Do you need an accountant or financial advisor?
June 17, 2022

When it comes to deciding whether you need an accountant or a financial advisor, the answer is, you likely need both.

Each of these specialists in money management has unique skills and knowledge that, when used in tandem, can be very beneficial to your financial health. One expert is not interchangeable with the other.

To better understand why it’s well-advised to have both an accountant and a financial advisor in your corner, let’s look at what each one brings to the table.

A financial advisor’s primary role is to improve his or her clients’ finances and help them manage their money.  While some will help with investment strategies, others are trained to advise on building savings, paying down debt and what type of insurance to buy.

For some individuals, their financial manager is their go-to advisor when it comes to all things involving money; for others, the financial advisor is there on a more of an as-needed basis when various matters arise, often relating to the stock market. Either way, having a professional financial advisor to help guide your money management decisions is a worthwhile investment.

That thinking also applies to having a highly skilled accountant on your financial team. If that seems redundant, think again. Just as we looked at what a financial advisor brings to the table, let’s look at what an accountant offers.

Tax planning is key to a more complete and prosperous financial life. An accountant is the professional you want on your side to provide much-needed information on the tax implications of your financial decisions. Whether you’re selling a business, planning for retirement, purchasing an investment property, or just charting your future, an accountant can help make sure not only you, but your financial advisor as well, is fully informed of all matters tax-related.

Considering your finances in a more integrated way can prevent many potential pitfalls. When you, your financial advisor and your accountant are working together on your behalf, a more complete picture is available, and so is a more robust outcome. Open communication between all is the successful recipe.

As always, we are here to help guide you in a comprehensive and holistic manner, as you navigate your financial matters.


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