Who should be on your financial team?

Financial Team PDF

We all have people we turn to for advice, but when it comes to your money, are you asking the right people? A financial team isn’t only for wealthy people or those close to retirement, it can benefit everyone. No matter where you are in life, having the right mix of trusted experts can help you make smarter decisions, avoid costly mistakes, and feel more confident about your future.

What is a Financial Team?

What do you mean by a “financial team”? Isn’t that just for wealthy people?
That’s a common misconception. A financial team isn’t just for people with a lot of money—it’s for anyone who wants to make smarter decisions with what they have. Think of it like this: you don’t need to be a professional athlete to benefit from a coach. Your financial team is simply a group of trusted individuals, professionals, or even resources that help you make better decisions about saving, spending, borrowing, and planning for the future. 

Key People to Include on Your Financial Team

Who are the core people everyone should consider having?
There are a few key players I’d recommend for most people:

• A primary financial institution – like a credit union or bank you trust for everyday banking and guidance
• A financial advisor – especially as your savings grow or your goals get more complex
• A tax professional – to help you keep more of what you earn and avoid surprises
• An insurance agent – to protect what you’re building

Not everyone needs all of these right away, but over time, these roles become more important as your life and finances evolve. 

Build Your Financial Team Early

When should someone start building this team?
You should start building a team earlier than you think. You don’t need to wait until you’re buying a house or getting ready to retire. Even in your 20s or 30s, having a go-to financial institution and someone you can ask questions to is huge. Then as life changes—maybe you’re getting married, having kids, starting a business—that’s when you start adding more specialized experts. The key is: don’t wait until there’s a problem. Build the team before you need them. FORUM offers SafisLife, a subscription based financial coaching service. Learn more here.

Choosing the Right Financial Help

What’s the biggest mistake people make when choosing financial help?
The biggest mistake is either trying to do everything alone—or choosing people based only on convenience instead of trust.

You want people who:

• Take time to explain things clearly
• Understand your goals
• And are willing to build a relationship, not just sell a product

Don’t be afraid to ask questions or even get a second opinion. The right team should make you feel more confident, not more confused.

If you're looking for an advisor, FORUM Private Client Group is an SEC Registered Investment Adviser that provides wealth management, investment advisory, and financial planning to individuals based on their unique financial goals. Find out more.