Finding a Wealth Advisor at Any Age

As your life evolves, so will your financial needs and goals. Luckily, a wealth advisor can help you tailor a financial plan to help you through every milestone event, career move or unexpected development you’ll face in the future.

According to the 2015 Regions Women and Wealth Study, 44 percent of women report being solely responsible for household financial decisions, compared with 35 percent of men. 

However, the same study shows a “confidence gap” between the sexes when it comes to handling finances. Men rated their overall confidence in handling finances higher (6.2 on a seven-point confidence scale) than women (5.86). Women under the age of 50 rated their confidence even lower (5.61). The largest confidence gap was in regard to investing, in which women respondents showed a confidence level of 4.75 compared to 5.42 for men.

To help increase your confidence in making financial decisions, consider working with a wealth advisor. Don’t count on simply “setting and forgetting” your plan. As your needs change throughout your life, you need an advisor who can tailor a financial strategy to help you in every phase. Here’s how a wealth advisor can help you build up your finances, no matter what career or life phase you’re in. 

Early Career

As you navigate the first decade of your career, you’re also building a credit history, learning how to budget, and starting to participate in a retirement savings plan. “When you are fresh out of college, your priority may be to obtain a stable placement within the workforce just to meet your basic needs and wants,” says Sherell Jefferson, Vice President and Wealth Advisor for Regions Private Wealth Management in Dallas.

At some point during this phase, you may be considering marriage, having children, or buying your first home. This is a good time to seek out a wealth advisor who can guide you in setting financial goals and cultivating good money management practices to help you achieve them.

For instance, Jefferson recommends that young adults with modest incomes save at least six times their monthly expenses. She also encourages them to save as much in their workplace retirement plan as their employer will match.


By the time you’re into your 40s and 50s, you’re in the sandwich generation, often caught between the demands of raising children and caring for aging parents. Having a wealth advisor can help you modify your financial plan to meet these challenges.

For instance, it may be time to review and adjust your debt, Jefferson says. Start by reviewing the interest rates and payment amounts for each of your debts, and consider consolidating or refinancing in order to save on interest or lower your monthly payment. If you expect t o be involved in caregiving for an elderly relative, your wealth advisor may be able to help figure out options like home health care or assisted living facilities.

Near Retirement

When you’re in your 60s and counting down to retirement, it’s essential to have a handle on your retirement savings and other potential sources of retirement income, including Social Security. If you’ve found yourself with an empty nest, Jefferson suggests turning those reduced expenses around the house into increased savings. You may also be considering long-term care, estate planning or downsizing to a smaller home in a different place from where you live now.

At this stage, a wealth advisor can help you assess whether you will have enough money for the retirement you want and what you can do to fill any financial gaps. 

“Do some homework to make sure any advisor you’re working with has the appropriate professional credentials and that the institution they work for hasn’t had any regulatory or licensing problems,” Jefferson suggests. “Ask about their fee structure, and see if the advisor’s investment philosophy is compatible with your level of risk tolerance.” 

“The worst scenario is to communicate your feelings regarding your risk and not have them taken into consideration,” Jefferson says. “Great wealth advisors strive to understand your family’s financial goals and priorities.”


This information is general in nature and is not intended to be legal, tax, or financial advice. Although Regions believes this information to be accurate, it cannot ensure that it will remain up to date. Statements or opinions of individuals referenced herein are their own—not Regions'. Consult an appropriate professional concerning your specific situation and for current tax rules. Regions, the Regions logo, and the LifeGreen bike are registered trademarks of Regions Bank. The LifeGreen color is a trademark of Regions Bank.