Does Someone You Know Need a Financial Second Opinion?

You don’t have to be neck-deep in the financial field to know that the markets have been at all- time-high levels recently. Did you know that since the November 2016 election, we’ve had over 50 record-high market closes? Many investors are enjoying significant gains. As a result, even the most wary investors may start to feel pretty comfortable.

Many economists expect continued growth, but it’s important to remember two things.  First, markets can shift quickly, so it’s imperative to have safeguards in place to help protect your savings from inevitable future downturns. Second, as you near retirement, it’s time to reevaluate your strategy to make sure your financial plan is in line with your retirement goals.

If you haven’t addressed these two points, a financial second opinion could make a world of difference. Does this sound like you or anyone you know?

A Check-Up For Your Finances

You can think of a second opinion as a financial check-up, just like an annual physical or eye exam you’d get from your doctor. When I meet with your friend or family member, I’ll take the time to get to know them and become familiar with their unique financial situation. I’ll ask them to outline their financial goals and review their current plan, 401(k), investment portfolio, insurance policies, and more. This allows me to determine where they stand and where they want to be so that we are on the same page with their objectives.

I’ll also answer any questions they may have about the market, strategies, or basic financial tips and principles. Then, I can apply their concerns, ideas, and aims to their current plan to see how everything lines up.

The Benefits of a Financial Check-Up

Once I have a thorough overview of their finances, we can work together to reevaluate and readjust. If I think their investments, insurance, etc. continue to be well suited to their long-term goals despite the market turmoil, I’ll gladly tell them so and send them on their way.

If on the other hand, I think their plan no longer fits their goals, I’ll explain why in a way they can understand. And if they’d like, I’ll recommend some alternatives. It may be that minor adjustments are needed based on their age, current economic woes, or a change in priorities and plans. As someone who recognizes the need for unique and specialized services for investors at the time of retirement, I strive to develop strategies to protect our clients’ hard-earned life savings and give them peace of mind as they enter retirement.

It never hurts to take a second look at their financial plan to ensure that it is up-to-date, still applicable to all aspects of their life, and ideally suited to achieve their long-term dreams. Regardless of the outcome of our second look, I hope they will have full confidence in me, their decisions, and their financial plan.

Do You Know Someone Who Needs This?

Many of our clients are referrals other clients have made. Over the years, we’ve built strong and long-lasting relationships with our clients who not only trust us to manage their money, but also trust us enough to refer their loved ones. We think the highest compliment you can give us is to let someone else know about your exceptional experience working with Prostatis. We value our clients and want to take the time to get to know each individual we work with on a personal level.

If you know someone who would benefit from a financial second opinion, send them our way and let us help them evaluate where they are now, determine where they would like to go, and address any gaps that may be apparent. Or, if you think you yourself would gain from a financial check-up, call us at (410) 863-1040 for a complimentary consultation.

Securities offered through TCM Securities, Inc., Member FINRA/SIPC.
Prostatis Group LLC is a registered investment adviser.

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