Broker Check

Who Needs Newmarket Advisors?

Sometimes we need the help of others.  This is a fact of life, and one that also applies to our financial decisions.  That's why some of you will seek the services of a financial advisor.  Whether you lack the time to do a research yourselves or you feel the need for a professional opinion, financial advisors can be convenient, cost effective, and helpful.

You're busy! You want to change what you are doing financially! Or don't know where to go financially! There are a lot of reasons why you should hire a financial advisor. Paying someone to do something you think you could do yourself is fine.. if you know you'll never get around to actually doing it yourself!  However, if you think professional financial help is for you, make sure you understand how folks in the financial field are compensated. If a financial advisor works on commission (they want to SELL you something) be forewarned: There interests and your interests may not always be aligned.

We know we could handle all the aspects of our financial planning on our own; we may even think we should handle it all on our own. But we never get around to it. We have too many other things to do... or we convince ourselves we do. "I know I should create a living will, but I will get to it tomorrow!" -- and you've been saying this for years, then it's time to call a financial advisor.

Herein lies the value of a financial advisor. You have someone who can tell you everything you need to know. You will have someone who will continually update your asset allocations without additional cost. You have someone to call when you have a financial question.

At Newmarket Advisors, Inc we have clients with $100,000 and we have clients with much more. We have clients age 33 and clients age 83. What I am getting at is that everyone is different in our eyes and the way that we serve them is different. Anyone you talk to should spend many hours going over everything in your financial life, both past and future, weather it be planning for your six year olds college education, or talking about a secure retirement income for you in five years. And those discussions should be ongoing! Not just when you sign on the dotted line.

I firmly believe that you can learn much of what you need to know about personal finances. It just takes time (and a little curiosity about the topic helps). But if you find that you're just not getting around to taking care of business, then get a financial advisor. The money you pay them will be worth the bigger nest egg, reduced debt, lower taxes, sufficient insurance, and peace of mind. The money you pay might even be less than what you are spending now!

This is all predicated on finding a good financial advisor, which brings us to my earlier statement: If you hire someone who's paid via commission, watch out for the inherent conflict of interest. Though some people may call themselves "financial advisors," many are really salesmen. They sell products such as: insurance, annuities, stocks, load mutual funds, etc. Don't get me wrong, there is a place for all of these, and much more in your financial life, but there are ways to purchase them without high fees or commissions.

That's why we at Newmarket Advisors, Inc. are fee-only financial advisors. You pay us for our advice, not our products. And, we will continually discuss your entire financial picture -- your taxes, your budget, your insurance, your retirement, your college costs, your estate (even if you're not a millionaire) -- not just your investments.

If you're the type who needs a benevolent nag and a helping financial hand, then consider a financial advisor with whom you can build a more personal relationship, Steven Newman at Newmarket Advisors, Inc.