Not Enough People Have Financial Advisors

Approximately 75% of Americans are content managing their money on their own, according to a recent CNBC survey. The decision to forgo professional financial advice could end up being a costly one.

In 2011 HSBC released a study that found that those with financial plans accumulated nearly 250% more retirement savings than those without a financial plan in place. Furthermore, nearly 44% of those who have a financial plan in place save more money each year for retirement.

Financial advisors offer a tremendous amount of value by dealing with extremely complex tax issues, investment choices, and emotional decisions impacting one’s financial well-being. Furthermore, they make people more secure for retirement, increase their client’s wealth, and help people feel more confident about their financial status.

Research by David Blanchett and Paul Kaplan of Morningstar, Alpha, Beta, and Now…Gamma, has attempted to quantify into real numbers the value that financial planners can provide. Their research shows that financial planners help individuals generate roughly 1.82% excess return each year, creating roughly 29% higher retirement income wealth.

Financial planners are not just for the wealthy, there’s a common misconception that you have to have wealth to work with an advisor and that’s not the case. High net worth individuals are still going to have assets at the end of the day; having a financial plan is even more important for your average individual/family. If you’re interested in speaking with an advisor, please send me a direct message, email me at, or call/text (402) 515-3382.

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