement/
Investment Management
Offering customized portfolios that align with your risk profile. Through our comprehensive three-pronged investing strategy, we aim to build an optimal portfolio for all market scenarios.
Tax Planning
Helping manage your tax liability, advising on strategies to minimize capital gains taxes, maximize tax-efficient investments in retirement accounts, and charitable giving. Read a case study about how we have helped clients with their taxes:
Estate Planning
Carefully planning the distribution of your assets to protect your loved ones, minimize tax burdens, and leave a lasting impact on future generations.
The Quantifiable ROI of Financial Planning
The exact ROI of financial planning includes both tangible and intangible factors. Here, we look at two studies that quantify the return on investment.
Long-Term Wealth Accumulation
The International Longevity Centre-UK conducted a study to understand the long-term effect of financial advice on wealth accumulation. Between 2001 and 2007, individuals who received financial advice accumulated more liquid financial assets and pension wealth by 2012-2014 compared to those who didn’t. Specifically, the advised group had 39% more liquid financial assets and 21% more pension wealth.
Asset Growth Over Time
A study by the Canadian research center CIRANO found that households engaging with financial advisors for 15 years or longer accumulated 290% more assets than those who didn’t consult with financial advisors.
The Intangible ROI of Financial Planning
The “hard-to-quantify” benefits of working with a financial advisor can be equally valuable. A 2019 study by the Certified Financial Planner Board of Standards found that 78% of those surveyed felt it would be beneficial to work with a financial advisor during a recession, compared to only 32% of those managing their finances.
Time and Stress Savings
Financial planning can help clients save time and alleviate stress when managing their finances. At Blue Bell Wealth Management, we build a plan that allows you to live your life without worrying about financial details.
Managing Client Emotions: The Science of Behavioral Finance
Understanding economic conditions and their effect on the investment markets is crucial for positioning clients’ portfolios. An equally important aspect is managing investors’ emotions. Behavioral Finance studies psychological influences and their impact on investor behavior.
Our advisors are well-versed in behavioral finance, recognizing common biases and helping clients avoid common pitfalls.
Common Biases Include:
Connect With One of Our Financial Advisors
We offer free consultations for anyone interested in financial planning. Click here to complete a form, and one of our advisors will be in touch. No cost or obligation.
Access your personal financial planning home page. Your homepage allows you to organize, store, and monitor all your personal financial information, including access to all of your accounts, credit cards, mortgages, insurance, and investments from a wide range of sources.
Access your account information, Blue Bell quarterly reports and commentary as well as Schwab statements and tax documents.
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