Personal Resource Center

4 basic questions to discuss with a financial advisor

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Tip: You probably wouldn't undergo major surgery without discussing the various options with the doctor. Then why would you make major financial decisions that will affect your family's future without talking to a qualified financial advisor?

Just talking with an advisor can help you identify potential gaps or shortcomings in your current financial plan that might be difficult for you to spot on your own. Here are a few questions to ask when you meet with a financial advisor to gauge the health of your investment portfolio:

  1. How does the performance of my investment portfolio compare to benchmarks? A financial advisor can compare the returns of securities and funds you own to the appropriate benchmarks to determine their relative performance against similar securities and funds. The S&P 500®, Dow Jones Industrial Average, Barclays Aggregate Bond Index, and Russell 200 Index are a few common benchmarks.

  2. Am I on track to meet my long-term financial goals? Since goals like retirement are long term in nature, you should monitor your progress toward them on an ongoing basis. An advisor can help you determine if you need to make course corrections.

  3. Is it time to rebalance my portfolio? Over time, market movements can knock your asset allocation out of balance. This is why it's important to regularly monitor your asset allocation and rebalance your portfolio by buying and selling securities in different asset classes as necessary. You'll want to be mindful of the income tax impact when making these adjustments to your portfolio. A financial advisor can help you with this endeavor.

  4. Have I maximized my use of tax-advantaged investment vehicles and accounts? For example, qualified retirement accounts like IRAs and 401(k)s can reduce taxes on your retirement savings, while tax-free investment vehicles like municipal bonds can be used to meet other financial goals.

When you are ready to talk with an experienced financial advisor to help you customize your investments to meet your unique financial priorities, Synovus is here to help. Call us at 1-888-SYNOVUS (1-888-796-6887.)

Couple talks with their financial advisor while reviewing paperwork

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This content is general in nature and does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.