Financial issues can have a major impact on relationships. It can cause people to feel stressed, sad, and unable to cope with the goings-on in their social circle.
If left unresolved, financial crises can be debilitating, and could potentially result in losing decades-long ties with loved ones, friends and colleagues.
On the other hand, having poor relationships may also lead to unhealthy finances. An officemate who urges frequent splurging can be just as bad as a partner who doesn't have any plans for his or her future.
Although it can be near-impossible to choose one's relatives or colleagues, it is best to be careful about who to trust when it comes to personal finances. A safe option is to seek help from a professional financial advisor.
Selecting the right financial advisor is a crucial first step to financial security. A recent campaign by Sun Life showed the dilemma faced by individuals when meeting a financial advisor in a humorous light. Check it out to see if you can relate:
To avoid falling prey to the stereotypical financial advisors in the video, it is best to take note of the following characteristics when looking for an advisor:
1. Competence – Certifications and trainings are important, but choose an advisor who can also explain financial concepts in an easy-to-understand way.
2. Compatibility – Find an advisor who you can relate with and who understands your current status and lifestyle.
3. Cost-Conscious - A good advisor will help you find the best financial plan that fits your budget and your future goals.
4. Accessible – Choose the advisor who is easy to contact and who can make time for you, especially for regular financial checkups.
It’s good to remember that financial planning doesn't stop after a policy has been signed or an investment has been made. Rather, it is just the beginning of a lifelong relationship, as a reliable advisor can help with making financial decisions in your life, whether big or small.
Kick-starting your financial journey is not an easy feat. There will be ups and downs, but a Sun Life financial advisor will always be there to guide you. If you're still having trouble deciding, Sun Life Financial has created an online tool called Advisor Match where you can easily find an advisor who matches your needs. Click here to meet the advisor who has the knowledge, experience, and characteristics that will best suit your needs.
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