Hiring an advisor can be a tricky (and expensive) endeavor. And the truth is, not everyone needs an ongoing annual relationship to stay on the right track and reach their goals. So much depends on a slew of individual factors, such as knowledge, risk tolerance, and timeline.
Still, even many who feel comfortable going the DIY route need pro help from time to time. Instead of an overhaul, they want a check-up. The great news is that many advisors offer a service like that. Instead of hitching your wagon to this person for decades, you can get the valuable input you need without feeling tethered forever.
Often, the people who come to me looking for a vetted fee-only financial advisor generally feel OK about their financial plan but still have some doubts about whether they’re on the right track. Those who are getting closer to retirement and have consistently saved, invested and managed their own money smartly, typically have enough to retire. But at some point, they start to ask this key question:
How do we know we won’t run out of money during our retirement?
That question tends to come up anytime there’s a big market shock, during a job change, a spike in inflation or right after tax season when a higher-than-expected tax bill is fresh in your mind.
What most people are looking for at that moment isn’t a whole new strategy or a complete overhaul. They want to step back and walk through everything—their investments, taxes, retirement accounts, real estate, Social Security strategies and understand how it all fits together. In other words, they want a thorough checkup.
A Financial Check Up Is Not An Ongoing Relationship With A Financial Advisor
A one-time evaluation doesn’t require a long-term commitment. It’s a clear, objective and very detailed deep dive into the full picture. The challenge is that most highly qualified fee-only financial advisors don’t offer this kind of one-time engagement. But some do.
Scott Van Den Berg, CFP®, AIF®, CEPA is an advisor in my Wealthramp vetted network who’s based in Austin, Texas. Scott described a couple he helped just a couple of weeks ago who had done a lot right. They had built a strong portfolio, stayed invested, and accumulated meaningful assets over time. On paper, everything looked solid. But they weren’t completely confident.
They wanted Scott to answer these questions:
- Are we taking too much risk with our 60/40 portfolio right now?
- If inflation rises, could both our stocks and bonds lose value at the same time?
- Are we overconcentrated in Mag Seven stocks?
- What are we missing that could hurt our future cash flows?
What Came Out Of That One-Time Review?
They did not need dramatic changes to their existing strategy. They needed clarity. With Scott’s guidance, the couple adjusted a few things—rebalanced some risk, refined how their investments would support future income, and they walked away with a much better understanding of where they stood. The impact of those tweaks far exceeded his fee. And that was a big relief.
That’s the value of a financial checkup. It’s better decisions, and just as important, better questions.
What I see over and over again is this: smart, capable people who don’t step back to ask enough questions right when it matters most.
Think about your own instincts. When markets drop, do you feel like pulling back—or buying more stocks while prices are low? When you hear about a new investment opportunity from a friend, do you feel like you might be missing something if you don’t act on it?
Those reactions matter more than people realize.
The Cost of Not Knowing
It’s just a fact that individual investors’ returns often fall short of stock market performance. There’s actually a meaningful gap and individuals leave money on the table. DALBAR, an investment research firm that studies investor behavior, has shown this for years—it amounts to a few percentage points annually. That doesn’t sound like a lot in one year, but over time it means hundreds of thousands of dollars you never capture.
That gap often happens when no one steps back and asks better questions.
- What’s driving this decision?
- What am I not considering?
- Who benefits if I say yes to this?
The Value of a Second Set of Eyes
A financial checkup like the one Scott provided is a chance to ask those questions with someone who knows what to look for—someone with fresh eyes who will tell you what you need to hear, not just what you want to hear.
And by the time you’re getting closer to retirement, that perspective becomes incredibly valuable. You’re not reacting at the moment. You’re making decisions with context and perspective.
And it really does come down to the questions you’re willing to ask.
Sometimes, one good conversation at the right time can change how you see everything.
