3. Enlist Help From Professionals.
As women, we wear so many different hats and take on so many responsibilities. It’s almost second nature for us to multitask, because we’re always faced with so many demands. There are areas, though, where reaching out for help is critical — especially when professional advice is warranted. Some professionals who could be helpful to hire: a CPA, estate planning attorney, insurance broker or agent and financial adviser.
When it comes to a financial adviser, it is crucial to work with one who acts as a fiduciary. A fiduciary is ethically and legally required to act in their client’s best interests. This is an important distinction to make. Not all financial advisers are held to that standard, and some must only uphold what is referred to as a suitability standard — they are only required to make recommendations that are suitable given the client’s situation, age, goals and other factors.
Experience, education and, of course, rapport are other factors important to selecting all these professionals. To learn more about important factors to consider when choosing an adviser to work with, see the article “How to Find a Financial Adviser.”
Taking Control of Our Futures
Today, women control a third of the total U.S. household investable assets — approximately $12 trillion (opens in new tab). Over the course of the next decade, as Baby Boomers pass away, this share will get even larger. By 2030, women are expected to control much of the $30 trillion (opens in new tab) that will be bequeathed from Boomers. With that in mind, being able to make important investment decisions is becoming of greater importance in our lives.
Taking control of your finances is one of the many ways we as women can strengthen our futures — not only for our own lives, but for all of the women and daughters who follow us.
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Halbert Hargrove Global Advisors, LLC (“HH”) is an SEC registered investment adviser located in Long Beach, California. Registration does not imply a certain level of skill or training. Additional information about HH, including our registration status, fees, and services can be found at www.halberthargrove.com. This blog is provided for informational purposes only and should not be construed as personalized investment advice. It should not be construed as a solicitation to offer personal securities transactions or provide personalized investment advice. The information provided does not constitute any legal, tax or accounting advice. We recommend that you seek the advice of a qualified attorney and accountant.
This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC (opens in new tab) or with FINRA (opens in new tab).
