The definition of collaborate is to work jointly with others, or together, especially in an intellectual endeavor. Why is the topic of collaborating with your advisor so important? When starting the process of hiring a financial advisor, you have decided you need an outside perspective to help manage your financial freedom. Hiring an advisor is about trusting that they are who you want to collaborate with for all financial aspects of your life, ahead of time. We see more often than not people coming to us once a big decision has been made and then we are left to pick up the pieces. Your advisor is not just a bite of the financial pie, they are a piece of the whole pie. From all things financial, to legacy planning, buying your first born a car and so much more they are here to help answer all the questions and navigate you through the big decision.
If there is a decision like making a big purchase (i.e. a car or home), starting a college plan, paying off debt etc. then you should contact your advisor. Since your advisor is there to look at the big picture it is important to keep them in the know of any financial or life changes. They are there to give you an outside look as to how adding or subtracting pieces of your pie can affect your long-term plan/goal. They can crunch numbers for you and might even be able to help offer another solution. The last thing we want is to ruin the chance of you being able to make your big purchase, but we want to help you make the right decision.
Making decisions without thinking five steps ahead can be detrimental to your future and your retirement. It can be tempting to pay off debts if you see an influx of cash or the salesperson offered a great deal you couldn't pass up but just give your advisor a call so they can do some double checking. Maybe we can help you determine if the payoff will benefit you in the long run or only save you a year in payments. We have a plethora of resources that are here for you to use. We are here to do the hard work of running the numbers, so let us do that so that you have the ease of mind when making your purchases.
Collaborating is one of the biggest parts of your relationship with an advisor. Remember we are here to help you achieve YOUR dreams and goals, not ours. It is imperative that you communicate changes and decisions with us so we can adapt and adjust your plan as needed.
56 Capital Partners Team