When it comes to understanding why we make investment recommendations, the key for the Thimbleberry Financial team is communication so that we can put the financial puzzle together for our clients.
From our initial meeting, we’re getting to know each other, exploring financial planning needs and wants, discovering financial planning goals, and discussing expectations. Once you’re a client, we will check in with you periodically to review your financial plan and investments and make changes as needed. There is no charge for the initial meeting; we simply want to get to know you, have you get to know us, and figure out if we’re a good match.
The Financial Puzzle
While we can create the most efficient and effective plan today, the reality is that in the future, the plan may eventually become inefficient because opportunities are constantly changing. Instead, we create a plan that not only fits the financial puzzle pieces together but also allows you to have smart access to money when you need it. To understand your puzzle, we ask questions like these:
- What banking, investment, and insurance accounts do you currently have?
- What are your long-term and short-term financial goals?
- What is your timeline for retirement?
At every decision, we help to minimize risk while taking your overall financial plan and goals into consideration.
We don’t like talking about worst-case scenarios but we need to include it in our evaluation to help clients understand why we recommend certain investments. While you may not need the money today if you had an emergency, how fast could you access the funds? For certain annuities or real estate funds, for example, the investment may require a certain amount of time invested before you can cash out. That can be problematic if you need funds for an emergency.
What are the tax consequences of this investment?
Not all investments are equal when it comes to the taxes and fees so it’s important to understand the consequences prior to purchasing. As an investment fiduciary, it is my job to act in the best interests of my clients. That is why we carefully review options to see if there is a different way to achieve the same result with fewer fees and/or tax consequences. As your financial advisor, I also want you to understand how I get paid even if you’re not directly paying me. I welcome any questions you have related to this topic.
At Thimbleberry Financial, we are committed to communication so that our clients understand investment recommendations and how those recommendations fit their financial puzzle.