"Going It Alone"—is it for you?
by Christopher Provo
Provo Financial Services

Ours is a do-it-yourself society. Auto repairs, home maintenance, tax returns…if doing it ourselves saves us a few dollars, we’ll give it a try. Nonetheless, we also know there are some things best left to professionals—jobs too important to risk doing ourselves.

Those include building a financial strategy. Not that there isn’t the temptation to try to reach your financial goals on your own—in the short run, you might even save some money. Over the long term, though, wouldn’t you rather rely on an expert?

With so much information so readily available, it’s easy to feel like a financial expert. But try asking yourself these simple questions:

• Do I have a clear understanding of my financial goals?
   
• Do I understand all the investment options available to help me reach those goals?
   
• Do I know which of those options are right for me?
   
• Do I have the expertise to build a financial strategy and the discipline to stick to it through good times and bad?
   
• Do I have the time and expertise required to monitor and manage my investments?

If you answered "no" to even one of these questions, you may want to consider talking to a Financial Professional.

Truly effective financial professionals begin by assessing their clients’ needs—not simply recommending specific investments. You can expect your professional to begin by:

• Assessing your current financial situation;
   
• Helping you identify your financial needs;
   
• Determining your risk tolerance;
   
• Establishing your investment time horizon; and
   
• Helping you formulate a long-term investment strategy.

Next, you can expect your Financial Advisor to research a variety of investment choices and match them to your specific needs. This includes:

• Explaining the risks and rewards of each type of investment;
   
• Explaining how each type of investment works; and
   
• Helping you build and asset allocation strategy.

Once you’ve worked together to choose the investments that are right for you, you can expect an ongoing relationship with your financial professional. This means:

• Reviewing your personal and financial situation on a regular basis;

• Monitoring your portfolio and helping you make adjustments when necessary; and
   
• Guiding you through the ups and downs of investing.

Choosing your Financial Professional could be the most important investment decision you’ll make. Think about:

• Does this person understand my investment goals?
   
• Does this person respect my tolerance for risk?
   
• Am I comfortable saying "no" to one of his or her recommendations?
   
• Would I recommend this Financial Professional to my friends or family?

Because your investment and insurance needs are unique, you’ll want to find someone who will take the time to understand your goals and work with you to make your dreams come true. In fact, when it comes to building a long-term investment strategy, a well-chosen Financial Professional may be your most valuable asset.

Christopher P. Provo

Christopher P. Provo is a registered representative with Jefferson Pilot Securities Corporation, member NASD, SIPC. Mr. Provo is President/CEO of Provo Financial Services, Inc. located in Worcester, Massachusetts. For information contact him at (508)853-2997 or www.ProvoFinancial.com.