Managing wealth has often been compared to managing health. When it comes to physical well-being, indicators like blood tests, BMI, and heart rate contribute to understanding one’s health status. With each test, your doctor notes what numbers are outside of the accepted range. The health checkup process also includes candid discussions about priorities, an exchange of personal information, and the formulation of a course of action that can help you achieve the desired health objectives.

The foundation for assessing a client’s financial well-being is also based on numbers. Like a physical, a financial assessment involves examining a client’s present situation to gauge its condition and see if adjustments are necessary to ensure everything remains aligned with predefined goals. While periodic wellness checks improve your chance to live a healthier and longer life, occasional financial evaluations serve to maintain a client’s trajectory toward their financial milestones.

People usually want to keep both their health and their finances on track to meet their long-term objectives. Obtaining a financial assessment allows the advisor to provide precise insights into a client’s current position while also providing them with clear directions toward meeting their goals. It helps formulate financial strategies that the client can pursue.

Health screenings improve the chance for each of us to live healthier. And like a physical, occasional financial assessments help us stay on top of our finances and lead more fulfilling and stress-free lives.