The Advantages of Working With a Finanical Advisor


Sgroi Financial

Getting educated about your retirement and wealth-management options plays a big part in planning your financial future. However, it can be perceived as an overwhelming process to understand what the right steps are for your individual goals and retirement options. This is where a financial advisor can help guide you through the process and answer the questions and concerns associated with financial planning.

Whether you are nearing retirement, have questions about your current financial path, or just starting out and living paycheck-to-paycheck, a financial advisor could be beneficial for you. They can help tackle tough issues relating to wealth management and personal money matters. They can assist with creating a personalized retirement savings plan with a timeline, build a plan to meet financial goals such as saving for big life happenings, or answer questions about life insurance.

The Research Behind Hiring a Financial Planner

In the latest study from Northwestern Mutual’s 2023 Planning & Progress Study, finds that those who work with a financial advisor and those who identify as disciplined financial planners are more likely to report greater feelings of strength about the current state of various aspects of their lives, both personal and professional.

66% of Americans say their financial planning needs improvement, yet only 37% seek help. A financial advisor can be a good resource for life. They can help alleviate any financial stress you may have and create a long-term plan that best fits your budget and lifestyle. Creating a plan with a professional can help you be in control of your future.

Having a Team Effort Approach

You go to a doctor when you’re sick, a mechanic when your car needs to be fixed, and hire a contractor when you build a house. Of course, if you had the time and knowledge to learn each of those professions, you could do it yourself. However, most people will hire a professional to get the best advice that will save them the most time. When it comes to your financial plan, you could do it yourself. However, having the professional option to look at things differently with the expertise to find ways to get the most out of your investments can take your financial plan to the next level.

Planning for the Unexpected

Another situation we come across a lot is married couples, where one spouse is a do-it-yourself type person who handles all the finances for the family. Everything is fine until that spouse is no longer capable of managing the financial plan or passes away; leaving the rest of the family without knowledge of their investments and guidance to continue their financial plan. By working with a financial advisor, you’ve secured a financial plan for your family in case something does happen. This approach will bridge gaps and allow the family to continue their financial plan with minimal stress.


Taking the Emotion out of Investing
Because investing evokes emotion, advisors help clients maintain a long-term perspective and a disciplined approach. The hardest part of investing is sticking to the plan through the best and worst times. The allure of market timing and the temptation to chase performance creates unneeded stress to a financial plan. Abandoning a planned investment strategy can be costly; research has shown that some of the most significant derailers are behavioral. This is where having a trusted financial advisor with whom you have a strong relationship is key. They should act as behavioral coaches, reminding you that the financial plan was created before emotions were involved. Discipline and guidance could be the largest potential added value a financial advisor can offer.


Sgroi Financial is a full service, independent financial planning firm proudly serving the Western New York area since 1971. We offer services that will help you achieve your financial goals including retirement planning, investment management, estate planning, college planning and insurance. We help individuals, families, retirees, working adults, young adults and business owners.