On Money & More – Dec 2024/Jan 2025

“Someone’s sitting in the shade today because someone planted a tree a long time ago. A good financial advisor helps you plant that tree.” ~Warren Buffett

FOR OVER 10 YEARS, we have used this space to discuss a variety of money issues. From market updates, tax changes, political events, and financial planning topics, we have seemingly covered it all! But, one issue we have explicitly not addressed (and yes, also one that is admittedly self-serving) is whether to work with a financial advisor. Does a financial advisor make sense for you?

The financial advice industry has changed dramatically over the past few decades. Mostly gone are the days of the “stock broker,” who would call with a hot stock tip. Instead, a holistic approach is more common. What does a holistic advisor do? This is someone who looks at your complete financial picture and provides custom advice for you.

Yes, your investment portfolio is an important part of your advisory relationship. After all, Cutler started as a money manager over 45 years ago doing just that—picking dividend stocks as part of an investment strategy. But, beyond your portfolio construction, what other questions might be relevant for your financial goals? And what questions are you not asking that you should be?

As we travel through different phases of life, these questions change, and a financial advisor is there by your side to tackle each of them. Consider…

A young couple might be focused on saving for their first house. What type of mortgage should they use? What is the best way to save for college? A 529? If so, which one? How do you prioritize?

A business owner may want to set up a retirement plan for the company employees. Is there a fiduciary advisor that can help structure the plan for the owner’s goals? What should the business do with working capital? Does the owner need a sounding board for strategy business decisions with financial impacts? And what do the owner’s cash flows and tax strategies look like in retirement?

A retired couple that is just beginning to live off of a lifetime of savings. They may want help navigating the maze of Medicare. Or, they may want a gifting strategy for charitable organizations they support. Perhaps they need an investment portfolio designed to help build a lasting family legacy. As they age, having a financial partner and advocate who knows them may help protect their assets from bad actors.

Answering these questions is what we enjoy most about financial advice. For all of the readers of the Jacksonville Review, we want to wish you a very Merry Christmas. Thank you for reading for the past decade, and if you have questions that you need answered, we are here to help.

All opinions and data included in this commentary are as of November 11, 2024 and are subject to change without notice. The opinions and views expressed herein are of Cutler Investment Counsel, LLC and are not intended to be a forecast of future events, a guarantee of future results or individual investment advice including the asset allocation provided. Nothing herein should be construed as tax advice. This article is provided for informational purposes only and should not be considered a recommendation or solicitation to purchase or sell securities. This information should not be used as the sole basis to make any investment decision. The statistics have been obtained from sources believed to be reliable, but the accuracy and completeness of this information cannot be guaranteed. Investing involves risk, including the potential loss of principle. Neither Cutler Investment Counsel, LLC nor its information providers are responsible for any damages or losses arising from any use of this information.