Benefits Of Local Financial Advisors

The Benefits of Local Financial Advisors

Updated on Jan 09 2019

The 21st century brings many investment choices and having a seasoned, local financial advisor can help you get your investments on track for a successful financial future. Read below for three reasons a local financial professional may be right for you.

There are many misconceptions about the role of a financial advisor and how professionals in the financial marketplace are different. The reality is that having an expert helping you navigate the financial marketplace and catering investment choices based on your individual needs can be extremely beneficial long-term. Especially local fiduciary advisors who are legally-and ethically-obligated to always put you first.

Many people prefer a local financial advisor because of the convenience, interaction and more. Here are the top reasons and benefits for choosing a local advisor:

1. You Can Get Great Referrals

Local networking and word of mouth can be a great way to find a financial advisor you can trust since you’ll know people who have worked with the advisor before. Having a personal testimonial speaks volumes when it comes to trusting someone with your money. Not only that, but often local referrals can help you find an advisor who specializes in an area you need help, whether it’s retirement planning, tax services, wealth management or more.

2. In-Person, Convenient Communication

If you are not comfortable transacting business online or with a roboadvisor, a local financial advisor may be right for you. Many people prefer in-person, human contact — especially the older generations as they grew up with brick and mortar as opposed to performing all business online — so a local financial advisor is the preferred type of advisor.

In addition to managing your investment portfolio, benefits that come from a traditional, local financial advisor include being available to discuss your questions and concerns as often as you’d like at a physical location. In-person meetings can help give you clarity around your spending and goals if you set up an assessment meeting and also schedule regular check-ins. Every advisor is different, which is why it’s important to shop around and ask questions to find someone who meets your individual needs.

3. Local Expertise

Some people like to invest in local businesses and nonprofits. A local financial advisor is often educated in these types of investments, so they are a great resource if you like to invest locally to promote growth in your neighborhood, city or state.

Keep in mind that local investing can generate two rates of return for you – one directly for your portfolio, and another through your community. According to, a growing body of evidence suggests that, compared to their nonlocal counterparts, local businesses generate two to four times the local economic development impact for every dollar spent on them. So if you have an investment portfolio that includes local businesses, your dollars will continue to circulate and increase prosperity throughout your community by creating new jobs, higher incomes and ultimately support funding toward schools, parks, police and fire departments as well as safe, thriving neighborhoods. An expert, local financial advisor can help you do your due-diligence to make sure the local investment makes sense.

How to Choose the Best Financial Advisor for You

Different types of advisors work for different situations. It’s important to assess which type of advisor works best for your individual investing needs. Also, since investing is a long-term committment, it’s important to choose the option that will not only give you peace of mind, but will also help shape your financial success.

Connect with a local financial advisor to start building a financial future that gives you stability and peace of mind.

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