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Benefits of a Strong Relationship with Your Financial Planner

Benefits of a Strong Relationship with Your Financial Planner

May 29, 2024

While some may view a client-financial planner relationship as cold and sales-like, this perception could not be further from the truth. Building a solid relationship with your financial planner is crucial in ensuring trust, confidence, and transparency. Indeed, confidence, honesty, reliability, and accountability are all fundamental aspects of any relationship, and the construction of a strong relationship with your financial planner is beneficial and essential. 

But what makes a strong relationship, and how does a strong relationship with your financial planner benefit your financial goals? With over 30 years of financial experience, here’s what our family-owned firm has to share about building a strong relationship with financial planners. 

What is a financial planner?

A financial planner is a professional who works with families and individuals to manage, organize, and plan the financial dimensions of their lives. Between developing financial goals and creating strategies to achieve them, financial planners can offer their expertise and guidance for investing, retirement, tax planning, budgeting, insurance, estate planning, children’s education, and more. 

The main goal of a financial planner is to develop a comprehensive financial plan for a client while helping the client assess and understand their current financial situation as it relates to their life and what matters most to them. At Dunnigan Financial, this is life-centered planning, or what we call planning for life. 

How Financial Planners Can Help 

Financial planners can help develop a positive financial future. Wherever you may be in life, financial planning creates confidence by understanding the present, setting goals for the future and building a bridge to link the two. However, we also believe that financial planning inherently goes beyond the numbers, and our goal is to create a financial plan based on trust with your life at the center. Our relationships are our greatest assets in life, and we seek to embody this philosophy by building a strong partnership with you and your family based on trust, empathy, and respect - starting from our initial meet and greet kickoff meeting, a personal connection can begin to forge. 

Benefits of a Strong Relationship with Your Financial Planner

On the surface, a financial planner might be seen as a pathway to realizing financial goals. While this is undoubtedly the intended future outcome, nuances such as building a strong relationship with your financial planner can make a significant difference both for the success of your financial future and your confidence and peace of mind. By building a strong relationship with your financial planner, you can expect to benefit from the following: 

Mutual Honesty

A strong relationship with your financial planner helps ensure mutual honesty. By feeling more comfortable opening up to your financial planner about your goals and current financial situation, the financial planner can better serve you by making a plan that more closely aligns with your life-centered vision. 

Confidence

A strong relationship also helps to build confidence between each party. On your end, a stronger relationship allows you to have confidence in your planner, particularly that they know what they're doing, that they can effectively maintain their portfolios and, above all, safeguard your investments.

Trust

As important as your financial planner's performance is your trust in them. You have to trust that the person sitting on the other side of the table has the knowledge, experience, and insight required to safeguard your finances. Furthermore, you need to be able to trust that your financial planner has your best interest in mind and that they will leverage all of their experience to benefit you and your family. 

Confidentiality 

Financial planners are entrusted with sensitive information, and clients need to know that their planner will keep this information confidential. Building a strong relationship with your planner and hearing directly from them about how they intend to store, send, and receive information helps instill further trust and a more beneficial outcome. 

Transparency 

Similarly to mutual honesty, a strong relationship between clients and financial planners is conducive to more transparency. This includes transparency about qualifications, experience, and fees from the planner's side as well as from the client’s side regarding expectations, current financial situation, and goals. 

Accountability 

A strong relationship between a planner and a client also ensures accountability. You and your family need to trust that your planner will take responsibility for their actions, and accountability goes on to build trust and confidence.

Discover Your Financial Planning Relationship

As our founder Shawn Dunnigan has said, “Among all things, it is our relationships which prove to be our greatest assets", and this could not be more true with financial planning. Building a strong relationship with your financial planner helps build core values such as honesty, trust, confidence, confidentiality, transparency, and accountability - all of which are non-negotiable in the financial world. If you’re looking to establish, plan, and build your financial future with the help of financial planning services, consider contacting the family-owned team at Dunnigan Financial today.