Meeting with a financial advisor is a crucial step toward ensuring your financial security and achieving your retirement goals. If you’re not already working with one, the idea might seem intimidating, but knowing what to expect can make the process easier and more rewarding. Here’s a guide to help you prepare for your first meeting with a financial advisor and make the most of this valuable relationship.

GETTING TO KNOW YOU Your initial meeting with a financial advisor or wealth manager focuses on understanding your financial situation, goals, and concerns. Financial advisors work with people from all sorts of economic situations, so don’t worry if you think your situation is unique. They’ve seen it all and are there to help you. Be prepared to bring all relevant financial documents, such as bank statements, investment accounts, and tax returns. The more information you provide, the more personalized and effective your financial plan will be. 

NOW IS THE RIGHT TIME It’s never too late to start planning your finances, but the earlier you begin, the better. Early consultations with a financial advisor offer more options, such as determining the optimal age to start collecting Social Security. Even if you feel behind, taking the first step can lead to greater financial security and peace of mind. 

EXPRESSING GOALS AND FEARS Your financial advisor needs to understand your financial and lifestyle goals. Whether you want to travel, downsize your home, or leave an inheritance, be honest about what you hope to achieve. Discussing your concerns, such as running out of money or covering medical expenses, is equally important. Sharing your fears allows your advisor to address them and build a plan that makes you feel secure. 

KEEPING IN CONTACT Meeting with a financial advisor isn’t a one-time event. It’s the beginning of an ongoing relationship. Your financial situation and goals will likely change over time, and it’s important to keep your advisor updated. Many advisors will meet with clients quarterly. Some will meet less often. It all depends on your needs and your plan. Remember that big events, including family changes and real estate transactions, may require some adjustments to your plan. Regular check-ins ensure that your financial strategy stays on track and can be adapted as needed. 

Meeting with a financial advisor is a key step toward achieving security and peace of mind. Whether you’re starting late or just want to ensure you’re on the right track, your advisor is there to help guide you through the process. Not sure how to find the right financial advisor or wealth manager for you? Don’t hesitate to reach out to your Senior Real Estate Specialist® for a referral and start planning for your future now.

-Allison McMillan is a licensed PA Realtor with Keller Williams in Wyomissing and a designated Seniors Real Estate Specialist.  Email: AllisonMcMillan@kw.com