Justine Zavitz

Justine Zavitz

Taking care of your financial health takes the same kind of comprehensive and collaborative approach that you would take when looking after your physical and mental well-being. Much like in medicine, financial professionals tend to have their own unique specialty.  Ours is insurance…but you will also want an accountant, lawyer, banker, investment advisor, and possibly others on your financial team. 

All of these professionals will do some planning with you in order to determine the appropriate recommendations within their area of expertise. But who is taking the lead and providing the comprehensive overview of all areas to make sure that all the individual pieces will fit together?  The reality is that most of those mentioned above will be capable of doing it.  Sometimes they will step up and take the reins whereas other times it will be up to you to choose.  There are some considerations for you when building your team and deciding who will be the right one to take the lead:

  1. Do all of the professionals on your team specialize in the industry in which you work?                                  
  2. Does the lead planner provide you with a comprehensive written plan?                                                                               
  3. How are your professionals paid? Is there transparency in the fees that are charged?
  4. How much control do they have in choosing products?
  5. Do you trust them and enjoy working with them?
  6. What kind of education do they have? What designations do they hold and what does each mean?
  7. One of the most important things about each of your team members is to make sure they will collaborate with each other throughout the planning process. Each one of us will bring our own unique expertise to the table, so to ensure your plan is truly comprehensive and has considered all of the various areas, your professionals should be talking to each other throughout the planning process.

Financial Team

All of these points are important to consider when building your team of professional advisors. At the end of the day, the most important aspect of building your dream team is that you are comfortable with them, confident in their abilities, and that they are looking out for your best interests.