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Illinois Financial Advising FAQs

Wealth Advisors Answer Frequently Asked Questions About Financial Planning in the Chicago Area

If you are considering hiring a financial advisor, you may have many questions regarding how financial advising works and how to manage your assets more effectively. The experienced professionals at Brookstone Wealth Strategies can answer any questions you have regarding your personal financial situation and goals. In the meantime, the following answers to some frequently asked questions may help you to decide whether financial advising is right for you.

What is a financial advisor?

Financial advisors offer a wide range of financial services for individuals, families, and businesses. We assist with financial planning for retirement, divorce, college savings, and other major life events; provide advice on insurance and tax strategies to protect your assets, and manage your investments to help you achieve your goals. We work with each client to strategize based on their needs and current situation, implement a plan for success, protect their existing wealth, and grow their assets.

When should I work with a financial advisor?

Financial planning can begin at any stage of your life, and in many cases, a proactive approach leads to better results. You do not need a large amount of assets to make financial planning worthwhile. We can work with you early in your adult life to create a budget, plan, and saving and investment strategy to help set you up for success in the future and start making steady progress toward your long-term goals. We can also help you later on in life as retirement becomes a greater priority or after a setback that leaves you uncertain of your financial future.

How do I know my assets are in good hands?

Working with a financial advisor often means that you trust them to manage your investments. This means that you need someone with a depth and breadth of knowledge, and we offer just that, with more than 30 years of wealth management and financial planning experience. You also need someone who puts your interests first, and as fiduciary advisors, we strive to make investment decisions that are best for you, not ourselves.

How do you charge for your services?

We provide most of our financial services for a fee, with the amount based on the type of services rendered and the amount of assets we are managing for you. As fiduciary advisors, we are always acting in your best interests. For some investment management services, we charge a commission, and we will discuss this with you if or when it pertains to your situation.

What types of investments should I consider?

If you have little investing experience, it can be hard to know where to begin. Different types of assets offer different levels of risk and security. For example, growth stocks are often more volatile while offering greater growth potential, while value stocks are generally safer and more stable over time. Other options like bonds and cash equivalents tend to offer even greater security, but with less potential for growth. We work with you to build a diversified portfolio of domestic and international investments in a variety of asset classes that can limit excessive losses and leave open opportunities for significant gains, depending on your goals, needs, and risk tolerance.

How can a financial advisor help with my retirement?

Retirement is often a major priority for those who seek the services of a financial advisor. Accumulating the resources you will need in retirement takes time, and a strategic plan can increase your chances of success, especially if you start fairly early. In addition to managing your investments with your retirement in mind, we also advise you on strategies regarding retirement account contributions, Social Security and Medicare benefits, and retirement income planning and budgeting.

What can a financial advisor do for my family?

We understand that your financial goals are often influenced by your desire to provide for your family. We can help you do so not only by budgeting for your family's income and expenses but also through specific strategies that help you save for your children's and grandchildren's education. We also collaborate with estate planning attorneys to help you protect your assets for future generations and distribute them to your chosen heirs after your death.

Contact a Naperville, IL Financial Advisor

If you are looking for answers to your personal financial advising questions or to get started with a financial planning or investment management strategy, contact us today at 630-741-4491. We are located in Warrenville, IL, and we serve clients in Naperville, Wheaton, Lombard, Downers Grove, Aurora, Batavia, and throughout DuPage County, Kane County, the Chicago area, Illinois, and the United States.

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