Global View Investment Blog

Refresh Your Finances: A Fiduciary’s Spring Cleaning Guide

Just as our wants, needs, and goals change, so can our financial needs over time. As an annual spring cleaning occurs, you should consider doing the same review and clean-up process with your finances. This can include updating your budget, creating a new financial plan, or rebalancing your portfolio.

So much can happen in the span of a year. You may have switched jobs, changed your financial goals, or prioritized new spending needs. All of these changes should be reflected in your financial plan, and that's when a little financial spring cleaning can help.

Here at Global View, our experienced team of Greenville CERTIFIED FINANCIAL PLANNERS™ helps successful individuals and families develop comprehensive financial plans and investment portfolios, reflecting all of the necessary life updates that can impact your financial situation. 

Our blog will provide a simple guide on updating and decluttering your finances.


Understanding the Role of Fiduciary Investment Advisors

A fiduciary investment advisor is a professional who is required by law to act in your best interest. Because of the advisor's fiduciary duty to work in your best interest, they are typically compensated by a fee you pay them rather than a commission from a third party, like a mutual fund company. 

Transparency is another important component of the fiduciary standard. Your fiduciary investment advisor should provide you with regular updates about your assets, especially if changes are needed to adjust for market volatility, inflation, or life events as they occur. 


The Importance of a Comprehensive Financial Plan for Your Retirement Years

On the surface, retirement planning hasn’t changed much over the years. As you progress in your career, you work, save, and invest. However, as financial priorities change over time, so should the complexities of your investment strategies. For example, in your 30s and 40s, you may want to adopt a higher risk tolerance as you have many more years before retirement. In your 50s, you should consider scaling back that risk factor as your time horizon to retirement is getting nearer. In your 60s, you should reevaluate your investments and risk tolerances, especially after retirement.

This is where the services of a Greenville financial advisor can assist you in working through these complexities of retirement planning to match your updated goals and priorities.

At Global View Investment Advisors, we use a holistic wealth management approach, meaning we look at all aspects of your financial situation and then determine if updates are needed. Think of it as getting a bird's-eye view of your financial health—this way, you can easily spot any inefficiencies or duplications in your financial plan.

Considering how often tax codes and investment limits on retirement accounts are updated, it’s easy to miss something. That's why having a team of Greenville CFP® professionals serving as your financial advocates can make a difference. 


Decluttering Your Portfolio: Strategies and Best Practices

Investment portfolios are often complicated, so taking the time to declutter and simplify them is essential. For instance, you may own different investments with similar holdings, causing duplication or overconcentration in one asset class. Or, you may have some products with high fees, impacting your net returns. Maybe you own some trendy investments, or you’re emotionally attached to a stock.

This is where the services of a fiduciary investment advisor can do the heavy lifting of analyzing your portfolio and then presenting you with a plan that addresses where your assets should be allocated to make your money work for you, not against you. Fiduciary investment advisors can work with you to diversify your risk while eliminating underperforming assets and complex, illiquid investments that are bogging down your portfolio performance. 


The Value of Working with Global View Investment Advisors

At Global View, we provide unbiased advisement and personalized strategies for comprehensive financial planning, including integrity, transparency, and a client-first approach that we highly value. 

With our ongoing guidance, monitoring, and regular updates, we specialize in keeping your retirement planning, investment management, tax optimization, and estate planning up to date so you can reach your retirement and financial goals.

Connect with us here to learn how we can help declutter your finances today.

Erin Milner

Written by Erin Milner

Erin works as a paraplanner alongside our Advisors in managing client relationships and special financial planning needs, including retirement transition, education, and estate planning. Erin began working in the financial advisory business upon graduating from the University of Georgia with a BS in Financial Planning in 2015. She competed in the National Financial Planning Student Challenge in 2014. Erin is a member of the Financial Planning Association. She volunteers at Habitat for Humanity as a Financial Assessor.

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