Investment services that financial advisors offer go well beyond understanding how stocks and bonds work and the hottest trends in the market. It goes beyond learning how to start investing in stocks. Advisors can identify your personal risk factor, industries, social impact, short and long-term goals, and then build a customized investment strategy just for you.

The financial plan is one of the most valuable services a Financial Advisor offers. The advisor will take a complete inventory of your expenses, debts, assets to create a baseline. Then, they’ll guide you through your goals for saving, vacations, retirement, education funds for your kids and partner with you to discover what type of lifestyle is reasonable for you. Advisors often funnel this information through specialized software that crunches inflation, possible investment opportunities, compounding interest and much more to guide you to your goals.

As a parent, it can be a bit daunting to figure out how to help your children afford college. Advisors have access to specialized funds, such as a 529, that offer tax benefits to maximize your investment. A 529 may not be the best solution for your personal goals and plan for your family. There are other “vehicles” that empower parents to save for their children if college doesn’t end up being in their future.

Whether you’re planning for yourself or helping a loved one navigate this stage of life, you’ll discover there’s quite a bit that goes into retirement planning. Financial advisors help make sense of unexpected costs, long term care, social security, and ultimately the lifestyle you want when you enter retirement.

Although receiving an inheritance can seem straightforward, there’s actually quite a bit to consider. Preferably, you’ll want to build a strategy for both receiving and giving an inheritance away to maximize the amount the benefactor(s) will receive and reduce the amount lost to taxes.

Navigating life insurance options can be tricky. When is the best time to get life insurance? Is it too late? Depending on how old you are, your income, and the considerations for your benefactors, it may vary what policy is best for you. Financial advisors not only guide you to the best option for today, but for your future stages of life.

Tax strategy should not be confused with tax preparation. Every financial advisor can guide you on how to minimize your tax liability, which ultimately keeps more money in your pocket.

Managing your cash flow strategy can be one the most important services a financial advisor can offer. Bottom line, how do you put your current dollars to work to grow your wealth and protect your future? If you have a large sum of money sitting in a savings account (or under a mattress), you’re slowly losing your wealth. A financial advisor will look at everything from buying/leasing your vehicles to how to diversify where your cash is being invested to provide the lifestyle you’re striving for.