You’re ready to get organized, grow your money, and jumpstart big goals like retirement or that family vacation you’ve been wanting. As you prepare to meet with a financial advisor, you may be unsure of what to bring or say. Being prepared can help you get more out of the meeting and make faster progress with your finances. Here’s what to know before your first appointment.

What to expect when meeting with a financial advisor

Your advisor will start by asking questions to get to know you better and understand what is important to you. They will inquire about various aspects of your life, such as how many children you have or plan to have, what you and your spouse do for a living, your financial goals, and how you are currently managing your money. This discussion may feel uncomfortable, especially if you have debts like student loans or credit card debt, or if you feel you could be doing better financially. However, it’s important to remember that your advisor is not there to judge you; their goal is to help you achieve your financial objectives. While your advisor will guide the conversation, preparing in advance can make the meeting much more productive.

What to bring when you meet with an advisor

First, bring your significant other, if you have one, as both of you should be involved in this discussion. Also, bring something to take notes with in case there are to-do items or important points you want to remember. As for the paperwork to bring, here are a few helpful items:

• A budget, if you have one (or credit or debit card statements to show trends in spending)
• Pay stubs
• Statements/details about any investments
• Any insurance policies you have
• An employer benefits statement
• Tax returns for the past two or three years
• Statements/details on any debt you owe (mortgages, credit cards, student loans, business loans, personal loans, etc.)
• Information on any trust funds you may be a beneficiary of

If you have had a financial plan in the past, please bring it along so your advisor can better understand your financial situation. It’s also common for people to overlook their benefits statement, but it’s important not to forget this essential document. Your benefits statement provides your advisor with a comprehensive view of your total compensation, which includes items like incentive pay and stock options. Additionally, it shows the amount of disability and life insurance coverage you receive from your employer.

Your membership with the University of Hawai`i FCU gives you direct access to the people and tools necessary to help you create, manage, and work toward growing your wealth. We are proud to be working with LPL Financial Advisors to provide investment and financial planning assistance. Click here to learn more about our Investment Services and to schedule a FREE consultation appointment.