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Published on: 09/05/2023 • 7 min read

Do I Need a Local Financial Advisor?

Choosing a financial advisor can bring up a lot of questions. How long have they been around? What portfolio sizes do they generally work with? What are their total assets under management? The list goes on and on. Sure, you need to make sure that you agree with their ideologies and tendencies, and that you get along well enough, but does it matter if you can’t visit their office? Do you need a local financial advisor?

The answer depends on your circumstances and needs. In a post-Pandemic world, you don’t need to be in the office to receive excellent service from a talented financial advisor. However, a local financial advisor can offer more white-glove service, clearer communication, and can help establish high levels of trust that allow advisor-client relationships to thrive. 

Whether you’re looking for a financial advisor in Houston or wealth management in Austin — looking for the best financial advisor The Woodlands has to offer or a trusted wealth manager in Sugar Land, you’ll find them all at Avidian Wealth Solutions. 

Is it worth paying for a financial advisor?

Is wealth management worth it? If you’re wondering if it makes sense for you to hire a financial advisor you may want to ask yourself a few questions.

  1. Is my financial situation complex?
    High-net-worth individuals often find themselves with complex financial situations because of a high amount of diverse assets. Generally, high-net-worth individuals don’t have the time required to manage their own wealth to the degree that it should be managed, and choose to work with a local financial planner who can help them protect and grow their wealth. 
  2. Am I approaching retirement?
    Even if you aren’t approaching retirement in the near term, a good financial advisor can help you plan for the present while keeping an eye toward the future so that you can be ready to retire when the time to retire comes. 
  3. Am I inheriting wealth?
    Inheritances often create complex situations that require wealth management and legal advice to successfully work through. 
  4. Do I want to create a lasting legacy?
    If you’re looking to grow your wealth and pass it on to future generations, you should consider working with a financial advisor who can help you align your current financial strategy with your long-term goals. 

Hiring a local financial advisor is often the right move for high-net-worth individuals, business owners, or families. They can help you protect and grow your wealth, reduce risk, and help ensure that you are taking advantage of every opportunity available. 

Should you have a local financial advisor?

You’ve decided to hire an advisor, but does it matter where that financial advisor is located? In many ways, yes. A local financial advisor can offer more personalized service, clearer communication, greater privacy, and a deeper understanding of local market nuances that can play a key role in decision-making. Their grasp of the local economic climate can help shape a financial strategy that is uniquely suited to your objectives. 

Furthermore, local advisors tend to have extensive networks within the local business community. This can be particularly beneficial for business owners, as it can lead to potential partnerships, collaborations, or other opportunities that wouldn’t be as accessible with a non-local advisor. Thus, the local insight and networking capacity of a local financial advisor can add significant value to their service.

At Avidian, we offer a boutique family office experience in Texas similar to that of a traditional single-family office but with less overhead and time required upfront. Our comprehensive and customized wealth management plans give our high-net-worth clients the availability to cost-effectively optimize their wealth and their lives — all without the mess of starting their own single-family office. 

What can a local financial advisor do for me?

Partnering with a local financial planner for your wealth management needs can have extensive benefits for both your finances and your quality of life. Avidian’s family office approach to financial planning means that we can include the following financial services when we talk about wealth management.

Investment management

Investment planning and management is at the heart of high-net-worth financial planning. At Avidian we offer strategic asset allocation and investment strategizing, alternative investing strategies, portfolio management, and investment advisory services. 

Because each client’s financial situation is unique, our investment management services take into consideration things like taxes, retirement, risk, and anything else that you can imagine to create a personalized plan that works toward specific goals. 

Retirement planning

Whether the big day is around the corner or 30 years down the road, retirement planning is an essential part of comprehensive and effective wealth management. In order to bridge the gap between where you are right now and where you want to be in the future, your financial advisor should be encouraging you to ask yourself questions like:

  • What are my sources of retirement income going to look like?
  • Is my investment strategy aligned with my retirement plan?
  • What does my actual monthly budget look like?
  • What are my plans in place for healthcare?
  • Is my estate set up with my retirement in mind?

If the answers to any of these questions are unclear, you may want to have a conversation with a local financial planner who has experience in retirement planning, so you can put plans in place that work to protect your way of life for years to come. 

Tax planning

Tax and wealth management are inseparable concepts that cannot be practiced effectively without the other. Nobody likes taxes; they aren’t fun — and sometimes, they aren’t fair. But good wealth management involves tax planning strategies that will allow you to maximize deductions and minimize overall tax burden, from your most recent payday all the way through your successful retirement.

Risk management

Risk should be calculated for your active investment portfolio, but it also projects into your future. It changes how you grow your wealth, how you treat your assets, and your horizons for almost all of your short- and long-term goals. 

Working with the best financial advisors that you possibly can, can not only help you mitigate risk, it can allow you to utilize strategies like taking on risk at the right times in an attempt to accelerate growth and leverage your position. 

Avidian uses an approach to risk that is conservative and technologically-informed, so that you have access to vital information about your position and your future prospects. 

Estate planning

What is a life lived without a legacy secured? In order to build and maintain multigenerational wealth, you need to put formal plans in place so that your wishes are carried out and your vision for your family’s future remains even after you’re gone. 

This can be difficult to do without the help of professionals across many fields because wills, trusts, asset transfers, and all other common pieces of an estate transfer, are notorious for their legal complexity and far-reaching implications. 

At Avidian, your estate team will be in communication with your retirement planners, tax planners, investment managers, and lawyers, so that you can rest assured that exceedingly complex proceedings involved with estate planning and transfer are taken care of. 

Looking for a local financial advisor to optimize your wealth? Call Avidian Wealth Solutions.

Whether you decide to hire a local financial advisor or go with someone remote, you should verify that they offer comprehensive solutions that will fit your financial needs, and that they have a track record of success. However, working with a local financial advisor comes with its own unique set of advantages — from the ability to pop in for an office visit if needed, to having someone in your corner who can serve as an advocate and partner through all phases of life. 

If you live in Texas, Avidian Wealth Solutions offers physical office locations in Houston, Austin, Sugar Land, and The Woodlands — all of which are staffed by experienced advisors and professionals who understand the complexities involved with high-net-worth wealth management.

Schedule a conversation with us today to find out how we optimize our clients’ wealth and simplify their lives. Together, we can help align your current financials with your long-term goals and work to ensure that every piece of your financial life is working in harmony. 

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