What Does a Financial Advisor Do?


By Kelley Caponigro
Assistant to the Chairman & CEO

If you are not sure what a financial advisor does, you are not alone. In fact, a recent study found that more than one quarter of the population does not understand what a financial advisor does.1

The study uncovered the following statistics:


The quote below by Greg S. Reid unintentionally helps to shed some light on what a financial advisor does for their clients:

“A dream written down with a date becomes a goal.
A goal broken down into steps becomes a plan.
A plan backed by action makes your dreams come true.”

It’s clear that some people understand how financial advisors can help with matters like budgeting, investing, retirement planning, estate planning, and even education planning for their children and grandchildren. However, at the core of an advisor’s responsibilities is the art of uncovering a client’s future goals and dreams.

Advisors help clients to envision their future, articulate their dreams, and then create a roadmap to help make those dreams a reality. This includes writing down the dreams and assigning a date to them, thereby creating a goal. The advisor then divides the goal into steps to create a plan. Lastly, the advisor helps put the plan into action. They ensure the client follows the plan, and they even make adjustments as needed along the route of the plan to ensure the client’s dreams truly do come to fruition.

It’s also an advisor’s duty to expect the unexpected. Whether you suddenly have to cope with aging parents, a serious illness, or a divorce, an advisor should be able to reroute your roadmap to fit unforeseen issues.

Although over 40% of people surveyed feel that an advisor would not be able to help them, research by Vanguard has actually quantified the value of a financial advisor, maintaining that advisors who follow best practices can add about 3% to your portfolio returns over time.2 If you’re still unsure about what an advisor does, consider reading a few of our client stories below to see how we have helped our clients work through very specific life issues.

The end goal of a financial advisor is simply to build a trusting and mutually-beneficial relationship with their clients. To help achieve the life you want, advisors must understand your goals, your dreams for the future, and prepare for everything life might throw your way.

R.W. Rogé & Company, Inc. helps clients plan, achieve and live the life they want. To learn more about how we do this, click here. To discuss your financial future with a knowledgeable Senior Wealth Advisor, contact us at 631.218.0077 or at info@rwroge.com.


2 https://www.prenticewealth.com/wp-content/uploads/2015/03/Advisors-Alpha-The-added-value-of-financial-advisors.pdf

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