Personal Resource Center

Questions to ask your financial advisor

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What should you ask your financial advisor the next time you meet? Focus on questions that are specific to your situation - and what you can do about it.

How can we take advantage of a down market?

No one likes to look at downward-trending graphs and red markup that signal losses when reviewing their investments. But there could be one small silver lining: opportunities to save on taxes.

Ask your advisor if there are any tax planning opportunities available. You may be able to take advantage of a tax loss harvesting strategy or use losses in some investments to offset gains elsewhere.

What does my investment withdrawal strategy look like?

Successful investors know that growing wealth is a long game — even as you approach retirement. While you will need to begin relying on your assets once you stop working, there may be whole accounts that you don't touch for another 10 (or more!) years as part of your overall plan.

Ask your advisor about your specific withdrawal strategy. Understanding how you'll access your nest egg and where you'll pull money from first can give you some peace of mind — even in a down market or ahead of a potential recession.

Where can I take action right now?

A good investor also knows that sometimes, the right thing to do is nothing at all. Despite market volatility and fears of an economic downturn, your advisor may caution you against making radical change in your portfolio.

Even in uncertain times, staying the course is often the best move you can make.

Still, it doesn't feel good to sit idly by — so ask your financial advisor what you can do. What is within your control to increase your odds of success with your financial plan?

Some options to discuss might include:

  • Updating your personal budget or adjusting your cash flow (so that you can spend less and save more).
  • Getting any excess cash off the sidelines and into the market while stocks are essentially on sale.
  • Adjusting the timeline of your goals or reconsidering how you'll retire. Is there a way you can step back from your primary career but still earn some income? Does working an extra three years dramatically improve your odds of long-term success?

Your Synovus financial advisor can discuss these topics with you and make suggestions of where you can focus your energy right now.

It's not easy to ride the waves of a turbulent market, but those who can stay calm and focused on the big picture may find themselves in a better position on the other side of the storm. By asking the right questions, your financial advisor can also provide better guidance along the way. Our experienced financial consultants are here to help whenever you have questions. Contact us at 1-888-SYNOVUS (1-888-796-6887).

Important disclosure information

Diversification does not ensure against loss.

  1. "The S&P 500 just had its worst first half in more than 50 years, which 'stressed' this classic investment strategy," Greg Iacurci, CNBC, https://www.cnbc.com/2022/07/01/sp-500-had-worst-half-in-50-yearsbut- the-60/40-portfolio-isnt-dead.html, Accessed August 2, 2022. Back
  2. "Brutal First Half Puts Bonds in Line for Worst Year in Decades," Yoruk Bahceli, US News & World Report, https://money.usnews.com/investing/news/articles/2022-06-30/brutalfirst- half-puts-bonds-in-line-for-worst-year-in-decades, Accessed August 2, 2022. Back