More than Finances: The Benefits of Holistic Advice from Financial Professionals

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Many people take a holistic approach when it comes to our physical health. We consider how we can practice being healthy in general, such as eating a well-balanced diet and getting enough exercise. Keeping our bodies in good shape improves our overall quality of life. So, why don't we apply this philosophy to all aspects of our lives, including our financial well-being?

Holistic financial planning is quickly rising in the ranks of money management techniques among financial professionals. But, when it comes to your financial health, what does it mean to be holistic? What you should know is as follows.

Putting Your Goals in Perspective

Many financial experts will advise you on specific products, services, or investments. They might suggest investing in an IRA or assisting you in setting up a 529 college savings plan for your child. Financial advisors who provide holistic advice, on the other hand, will prioritize your life goals. Rather than guiding you toward optimal investment portfolios, they assist you in achieving your specific objectives.

Your financial health doesn't exist in isolation, nor should your financial planning. Rather than plugging numbers into an algorithm to determine how much you should save for retirement, you should focus on holistic planning, which takes your goals and aspirations into account.

"What do you want to accomplish between now and retirement?" a holistic financial planner might ask. "How do you want your life to be when you retire?" and "How do you want your life to be?" Everything you do impacts your financial well-being, which is why it's critical to think about all aspects of your life when making investment and savings decisions.

Keeping Your Values in Mind

Another advantage of holistic financial planning is that it can be tailored to your personal values. Traditional financial planning focuses on your portfolio's best outcomes. However, the best results may necessitate investing in companies whose mission and values differ from yours.

You can choose to invest ethically with holistic financial planning; for example, you may decide to invest only in socially responsible companies or companies owned by women of color. A financial advisor specializing in holistic planning can assist you in investing in companies that share your values while also aiming for financial success.

Creating a Working Relationship with Your Financial Advisor

Above all, holistic financial planning can lead to a stronger, more trusting relationship between you and your financial advisor. Because they're involved in so many aspects of your life and goals. They know how to assist you when you're going through a complex and confusing financial situation like divorce, a job loss, a critical illness, or even just buying a new home.

When it comes to managing your financial health, a trusted professional can help you. A holistic financial professional can assist you in achieving your goals while also aligning with your values and taking into account major life events.

We know the importance of having personalized attention. That is why we prioritize quality over quantity.
If you want us to review your financial plan to see what areas need improvement, feel free to call us.


*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither the information presented nor any opinion expressed constitutes a representation by us of a specific investment or the purchase or sale of any securities. Asset allocation and diversification do not ensure a profit or protect against loss in declining markets. This material was developed and produced by Advisor Websites to provide information on a topic that may be of interest. Copyright 2022 Advisor Websites.