9 Things You Should Bring With You to Your First Meeting With a Financial Planner

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So you’re finally ready to take the power of your money to the next level and hire a financial planner. Congrats! These professionals will help guide you through your working years as well as in retirement to keep you on track with your goals and ensure your money is doing all that it can to grow.

These experts need to know a lot about your life to get you started on your path to financial security. As such, you need to be prepared to provide quite a lot of information. What exactly should you bring with you to your first meeting with a financial planner? Let’s explore.

Your ID

Have two forms of identification on hand to show to your financial planner so they can verify your identity.

Financial Statements 

When you first visit with a financial planner (and likely further down the road), you’ll need to bring in all your up-to-date financial statements. This includes recent statements for both any and all types of bank accounts, retirement plans, investments and assets.

Social Security Statement

It doesn’t matter how old you are or whether you’re collecting benefits. You need to provide a copy of your Social Security statement.

A Detailed Breakdown of Any Debt  

Have the latest statements regarding any outstanding debts readily available. This could involve quite a few documents, especially if you have some or most of the below types of debt.

• Mortgage debt 
• Student loan debt (for you or your children)
• Credit card debt
• Auto loan debt 
• Business debt 
• Medical debt 
• Personal loan debt
• Any other loan debt 

Tax Returns

Be sure to have your most recent federal and state tax returns (aim for the last three years’ worth) ready to show your financial planner.

Pay Stubs

Share your latest paystubs. If you’re self-employed and don’t have pay stubs, disclose that information right away. 

Insurance Policy Information 

Do you have life insurance? Health insurance? Homeowners insurance? Renters insurance? You’ll need to be ready to show documentation of each and every insurance policy you have, along with up-to-date policy statements.

Your Monthly Budget

Some might think this is unnecessary, but it’s a very good idea to bring with you a copy of your monthly budget. Your financial planner will be dedicated to gaining insights into your financial life and how to optimize it. Giving them a look into your spending system helps them understand how you operate and what you could be doing differently to save. 

A List of Your Goals  

Last but not least is a list of your financial goals. Part of the reason you’re going to a financial planner is so you can become the best financial version of yourself. Be ready to talk about what you want, what you need, and who you really want to be.

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