Broker Check

Are You on the Road to Financial Wellness?

It's never too late to start. In this ebook, we outline effective financial strategies for every stage of the journey.

Thank you! Oops!
How Do I Know When I Should Hire a Financial Planner?

How Do I Know When I Should Hire a Financial Planner?

April 23, 2024

Importance of Financial Planning

I often tell folks that financial planners are like dentists. Everybody needs one. And most everybody should see one more often than they do. Some people don’t go to the dentist until the pain is unbearable and it’s a crisis. Some folks treat financial planners the same way.

If you think maybe you are due for a financial “teeth cleaning,” I would love to meet you. I’m a fiduciary financial planner, I love helping people and I’m always happy to meet somebody new. Just follow this LINK to find a time that works for you.

Benefits of Working with a Financial Planner

If you are still not sure if it makes sense for you to talk with a financial planner, you might be interested in a recent survey done by Herbers & Company, a management consulting firm. The study found that people who work with financial planners are three times happier than those who don’t.

The study identified four factors that make people happier: fulfillment, intention, impact, and gratefulness. The study showed that of the respondents who worked with a financial planner, 66% reported in increase in all four of these factors.

Bar chart titled Happiness Increases for People Who Hire Financial Advisors - Benefits of Working with a Financial Planner

The study also showed that working with a financial planner increased happiness in personal relationships and their communications with their partners. It might be a bit surprising, but it’s a very common experience with my clients. Many times, clients comment to me about how happy it makes them to be able to discuss financial goals and priorities as a couple with me. Often, I act as a neutral sounding board for both partners. Having me in the conversation seems to make it easier for everybody. Both partners feel heard and they can better hear alternative perspectives.

 Bar chart titled Hiring a financial advisor increases relationship satisfaction and communication - Benefits of Working with a Financial Planner

Enhancing Personal Relationships Through Financial Planning

And the study seems to illustrate the truth of the saying “Mo Money, Mo Problems.” Couples with wealth of more than $1.2 million in investable assets had dramatically higher satisfaction if they worked with a financial planner.

For some families, the struggle is to accumulate enough resources to reach their goals, but for families that manage to accumulate resources, the risk is that the money itself brings challenges.

Bar chart titled Financial consumers' happiness drastically increases over $1.2 million in assets, If they've hired a financial advisor - Enhancing Personal Relationships Through Financial Planning

The study suggests that working with a financial planner can help with the new issues raised by added resources. As a Behavioral Financial Advisor® I focus on helping families understand their values and helping to bring their financial choices into alignment with those values. This is the sort of advice that can truly make a difference.

If you think you might be ready to increase your happiness and improve the quality of y our personal relationships, maybe it’s time you talked with an experienced, highly-trained, CERTIFIED FINANCIAL PLANNER™ professional and Behavioral Financial Advisor in West Saint Paul, Minnesota, I would love to meet you. Just follow this LINK to find a time for us to have a get-acquainted visit.

I am a financial planner who is an advocate for my clients ALL THE TIME – a fiduciary financial planner. I provide guidance based on clients’ best interests, not commissions or sales quotas. I think it’s the best way to serve clients and I am thrilled to work this way all the time.

And yes, I’m still taking on a few great families to be part of my financial planning practice in West Saint Paul, Minnesota and, thanks to Zoom, across the country.

Dunncreek Advisors does not provide legal or tax advice, nor is this article intended to do so.