Holidays, birthdays, anniversaries – there are so many dates on the calendar to keep track of, and all of them are important and most of them are needed. One date you may have set up every year is your meeting with your financial advisor.
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But when should this happen between January and December? There are 365 days to do it, but here are the best time a year to meet your financial advisor.
Do you have a question or concern about your personal finances? Do not delay it later. Instead, find out the date that works for you and put it in your schedule.
“I think the best answer, assuming this is an unplanned meeting, it would be to meet as soon as you think about something,” says Josh Kaplan, a financial advisor at Armstrong, Fleming & Moore, Inc.
“If this is information that the advisor should know, then it is better to update them earlier than later so that they can adjust all the plans that have been in force for you.”
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If you have a constant need to meet your financial advisor, it is best to take care of him earlier during the year, not later. Quarter 1, or Q1, is a great time to set up some current meetings to make sure you are ready for the rest of the year. Q1 goes from January 1 to March 31.
“For more regularly planned meetings, it depends on how your meetings are structured with your advisor,” Kaplan explained. “I would still prefer to meet earlier during the year because it allows me to plan better for you, you may mention a new interest in charity, which we did not know about before -having this information earlier during the year allows me to make better decisions with you throughout the year.”
Checking your financial advisor in the middle of the year is a great idea to make sure you are on your way with your goals, your budget is working for you and that unexpected emergencies have not arisen, or if they have, you can mitigate the damage together.
“The examination in the middle of the year allows the individual the opportunity to evaluate their financial situation with the advancement of the year and to make all the necessary changes, if necessary, to align themselves with goals and priorities,” said John Jones, a representative of the investment adviser at Heritage Financial.
Kaplan pointed out that, as with any work, of course there are more busy times of the year than others. You may not be able to schedule an appointment with your financial advisor at the beginning or midway during the year, but do not release 12 months without registering with them.