Financial Planning

Financial Advisors for Family-Oriented Professionals

By  Brian Thorp

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Both you and your spouse are proud of the successful careers that keep you busy by day. And you’re even more proud of the children you cherish who will always be your priority and keep you busy day and night!

For many family-oriented professionals, finding the time to get your work completed while being the best parent you can be is the biggest challenge you face in your daily routine. And when you do find precious free time, you’re eager to enjoy activities and time together to make family memories that will last.

So it’s no wonder that while financial planning is often on your mind, it takes a backseat to other family priorities.

Fortunately, hiring a financial advisor who specializes in serving family-oriented professionals can offer the best of both worlds. They understand your family comes first and have the experience to know the right questions to ask and planning services they can offer to ensure you’re on a smart path to achieving your education savings goals for your children, and your retirement planning goals for you and your spouse.

But where can you turn if you’re looking for a financial advisor who truly understands the priorities and planning needs of family-oriented professionals? Fortunately, it’s easier today than ever before to find a specialist financial advisor who works with couples just like you. Beyond researching financial advisors in your neighborhood, you may find the best financial advisor for you lives several states away and is easy to work with virtually, often via Zoom online meetings, for example.

So is a financial advisor who specializes in serving family-oriented professionals right for you?

Let’s learn more by getting answers from financial advisors featured on Wealthtender who offer their perspective on the potential benefits of working with a specialist for family-oriented professionals.


šŸ‘©ā€šŸ’¼ Get to Know Financial Advisors Who Specialize in Serving Family-Oriented Professionals

This page is organized into sections to help you quickly find the information you need and get answers to your questions:

  1. Q&A with Financial Advisors Who Specialize in Serving Family-Oriented Professionals
  2. Get Answers to Your Questions About Financial Planning for Family-Oriented Professionals
  3. Browse Related Articles

– Financial Advisors Who Specialize in Serving Family-Oriented Professionals –

Three Questions with Jay Rishel, CFP:

We asked New Bern, North Carolina financial advisor Jay Rishel with Overman Capital Management to answer three questions he hears from family-oriented professionals interested in planning for their financial future.

Q: How much money should we have saved before working with a financial advisor?

Jay: It depends! Let me provide some context. This topic is an area of the financial planning profession that has intrigued me from the beginning. Historically, most financial professionals were compensated via commissions on product sales and trades AND/OR received management fees based on assets under management. These methods work fine if clients have the assets required to pursue this type of arrangement. However, it can exclude a significant portion of the population who have financial planning needs but don’t have much investable assets. 

More recently, financial professionals have begun offering subscription-based compensation models, e.g., $150 per month, which allow clients with limited investable assets to work with them. Ultimately, it makes financial planning more accessible for more people.

So, to answer the question, it varies quite a bit depending on the financial professional you choose. If you don’t have much saved but have investment management, budget, or insurance needs, look for a professional that offers different compensation models. You’ll likely find an advisor that can help you reach a point where you have more assets to invest!

Q: Should we wait to finish paying off our student loans before we hire a financial advisor?

Jay: In my opinion, no. Often, financial professionals can help you develop a plan to repay loans and provide some perspective on how best to allocate your cash flow. What’s the rate on your loan? What rate might you be able to earn with an investment account? Is it forgivable? Should you pay extra on your loan? These are all questions and scenarios that a good financial professional can educate you on so that you’re giving yourself the best chance for a secure financial future.

Q: Can a financial advisor help us even if most of our retirement savings are in 401(k) plans through our employers?

Jay: For sure! A 401(k) may be the most significant (or only) investment account for many Americans. As such, it’s critical to the success of their financial future. Typically, employers do not help employees with critical decisions like investment selection, appropriate allocation, rebalancing, contribution amounts, etc. The employees are left to figure this stuff out on their own!

Again, seek out financial professionals who do not require an “assets under management” minimum to become clients. They can review your cash flow, financial situation, and goals to make recommendations to maximize your 401(k) impact.

Disclosures: Securities and Advisory Services offered through Triad Advisors, LLC Member FINRA/SIPC. Overman Capital Management LLC and Triad Advisors LLC are not affiliated. Please note we are unable to accept trade requests via email. If you wish to place a trade, please call us at 252.635.6666. If you require immediate assistance please call Triad Advisors, LLC directly at 800.713.5445.

Get to Know Jay Rishel:

View Jay’s profile page on Wealthtender or visit his website to learn more.

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About the Author
Brian Thorp, Founder and CEO of Wealthtender profile picture

Brian Thorp

Founder and CEO, Wealthtender

Brian and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.

With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.

Connect with Brian on LinkedIn

Disclaimer: The information in this article is not intended to encourage any lifestyle changes without careful consideration and consultation with a qualified professional. This article is for reference purposes only, is generic in nature, is not intended as individual advice and is not financial or legal advice.

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