Are you nearing retirement age and want to protect your assets? Perhaps you’re just starting a family and want to put some money aside to ensure they’re protected from financial burdens. Either way, financial advice can help make sure all of your future needs are met. But what exactly is financial advice and how can it help you?
As one of today’s leading insurance providers and financial management advisors, the team from Desjardins Financial Security Independent Network (DFSIN Toronto West) has helped many clients protect their assets. Here’s what you need to know about financial planning & management.
What is Financial Advice?
In the simplest of terms, financial advice refer to the management of all a person’s wealth and assets through wise financial planning and investment solutions. The goal of a financial advisor is to not only protect their client’s assets but also help them grow. It’s their duty to always act in the financial best interests of their client no matter what.
Financial advisors accomplish their clients’ goals by developing sound long-term investment strategies guaranteed to get results. They provide personalized plans tailored to each client’s unique financial situation and objectives.
Why is Professional Financial Advice Important?
Professional Financial Advice is important because it provides added oversight to financial investments. We’ve all heard the term “buyer’s remorse”. Well, working with a professional financial advisor is one of the ways you can avoid that feeling. When it comes to making financial decisions that can likely impact the rest of your life, like purchasing a home or starting a business, having an experienced expert to help you analyze the situation is a must.
These professionals can help ensure you make wise decisions because unwise decisions could lead to you losing money, potentially affecting your financial situation for years, if not decades to come. It’s your financial advisor’s full-time job to help you make sound investments.
The Benefits of Financial Advice
Protecting Your Assets
One of the primary benefits of financial advice is asset protection. Advisors help you navigate the complexities of the financial world, ensuring that your wealth is safeguarded against risks such as market volatility, inflation, and unforeseen personal circumstances.
Growing Your Wealth
Beyond protecting your assets, financial advisors focus on growth. Through strategic investments and financial planning, they work to increase your wealth over time, ensuring you can achieve your long-term financial goals.
Personalized Financial Planning
Each individual’s financial situation is unique. A professional financial advisor provides personalized plans that cater to your specific needs, whether it’s saving for retirement, funding your children’s education, or planning for a major purchase.
Financial Advice vs. Asset Management
Before we go, it’s important to underline that although the two terms might seem similar, there’s a clear difference between financial advice and asset management. The former is based upon a fiduciary duty to do what’s best for a client under any circumstance; the latter is primarily concerned with maximizing the value of the assets under their management without necessarily taking into account the fees and charges associated with the investments they recommend.
With a licensed advisor from DFSIN, it is our fiduciary duty to do what’s best for our clients under any circumstances.
Financial Advice for Different Life Stages
Starting a Family
When starting a family, financial planning becomes crucial. Advisors can help you set up savings plans for future expenses such as education, housing, and healthcare, ensuring financial stability for your growing family.
Nearing Retirement
For those nearing retirement, financial advice is essential to secure a comfortable and worry-free retirement. Advisors assist in creating retirement plans that maximize your savings and investments, providing you with a stable income during your retirement years.
Business Owners
Business owners have unique financial needs. Financial advisors can offer specialized advice on business investments, succession planning, and risk management, ensuring your business thrives, and your personal finances are secure.
Financial Advice in Toronto
Finding the right financial advice is critical for Toronto residents. The team at Desjardins Financial Security Independent Network (DFSIN Toronto West) offers expert guidance tailored to Canadians’ specific needs. Whether you’re looking for help with investment strategies, retirement planning, or risk management, we provide financial advice you can trust.
Contact DFSIN today to learn more about financial planning & management!
Are you interested in learning more about financial planning and life insurance plans? If so, the team from Desjardins Financial Security Independent Network would love to hear from you. Contact us online today or call (416) 695-1433.
