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Go green🌱 (Planting a plant on world environment day)

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Getting award for, best student of the year🎓!

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Why working with a financial advisor makes sense - now more than ever

With the growing popularity of robo advisors in recent years, you may wonder if working with a financial advisor is still worthwhile. After all, especially for younger investors, robo advisors offer an affordable, hands-off investment approach, with lower account minimums.

While robo advisors can be a useful service, they take a one-size-fits-all approach. And while that may work for many investors, it doesn't work for all.

As you get older and your portfolio becomes more complex, the holistic advice that only a financial advisor can provide is invaluable in helping you reach your financial goals.

Adding value with financial advice

Here are 6 specific ways in which working with a Richardson Wealth Advisor can add value by helping to minimize your financial stress and maximize your net worth.

1. Holistic financial planning.

A holistic plan goes far beyond just the numbers; it's a goal-driven approach that covers every aspect of your financial life. Your advisor starts with identifying your key financial objectives - saving for a downpayment, funding your children's education, or planning for retirement, for example. They'll also consider your values, goals and experiences with money, balancing your needs with potential risks and what's happening in the markets so you can grow and protect your savings.

2. The right product advice.

Once your financial plan is in place, you'll need to decide how to invest your money. Consider your investment objectives, your time horizon and how much risk you can accept. Your advisor will work with you to find the right products to invest in, balancing what life stage you're in with how the markets are doing.

3. A solid retirement plan.

The key question to answer is 'when'. Your advisor will help you figure that out, and create a plan to get there. We'll match your sources of income with estimated expenses, allowing us to circle milestone dates, so you stay on track.

4. Leaving a legacy.

You want the wealth you leave behind to go to the people and causes you love. An advisor will help ensure you transfer your wealth and legacy efficiently, considering tax implications and maximizing your gifts to heirs. Backed by our team of tax and estate specialists, we can also help you develop a detailed estate plan - that can include determining the best approach for your will and choosing an executor - which you can take to your legal professionals.

5. Minimizing tax.

Minimizing your tax liability is a crucial part of an overall wealth plan. After all, taxes can have a significant impact on return. With help from our tax and estate experts, we'll design a tax structure that allows you to keep more of what you earn and maximize your investment growth.

6. Targeted advice for business owners.

As a business owner, you have unique financial challenges. We'll help find the ideal structure for your business, develop wealth and succession plans, manage cash flows, and credit proof your wealth. Our team of professionals will create a wealth plan that looks at your entire financial picture and provides simplicity - so you can focus on what you do best.

Ready to create a financial plan that fits your goals?

With our advisors, you'll get a unique strategy tailored to you, built in your best interest. We're not part of a huge institution with separate agendas and products to sell. Our advisors only have one goal: to help you create, protect and pass on your wealth.

Let's talk. Get in touch with us today.

Money and stress

In challenging times and during volatile markets, collaborating with a financial advisor makes even more sense. A 2022 survey indicated that the pandemic increased financial stress for 58% of Canadians, yet that percentage is lower among those who work with a financial professional.

When times are tough, an advisor's historical perspective and unbiased guidance can help you avoid making emotional decisions that may not be in your best interest. And, by creating a long-term strategy aligned with your goals, risk tolerance and time horizon, your advisor can help you minimize loss during a market downturn.

Nearly 4 in 10 Canadians say money causes the most stress in their lives

65% of Canadians are not benefitting from the advice of a wealth manager

Investors who work with financial advisors have nearly 3x the net worth and 4x the investable assets of those who do not

Make sure your prospective advisor is the right fit

One of the best ways to find an advisor is through referrals from friends, family or colleagues, but you should still do your own research and find the best fit for your unique situation.

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The value of financial advice - Richardson Wealth

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As your portfolio becomes more complex, the holistic advice that only a financial advisor can provide is invaluable in helping you reach your financial goals.

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As your understanding of the digital landscape becomes more vivid, so does your ability to command it. Make agile decisions faster by leveraging o mnichannel spend, placement and creative detail that spans the fullest digital spectrum including Online Display, Online Video, Mobile, Desktop, Paid Search, Paid Social, Youtube, Streaming and Linear.

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In the Dallas airport the other day I saw many tall, well-dressed, and impressive-looking men wearing large, immaculate Stetson cowboy hats. As I walked by one such hat-wearer, I noticed two middle-aged, sunburned men in faded blue jeans standing nearby. They eyed the same fellow, looked him up and down, and then one said quietly to the other, "Big hat, no cattle."

A version of this article appeared in the September 1981 issue of Harvard Business Review.

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In the Dallas airport the other day I saw many tall, well-dressed, and impressive-looking men wearing large, immaculate Stetson cowboy hats. As I walked by one such hat-wearer, I noticed two middle-aged, sunburned men in faded blue jeans standing nearby. They eyed the same fellow, looked him up and down, and then one said quietly [...]