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What to Expect When You Meet with a Financial Advisor

What to Expect When You Meet with a Financial Advisor - TaxAct Blog

Whether you’re struggling to reach your financial goals or have a good start toward wealth prosperity, meeting with a financial advisor is a great way to determine a long term money strategy for you.

But, if you’ve never talked with a financial advisor, there’s a chance you’re a little apprehensive about the experience.

While the nature of every meeting is unique, the basics of the conversation are often the same. Here’s an idea of what to expect when you sit down to chat with a financial advisor.

Prepare to get financially naked.

During the first meeting with your financial advisor, expect a thorough assessment of your current financial situation. They’ll ask a number of questions to get a better understanding of your life – money, family and personal goals included.

Don’t be afraid disclose information about your assets, such as cash flow and investments. Additionally, be open about any debt you may have accumulated. This in-depth conversation is critical as it lets your advisor know where you currently sit from a financial perspective.

While discussing your private information can be uncomfortable at first, this dialogue sets the course for developing an appropriate financial plan for you. Get money naked and be honest about your financial world.

Be ready to establish goals.

After you open up about your current finances, the next step is to discuss your money goals.  This is where your advisor will ask specific questions, like:

  • at what age would you like to retire?
  • do you want to buy a house?
  • how important is it to pay off debt?
  • are you saving for any other big expenses?

The answers to these questions will help your advisor understand your money values and priorities. They will guide the basis of your savings and investment strategy. Based on your feedback, your advisor can develop a plan and set specific benchmarks to help address those goals.

Expect to create a plan.

By the end of the meeting, your advisor should have a clear view of your current financial picture. That includes where you hope to be someday and an idea of how you can get there.

While you likely won’t leave the meeting with a new investment portfolio, you should have a personalized outline designed to help you address your goals. This plan should give you new insights into your financial future, including how much you want to save each month, where you want it invested and why.

Keep in mind, planning for your future is a dynamic, ongoing process. This plan is not etched in stone. As your priorities shift, your advisor will help adjust your strategy accordingly.

A different financial advisor to consider.

Working with a financial advisor can give you peace of mind that you have a well thought out strategy when it comes to your hard-earned money. However, when you think about your complete financial picture – does it only include your cash flow, debt management and investments?

Independent, broker-dealer firms, like HD Vest Investment ServicesSM, believe it’s much broader than that.

At HD Vest, advisors have reinvented the way financial services are delivered. They’ve introduced a comprehensive approach to total wealth management, which includes putting emphasis on the important tax implications that come along with your financial decisions.

Think about it this way – every dollar you make or spend may be affected by taxes at some point. From income and sales tax to investment tax breaks, understanding the pages of tax rules is often a difficult task.

That’s why having an advisor who understands the implications of taxes from an investment perspective is an essential component to creating a plan that truly considers all aspects of your finances. It’s just one more way you can work on your strategy to address your goals.


The HD Vest affiliated companies exclusively provide financial products and services, and do not provide or supervise tax or accounting services. Advisors may provide tax, accounting or other services through their independent outside businesses, but these services are separate and apart from HD Vest.

Securities offered through HD Vest Investment ServicesSM, Member SIPC  Advisory services offered through HD Vest Advisory ServicesSM (HDVAS) 6333 N. State Hwy 161, 4th Floor, Irving, TX 75038 (972) 870-6000

HDVAS and TaxAct, Inc. are wholly owned subsidiaries of Blucora, Inc. (NASDAQ: BCOR)

Investments are subject to market risks including the potential loss of principal invested.