Episode Summary
Financial planners often get a bad reputation because people either don’t trust them or they feel like planners are a waste of time — they could be doing the job themselves. So on today’s episode, sponsored by First Horizon, YFP’s Co-founder & Director of Financial Planning, Tim Baker is here to discuss the four reasons why having a financial planner is crucial for managing your investments. From our conversation, you’ll gain a better understanding of the type of accounts that a financial planner could manage on your behalf, what an Investment Policy Statement (IPS) is, and why it’s vital for your financial plan. Then, we dive into the 4 reasons why, if it is the right fit, having a financial planner manage your investments is a good idea. Spoiler alert…hiring a financial planner to beat the market didn’t make the list!
Links Mentioned in Today's Episode
- ‘What Issues Should I Consider When Reviewing My Investment’
- ‘YFP 275: How to Build a Retirement Paycheck’
- ‘YFP 213: 5 Investing Considerations for a Volatile Market’
- Investing for Dummies
- YFP Planning: Fee-Only Financial Planning for Pharmacists
- YFP Disclaimer
- Tim Baker on LinkedIn
- Tim Baker on Twitter
- Tim Ulbrich on LinkedIn
- First Horizon’s Pharmacist Home Loan
- Subscribe to the YFP Newsletter