Hesperian Wealth founder Eric Figueroa, CFP®, describes the value of financial planning and hiring a personal wealth manager.
Transcript
A sound financial plan can make a huge difference in your life. But it’s so hard to get started on it alone.
What I can do for you is, first, help you document—in your own words—what you want to achieve and when and then help you draft a blueprint that will get you there.
What Is Financial Planning?
Getting the access and data needed to evaluate investment options, building prudently diversified portfolios, knowing when and how to rebalance, incorporating nonfinancial impact considerations if that’s important to you. This is all nearly impossible to do as well without the resources and expertise of an investment adviser.
Think about the peace of mind you’d gain and the time you’d save if you sought financial guidance. If you can, put a dollar value on the time it takes to manage your finances alone. That’s my value as your wealth manager.
Why Should I Hire a Personal Wealth Manager?
Some of it comes down to “tricks of the trade” like knowing the optimal account type to use or maximizing your employee benefits or tax-smart strategies. I’m here to guide you every step of the way. With a wealth manager on your side, you’re avoiding mistakes, not correcting for them later.
But the bulk of financial planning really comes down to . . . math. For an isolated spending goal sometime in the future, you just need to make some reasonable assumptions about what you can earn on your investments to make a good guess of what you should save today. Where the complexity comes in is when you have multiple goals over your lifetime and the lifetime of your family members. And you’ll have to make tradeoffs. It’s really hard to do all this yourself in a spreadsheet.
I use sophisticated software to lay out your goals and project your cash flows over your entire life. It uses simulations to estimate your probability of success, so you know whether you’re on track or not. Then we can play with interactive scenarios to see what courses of action improve on that or even allow you to do more than what you can today. This iterative process lets you make decisions that are grounded in science.
At the end it, you should feel a greater sense of confidence about what you’re working toward. But a financial plan is never done, it’s a living document. I monitor your progress every quarter. Together, we execute Action Items on your plan. We’ll always have at least an annual check-in. But you’re going to face major life events along the way that will have a material impact on your plan. When they happen, even if they’re unexpected, I’ll be there to help you through whatever life throws at you.
Eric R. Figueroa, CFP®
I am a Folsom, CA, fee-only wealth manager serving the Greater Sacramento area, California Gold Country, and the nation virtually. I offer financial planning and investment management, specializing in impact investing and personalized values-based investing.
All content presented on this video is for informational purposes only. Materials presented should not be interpreted as a solicitation or offer to buy or sell a security or the rendering of personalized investment advice, which can only be provided through one-on-one communication with a financial advisor. The video’s content reflects the opinions of Hesperian Wealth LLC (HW), except where cited, which are subject to change at any time without notice. The information contained herein has been obtained from sources believed to be reliable, but the accuracy of the information cannot be guaranteed. All information or ideas provided should be discussed in detail with a financial, tax, or legal advisor prior to implementation.
Investing involves substantial risk, including the potential loss of principal. HW makes no guarantee of financial performance nor any promise of any results that may be obtained from relying on the information presented. HW may analyze past performance, but past performance may not be indicative of future performance.