Anna Perasso

Northeast Regional Growth Consultant
Avantax Wealth Management

“The benefits of financial planning are to help identify risks and to establish and prioritize goals. The process helps to anticipate where financial needs exist and where new risks, such as long-term care and other insurance needs, might be needed on newly acquired major assets.

The plan establishes benchmarks within a finite timeframe where a comparison with actual results creates an early detection system for deviations or black swan situations. It helps to keep the client focused on achieving the objectives of the plan and provides the client with clear choices and alternatives to consider. It also makes the client aware of the consequences of forgoing options on economics that may lead to more suitable decisions.

Another great benefit that comes with financial planning is it provides the client with a financial roadmap to help the client be clear on how and what they will be able to accomplish, and it is reviewed each year with their financial planner.

So why use a financial planner? A seasoned professional in financial planning likely has prepared hundreds or even thousands of plans in their career and completed prerequisite educational requirements, in addition to ongoing continuing education courses. A client rarely has in-depth knowledge on mortality risk, disability risk, investment returns, risks associated with various asset classes, the cost of college education or the savings rate needed to drive the achievement of their goals. The overall greatest value a planner brings to bear is arguably their objectivity.”