4 Reasons to Work With a Virtual Financial Advisor

If you’ve thought about getting help with your finances during 2020, you’re not alone.

This year has caused financial stress in thousands of households across the country.

While we can’t change the situation we’re given, we can control how we react to and approach it.

Financial planners are adapting to the world we live in and working to provide the best customer service and planning, all virtually.

Here are 4 benefits to working with a virtual financial planner:

Reduced costs

I’m going to reveal a little secret about the financial industry. The reason those companies you see on commercials with huge office spaces are usually more expensive than independent financial advisors is because they’re passing the costs of their business onto you.

They need to charge more because someone has to pay for the office building, supplies, salaries and bonuses and you know those CEOs aren’t going to take a pay cut.

When working with a virtual financial advisor, you’ll generally see a reduced cost because the advisor doesn’t have to spend as much to operate their business.

According to McKinsey & Co.'s 2015 report, a successful virtual model can deliver cost reductions of as much as 40% to 50%.

Also, most virtual advisors rely heavily on technology which reduces the use of paper and helps the environment.

There’s also other benefits of working with a tech-savvy advisor which leads me into my next point - efficiency.


If you’ve worked with a brick & mortar advisor before, you’ll instantly notice the increased efficiency of working with a virtual advisor.

Meetings are quicker and more tasks get completed.

It requires less time to get ready for a meeting.

You can meet from anywhere.

The list is endless.

When meeting with an advisor virtually it’s easier to get accounts set up because all paperwork can be completed online, at your convenience.

If we need to review company benefits or equity compensation packages, you’re able to share your screen with your advisor at the click of a button.

With in-person meetings, you probably aren’t able to provide all of this information immediately which means your advisor will assign some homework rather than addressing the issues within the meeting, and you’ll probably have to fight your way through rush hour traffic to meet with them again.

Virtual meetings provide great flexibility and allow us to get more done, quicker.


Gone are the days you’re limited to working with that advisor down the street whose office was in a strip mall.

Now with more advisors going virtual, you can work with the best of the best no matter where they are.

A lot of advisors have certain types of clients that they work best with and can provide the best service for.

One advisor might specialize in working with people just entering retirement while another advisor might work best with young professionals just getting started with their career.

Chances are that there’s an advisor that specializes in your situation and with the advancement of virtual services, you can work with them from anywhere.


Who wants to drive across town during rush hour traffic or take time off work to meet with their financial advisor?

If I had to guess, I would say just about nobody.

In fact, 45% 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.

A virtual financial planner is able to meet with you at convenient times and allows you to meet from the comfort of your home.

Rather than trying to schedule your day around meeting with an advisor and trying to find someone to watch after the kids, you can meet at your convenience.

The Bottom Line

A client-advisor relationship is built on trust and while it’s difficult to replace face-to-face meetings, the benefits of working with an advisor virtually far outweigh the negatives. You’re not limited to working with the few advisors in your area and can work with the best advisor for your situation, no matter where they are.

If you haven’t met with an advisor before, you may be surprised at how easy working with a virtual advisor really is.

Not ready to meet, but want to hear more from us?

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