Recent Posts

Getting Your Financial House in Order

While investing is the focal point to achieving and maintaining long term financial security, investing should not be viewed in isolation of other important financial matters.

For many individuals and families, financial planning can be daunting because it is complex and requires dealing with multiple issues related to lifestyle, family obligations, and legacy. Planning ahead can provide a simple blueprint with key steps to the next stage of your life.

Whether you do-it-yourself or work with an experienced financial adviser, with careful planning, you can move steadily closer to attaining your financial goals.

Getting Your Financial House in Order

1. Establishing and defining the client-planner relationship - The financial adviser explains or documents the services to be provided and defines his or her responsibilities along with the responsibilities of the client. The adviser explains how he or she will be paid and by whom. The adviser and client should agree on how long the relationship will last and on how decisions will be made.

2. Gathering client data and determining goals and expectations - The financial adviser asks about the client's financial situation, personal and financial goals and attitude about risk. The adviser gathers all necessary documents at this stage before giving advice.

3. Analyzing and evaluating the client's financial status - The financial adviser analyzes client information to assess his or her current situation and determine what must be done to achieve the client's goals. Depending on the services requested, this assessment could include analyzing the client's assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.

4. Developing and presenting the financial planning recommendations and/or alternatives - The financial adviser offers financial planning recommendations that address the client's goals, based on the information the client provided. The adviser reviews the recommendations with the client to allow the client to make informed decisions. The adviser listens to client concerns and revises recommendations as appropriate.

5. Implementing the financial planning recommendations - The adviser and client agree on how recommendations will be carried out. The adviser may carry out the recommendations for the client or serve as a "coach,” coordinating the process with the client and other professionals such as attorneys or stockbrokers.

6. Monitoring the financial planning recommendations - The client and financial adviser agree upon who will monitor the client's progress toward goals. If the adviser is involved, he or she should report to the client periodically to review the situation and adjust recommendations as needed.

Finding a competent financial adviser. What constitutes the right of kind of adviser for you depends on your needs. If you want to be assured of getting objective advice, use a fee only adviser -- but be prepared to pay for the service. A fee only adviser usually, but not always, is in the business solely to provide you with independent advice. That's often what you need, particularly if you use a financial adviser infrequently. That doesn't mean a planner who earns commissions should be avoided, so long as you understand that there may be a conflict of interest. Look around; there are many excellent financial advisers – both fee-based and commission – in your community.

If the relationship is not working out. It is amazing how many people dislike or distrust their advisers, particularly their investment advisers, yet continue to do business with them. If you are not satisfied with one of your advisers, it may be because you have not taken an active role in the relationship. First, try to resolve the problem, but if it persists, do not hesitate to make a change.

Financial Plan | Personalized Report | Financial Advisor - Minneapolis

Barrington's Financial Blog

About   |    Our Services   |    Financial Planning   |    Employer Retirement Plans   |    Contact

Litigation Support   |    Expert Witness   |    Pro Bono Services   |    Five Star Wealth Manager   |    Careers       

Barrington Capital Management, Inc.

3800 American Blvd West   |   Suite 1500

Bloomington, MN  55431

952-835-1000   |    800-741-0704


Barrington Capital Management, Inc. only conducts business in states and jurisdictions where it is registered or where an exemption from registration exists. This site and its contents do not constitute investment advice or a solicitation to sell securities. Past performance is not indicative of future results. This website is for informational purposes only and Barrington Capital Management, Inc. reserves the right to modify it at any time without notice. Copies of Barrington Capital Management Inc.’s Form ADV Part 2 are available upon request. Images and photographs are included for the sole purpose of visually enhancing the website. No photographs are of current or former clients and they should not be construed as an endorsement or testimonial from any of the persons in the photograph.

All materials used on this site, including all images, are copyrighted and are protected worldwide by copyright laws and treaty provisions. They may not be copied, reproduced, modified, published, uploaded, posted, transmitted, or distributed in any way, without Barrington Capital Management Inc.'s prior written permission.

Neither Barrington Capital Management, Inc., nor any of their Investment Adviser Representatives, provide tax or legal advice. Tax and legal advice should only be obtained from a qualified professional. All written content on this site is for informational purposes only. All information and ideas should be discussed in detail with an advisor prior to implementation. Examples from our news feeds, blogs or articles do not take into consideration commissions, investment management fees, miscellaneous transaction fees, tax considerations, or margin requirements, which are factors that may significantly affect the economic consequences of a given strategy. Investors should review transaction costs, margin requirements and tax considerations with their financial or tax advisor before entering into any investment or financial planning strategy. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness.

Investment Advisory services are offered by Barrington Capital Management, Inc., a Registered Investment Adviser in the states of Minnesota and Texas. Barrington Capital Management, Inc. may utilize the services of First Ascent Asset Management, LLC for certain investment portfolios. Insurance products and services are also offered through Barrington Capital Management, Inc.

Disclosure: Barrington Capital Management, Inc. is not a law firm. Robert D. Lawson and his associates are not practicing attorneys. The scope of any activities performed by Robert D. Lawson, subcontractors or employees of Barrington Capital Management, Inc. is limited to litigation consulting and litigation support.​

By using this website, you agree to our Terms of Service and Privacy Policy. View our Business Continuity Plan.

Copyright © 2021 Barrington Capital Management, Inc.

A Registered Investment Adviser  |  All Rights Reserved