Starting a new job or moving to a new city can motivate you to examine your financial strategy more closely.
It’s common to stay with the same advisor simply because it feels familiar. But when your life changes, it’s worth asking whether that relationship still fits. If the energy’s faded or the advice hasn’t evolved with your situation, it might be time for a refresh.
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Quality advisors don’t set a plan and forget it. They check in regularly, ask the right questions, and adjust your strategy based on what’s happening in your life. A major move, a new job, or a promotion is more than a milestone. It’s a chance to realign your financial plan with where you are and where you’re headed.
In fact, 45 percent of U.S. adults aged 40 to 59 say they’d rather visit the dentist than make an appointment with a financial advisor, according to an AARP survey. But just like a dentist keeps your teeth clean, the right advisor can help you develop your income strategy in retirement.
Summer is peak season for big life transitions. Nearly 60 percent of all U.S. moves happen between May and August. School schedules, lease cycles, and weather play a role, but it’s also when people change jobs, accept promotions, and relocate for new opportunities. If that’s you, it’s a smart time to reevaluate the financial side of your move.
That’s why we always carve out time in the summer to meet with prospective clients. These next few months are an ideal window to check in with your advisor or start a conversation with a new one. There’s still time to make meaningful adjustments before year-end, and the pace of summer often gives you the space to think more clearly about what’s next.
Yet, despite these transitions, many people stick with the same financial advisor, or don’t have one at all. More than six in 10 Americans say their financial planning needs improvement, yet only a third work with an advisor, according to the Northwestern Mutual 2022 Planning & Progress Study.
If your next big move involves relocating to a new city, it might be time to meet with an advisor based in your new market. That local perspective can help you stay connected and build a plan that reflects your new environment.
If you’ve recently moved, your current advisor may not be familiar with your new state’s tax landscape, retirement plan rules, or the local opportunities that might benefit you. A local advisor can offer context on regional markets and help you think through alternative investments, like real estate, that may not be on your radar but should be.
But remember: convenient geography, while definitely helpful, isn’t everything. The best advisors know how to maintain strong, personal relationships—even at a distance. For example, whether I’m based in the same city as my client or not, I prioritize regular check-ins and real conversations that keep their retirement strategy aligned with their lives.
If you’ve changed jobs or received a promotion, it’s a wise time to look closely at your retirement accounts. Too often, people leave an old 401(k) untouched, missing out on better investment options, lower fees, or a more strategic allocation. It’s one of the most common (and costly) mistakes we see. Most people say the same thing when they finally address it: I wish I had done this sooner.
When you relocate for a new job or step up into a promotion, it’s a natural time to reevaluate your financial strategy. A pay increase often brings added complexity to your retirement strategy, and with that, the need for sharper, more proactive guidance.
One of the most common frustrations we hear from new clients is that their previous advisor’s advice didn’t evolve with their career. The plan stayed the same, even as their life changed.
That’s what we call stale guidance. And it can quietly cost you, especially when you are planning to generate income in retirement.
If you’ve made a significant move, it’s worth asking whether your current advisor is still the right fit. Face-to-face meetings (whether local or virtual) often uncover missed opportunities. A good advisor is constantly revisiting your strategy, checking in, and making adjustments, not years later, but in the moment.
It comes down to who your advisor is and how they work with you. Do they ask the right questions? Do they respond when life changes? Are they invested in your outcomes?
If not, it might be time for a different conversation. [Check out this article I wrote about the five questions everyone should ask their investment advisor.]
Transitions are often when planning gaps show up. A legacy relationship may have worked for a past version of you, but not your current situation.
A fresh set of eyes can help you identify them before they become costly.
You don’t have to make a switch right away. But it’s wise to ask: Is your current advisor keeping up with the pace of your life? Or are they just keeping the lights on?
If you’re unsure, it might be time to talk to someone new. If you are new to The Jeffrey Group, we’re ready to take your call HERE.