A professional finance advisor should be hired as soon as one starts earning, even if you are a lawyer. There is no right time, right wealth or too early time to hire a financial advisor. The earlier the better in case of hiring an advisor. The professional and you can together build wealth and protect as you move further in your career. One might feel under confident to approach an advisor as they don’t know what to ask them in the meeting. But financial planning for lawyers is equally important as any other aspect of planning.
The first meeting for a lawyer is about getting to know both the parties involved. The advisor will know what to ask you in this meeting. It will be an introduction meeting where you will understand about their previous work, they will ask you regarding your financial purpose and share ideas regarding the same. Here is how to get started in the financial journey with the advisor.
Make Notes
Yes, get a notepad or a virtual sheet and jot down your questions before you contact an advisor. Here a lawyer can correct or delete in case he is not sure about any question or if the advisor has himself answered it in their intro. Read the literature available on the particular advisor and then draft questions accordingly.
Also make a note of all your financial concerns and goals. This will take the meeting in the right direction. It is important for you to understand how much risk you are willing to take, what are your expenses and liabilities so that the advisor can advise you rightfully.
They will definitely be asking regarding your goals and you should be able to answer them comfortably. Also be sure what are the risks and strategies you are ready to indulge in as a lawyer, and which you aren’t. Making note is the primary task you should accomplish.
Get Hold Of Financially Literate Colleague Or Friend
There is no need to shy away from discussing finance with friends and colleagues. Today people are more literate about the capital market and the investments. Everyone is always looking to invest and earn more from their income. Thus each has some or the other financial idea. Once you speak to someone they can guide you or even suggest a financial advisor for you. They can share their financial strategies with you and opine on what questions to ask the advisor.