Why It's So Important to Review Your Portfolio Each Year With Your Financial Advisor

Why It's So Important to Review Your Portfolio Each Year With Your Financial Advisor

November 17, 2020

Every fall, before the start of the holiday season, I take time to review my financial goals, evaluate my yearly charitable donations, and consider my savings vs. spending strategy. Have you had the chance to review your finances this year?

Certainly, a lot can change in one year, and usually does! Which is why an annual review – a yearly financial checkup to help make sure you are still on track toward reaching your goals- is so important.

Have you had material changes in your personal situation?

Have you gotten married or divorced, had kids, bought a house, started a new job or got a raise? This is the time to adjust to keep you on track.

Have your financial goals changed?   

Do you have plans to remodel your existing home or to purchase a new home? Fund a child’s education? Change your retirement date? All of these may require changes to your current financial plan or to develop a new one.

When was the last time you reviewed your beneficiaries?

When was the last time you checked the beneficiary designations on your IRA, your life insurance policy, or your brokerage account?

Does your current asset allocation meet your investment needs?

Rebalancing brings a portfolio back to its intended investment mix by reallocating your assets and reducing what may be a “top heavy” asset class. It can effectively help manage your investment risk, add discipline, and help you stay focused on your investment goals.

Is it time to reevaluate your life insurance?

We want to make sure that your life insurance program fits your current needs. At Prinvest Advisors, we work with companies across the US to obtain competitive life insurance rates. 

Please call us today to schedule your annual review!


This is meant for educational purposes only.  It should not be considered investment advice, nor does it constitute a recommendation to take a particular course of action. Asset allocation is an investment strategy that can help manage risk within your portfolio, but it does not guarantee profits or protect against loss in declining markets. Keep in mind that rebalancing may have tax consequences and transaction costs associated with this strategy. Please consult with your financial and tax advisor regarding your personal situation.  (11/20)