Does Your Financial Plan Need a Second Opinion?

Does Your Financial Plan Need a Second Opinion?






















Think back to your last major decision, whether it was a career move, a relocation, a medical treatment, or something else entirely. Did you make a quick choice without exploring your options, or did you conduct research and gather as much information as possible? Did you approach the decision-making process on your own, or did you look to trusted mentors, family, friends, or even the Internet to help?


Do you treat your financial decisions the same way? Creating and customizing a financial plan is a significant decision that involves building up the security and confidence you need to pursue your goals, retire, and live the life you desire. It’s just as worthwhile to get a second opinion on your finances as it is on anything else.


Why Do I Need a Second Opinion?

According to an article in Forbes, while Americans today are quite confident about their retirement and financial future, in most cases they are not truly prepared. Since we want you to be both confident and prepared, here are three reasons to get a second opinion and let us guide you as you work towards your goals:

1. It Solidifies Your Strategy 

If multiple professionals offer similar advice independent of each other, it gives you confidence that your plan is appropriate for your goals. If they contradict each other, they can each explain why they’re making a particular recommendation and help you better understand your options.

2. It Eliminates Doubt

Some investment professionals may promote certain products or investments over others due to the commission they are paid. Luckily, the new Department of Labor rules require that anyone advising you on a retirement account provide unbiased advice. Getting the opinion of an independent, objective advisor can help eliminate doubt about your plan.

3. It Gives You New Ideas

Using the "two heads are better than one" approach, more information is always better than less, and another set of eyes can be invaluable. Even if you think your plan is set, getting a second opinion could fuel creativity and open your eyes to other options as well as help you avoid common financial pitfalls.


Can a Second Opinion Really Make a Difference?

NerdWallet, the blog, advocates for an annual spring cleaning of the performance of investments with your financial advisor. This way, you may be able to adjust tax withholding in order to have more cash on hand, ramp up retirement contributions if possible, and rebalance your portfolio if needed. This type of regular review helps you communicate with your advisor at least once a year and also helps convey any new goals you have or life changes that have occurred. It never hurts to take a second look to find gaps in your plan or opportunities to make your money work harder for you.


How Do I Know if My Financial Plan is Right for Me?

Financial planning can be complicated and overwhelming. In order to make the best decisions possible and create a financial plan that helps you feel secure and confident, it is important to work with a qualified and experienced financial professional.


Here at The Harvey Group, we would love to sit down with you and find out how we can enhance your life and pursue financial security. We will walk you through our wealth strategy modules, including risk management and retirement planning, and create a long-term plan customized to your needs. If you are ready for your second opinion, book an appointment online!

About Steve

Steve Harvey is a financial advisor with more than 34 years of industry experience. He is also the founder of The Harvey Group, an independent investment consulting firm based in Alexandria, Virginia. He works closely with middle and upper-middle-class families to help them address their critical financial planning challenges, from investing with confidence to planning for retirement. Based in the Washington DC area, he works with clients throughout Virginia and Maryland. Learn more by connecting with Steve on LinkedIn or visiting