A strong financial team should consist of four people; An attorney, a financial planner, a CPA, and you. An attorney will assist with legal matters concerning the generation of wills, trusts, and other advanced planning documents; your financial planner helps advise and manage your investments; and a CPA advises on tax planning and filing tax returns. But you are the final and integral piece of the puzzle. Making sure that each of these professionals is working towards your ultimate goal can only be met when you have a seat at the proverbial table.
Putting each these team members to work engaging in your financial future is the obvious first step, but getting these professionals collaborating is the key to optimizing each party’s ability. It’s not enough that each professional tells you what they are doing, they need to be talking to each other too.
When you put the onus on yourself to pass information between your team, you use up a lot of your own time and may be wasting an opportunity for a better overall outcome. This is because each of these professionals brings something unique to the table. They are colleagues, not competitors. Getting these people talking to each other both ensures that everyone fully understands your goals, but also ensures that your goals are met with the precision of a well oiled machine.