What does a financial advisor do?

Financial advisory services

Key Points

  • By getting to know you, advisors can provide advice personalized to you and your goals.
  • An advisor works to understand what matters most to you, in order to help you adjust your investment strategy as life changes and priorities shift.
  • Personalized advice can help you stay on track with your financial goals over time and amidst a variety of market conditions.

What is it like to work with a financial advisor? Many people who work with an advisor feel better about their financial future. In fact, 90% of Ameriprise clients who have had the Confident Retirement® conversation feel more confident about retirement.1

To help illustrate how a relationship with an advisor works and the benefits that may result from personalized advice, here are some answers to commonly asked questions about advisors and financial advice.

What if I only need advice in one specific area of my finances?

Financial advisors provide a spectrum of financial advice, ranging from simple strategies that focus on one aspect of your finances to taking a more comprehensive approach through more complex strategies.

Some people don’t have the time to manage their investments or they want to feel more confident about making financial decisions. Others like to do some research themselves but want to work with an advisor to gain more control over their investment strategy as conditions change.

Advisors will deliver personalized advice based on your unique goals, investment time horizon and risk tolerance, to name a few factors.

What are the advantages of an ongoing relationship with a financial advisor?

In addition to understanding the analytical side of pursuing financial goals, financial advisors also consider how events in your personal life, the economy and the markets impact your overall strategy.

In delivering personalized advice, an advisor brings together three valuable elements:

  1. Insight into your specific situation;
  2. The ability to develop an investment strategy for today while factoring in measures to adjust to changing circumstances; and
  3. Knowledgeable advice and guidance to help you achieve your personal goals.

Can an advisor help me manage emotional reactions to unexpected or unforeseen circumstances?

A financial advisor can help you maintain a long-term perspective on market-driven or current events without losing sight of the bigger picture. Similarly, personal events that can impact your ability to stay on track with financial goals, like disability, job loss, or health issues, can prompt emotional reactions and decisions that could derail your progress. An advisor can help streamline and prioritize decision-making during turbulent times so that you can stay the course financially.

What resources do Ameriprise financial advisors rely on when delivering personalized, goal-based advice?

In addition to their own skills and experience, advisors at Ameriprise have access to a depth and breadth of expertise. The Ameriprise Investment Research Group (IRG) provides ongoing commentary and longer-term perspective and analysis of the domestic and global economies as well as the condition of the capital markets.

These market and economic experts support advisors and clients with an objective view of market events, enabling our advisors to work with their clients in reviewing their investment portfolios regularly and while tracking progress toward goals, help them make real-time adjustments as needed.

Can an advisor can help me navigate tax strategy?

Whether you’re focused on saving for retirement or a child’s college education, there are a variety of tax strategies and solutions that can help. A financial advisor, along with your tax advisor, can help you incorporate tax-advantaged products and investments into an overall, long-term investment strategy.

How can advisors help me if I’ve fallen behind in reaching my financial goals?

The Ameriprise Confident Retirement approach is designed to help clients feel more confident, connected and in control of their financial future. Through personalized advice and digital tools to help you stay on track with your goals, you and your advisor can devise a strategy that can help you “catch up” to where you want to be, and when you want to get there.

How much does a financial advisor cost?

Just as with other professional services, the fee you will pay for personalized financial advice based on your goals will depend on the degree of advice right for you.

Together with your advisor you’ll discuss the financial advice you’ll receive and the related fees, before you pay anything.

Find out more

Financial advisors take the time to understand what’s truly important to you so they can help you achieve your financial goals, today and tomorrow. By offering professional tools and advice, your advisor can help you feel more confident about your financial future. Meet with an Ameriprise advisor today to learn how they can help you meet your financial goals, today and tomorrow.