Over the course of the last month, our view of personal health and financial markets has taken a dramatic turn. Most of us have realized how much we rely on trusted advisors in these areas to help us know what to do and how to think.
While you may be more aware of your need for trusted advisors during the tough times, it’s in your best interest to seek guidance with health and finances during the good times, as well. Navigating these two things by yourself is possible, but listening to what experts think about questions like, “Is this wise?” and “Is this healthy?” is always a good thing.
For help with your finances, consider hiring a “General Manager.” For those of you unfamiliar with the professional sports world, a General Manager (GM) is the person who typically coordinates all aspects of the on-field experience on behalf of the owner, from hiring the coach, to managing the scouts, to making the right trades.
Do you have someone who can help you with estate planning? Do you need a good CPA for your taxes? Who can help you know what types and how much insurance to get? Choosing these people can be an overwhelming process, made more difficult by not knowing where to turn to find the right advisors. Enter your Financial GM! Your Financial GM can help coordinate the work of your other advisors so that everyone works in concert to help pursue your goals.
Whenever you are seeking a Financial GM or evaluating your current Financial GM, here are a few questions you should consider asking yourself.
Is my Financial GM a Fiduciary? Does my advisor(s) actually have my best interests in mind? You want your General Manager to “sit on the same side of the table as you” and understand your goals and objectives in order to better help you make solid dollar sign decisions.
Do I understand the total cost or fees that are associated with my Financial GM? Often, investors are confused or even uninformed of the total cost or fees associated with the advice they’re getting and the management of their portfolios.
In addition to coordinating the work of your other advisors as your Financial GM, we here at Foster Group help create your investment plan based on market principles, informed by financial science, and tailored to your specific needs and goals. Along the way, we can help you focus on actions that add investment value, such as managing expenses and portfolio turnover while maintaining broad market and asset diversification. Equally important, we can provide knowledge and encouragement to help you stay disciplined through various market conditions.
What does it mean to be Truly Cared For®? At Foster Group, it means we understand your passions and use proven methods to help you pursue your goals. Hopefully, the information above will help to frame up how you should think about assembling or re-assembling your team. If you have any questions or would like a second opinion while pursuing your goals, please contact us.