Are You in a Situationship…with Your Financial Adviser?

Valentine’s Day is the perfect time to reflect on the relationships in your life—and not just the romantic ones. When it comes to your financial future, are you in a true relationship with your financial adviser, or is it more of a “situationship”? In dating, a situationship refers to a casual affair where there is no clear definition or commitment. And while it may be fine even for a Valentine’s Day dinner, it’s not a good basis for a financial partnership.

A trusted financial adviser isn’t just someone you meet with occasionally; they’re a collaborator who helps you navigate your financial journey with care and expertise. At Longevity Income Solutions (LIS), we specialize in building meaningful relationships with our clients, ensuring that every financial decision is guided by trust, understanding, and a commitment to long-term success.

Why a Financial Adviser Relationship Matters

The real difference between a relationship and a situationship lies in belief, depth, and consistency. Here’s why that matters with a financial adviser:

• Trust and expertise. A solid relationship ensures your adviser truly understands your goals, values, and needs. This results in tailored advice that aligns with your unique circumstances.
• Proactive planning. Starting before a crisis, ensures early identification of risks and opportunities, helping you avoid costly surprises.
• Ongoing support. Life changes—your financial adviser should evolve with you, providing proactive adjustments to your plan as your circumstances shift.
• Accountability. With a trusted adviser, you’ll have a partner to keep you focused on your goals, even when challenges arise.

And a strong relationship with your financial adviser offers immediate and long-term benefits. Immediate advantages include:

• Personalized financial strategies. Your adviser provides solutions tailored to your current needs and lifestyle.
• Peace of mind. Knowing you have a dedicated partner managing your financial health can reduce stress and confusion while increasing confidence.

Long-term benefits incorporate:

• Guidance through life stages. Whether it’s planning for retirement, managing healthcare costs, or navigating senior living options, your adviser is with you every step of the way.
• Intergenerational wealth planning. A trusted adviser helps you protect assets and plan for legacies that align with your family’s needs.
• Support in complex decisions. From healthcare funding to estate planning, your adviser ensures you’re prepared for major financial decisions.

5 Questions Your Financial Adviser Should Be Asking You

Not all financial advisers are created equal. To ensure you’re working with someone who’s truly invested in you, consider the questions they ask. An adviser who cares will ask these questions often because answers may change over time.

1. What are your long-term financial goals and priorities? This question ensures that your adviser aligns their strategies with what matters most to you, whether it’s saving for retirement, healthcare, or leaving a legacy.
2. Do you have any major life events or expenses coming up? Understanding upcoming milestones or financial needs allows your adviser to prepare and adjust your plan proactively.
3. What are your healthcare and senior living preferences as you age? Healthcare costs can be a significant part of your financial plan. This question helps tailor strategies to ensure you’re financially prepared for your preferred care options before you need them.
4. Are there specific assets or legacies you want to protect or pass down? This helps your adviser design an estate plan or investment strategy that secures your assets for future generations.
5. How comfortable are you with financial risk? Your risk tolerance shapes your investment approach. This question ensures your financial plan matches your comfort level and goals and adapts with age.

If your adviser isn’t asking these questions, they may not be as invested in your success as they should be.

At LIS, we understand the unique challenges faced by aging, especially when adverse health conditions arise. With over 50 years of combined experience in the senior healthcare industry, we bring a depth of knowledge and compassion to the work we do with each client. Our team doesn’t just focus on numbers; we focus on you—your goals, your preferences, and your future. From home healthcare to skilled nursing and beyond, LIS is here to ensure you have the financial resources you need at every level of care.

You can make a quick date night for Feb. 14, but for finances, choose a long-term relationship over a situationship. A true relationship with your financial adviser can prepare you and protect your assets, securing a safe and healthy future.

Ready to grab coffee? Contact us today for a no-cost consultation. It’s time to build a financial future tailored to your unique needs and goals.