A Financial Advisor is a registered professional who helps clients create and execute a financial strategy. Advisors use their expertise in investments, tax planning and insurance to develop a plan to help clients reach their goals. Financial advisors work with individuals at every stage of life, and their strategies can be tailored to a client’s specific situation.

Exponent Investment Management financial planning process typically starts with an assessment questionnaire that gathers information about a client’s current finances and their desired future state. This includes a breakdown of the client’s net worth, assets, liabilities and liquid or working capital. It also covers details like risk tolerance, estate-planning needs and long-term care risks. The resulting analysis is then synthesized into a comprehensive financial plan that serves as a roadmap to help the client achieve their goals.

Generally, people turn to financial advisors for help with the following areas:

Investment management: A financial advisor uses personalized strategies that align with a client’s unique goals, risk tolerance and investing horizon. This may include incorporating options like exchange-traded funds (ETFs), mutual funds and individual stocks.

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Estate planning: An advisor can help you identify the people and organizations you want to receive your legacy and create a plan for passing on that inheritance.

Tax planning: Financial professionals use their in-depth knowledge of complex tax structures and exemptions to minimize a client’s expenses. This could involve setting up a tax-loss harvesting security strategy or helping them maximize retirement contributions and deductions.