Simply put: if your management fees add up to more than 2% annually (or, if you're like more than 90% of investors and don't know how much you're paying your advisor), you might be overpaying for investment management services...and earning much less than you could on your investments. More importantly, actively managed portfolios tend to under-perform. Commissions can eat into returns, and there’s a chance a broker may mismanage your portfolio by making inefficient trades, buying and selling just to increase his/her commissions, or choosing investments that lead to a bonus.

If you're hoping to do some serious work on your financial picture, you may want to start by evaluating your financial advisor. Take the time to find out what you're paying to keep your money 'working for you'. (If you've ever wondered about the difference between a fee-only, fee-based, or commission-based financial planner, you can get a nice breakdown here from David John Marotta at Forbes. Or, read the latest Financial Freedom Playbook from Tony Robbins to find out what your average financial advisor doesn't want you to know.) 
 
Brio is a financial planning and small business strategies firm operating on a fee-for-service basis. That means we don't lock you into unnecessary contracts, or earn commissions for selling you investment or insurance products you don't need. Instead, we'll work with your budget, and develop shared expectations to ensure that our services fit your needs--before you hire us. Find out how Brio can help you.

Some of you out there might be asking: why bother with a financial planner?? How exactly will a plan benefit me in the long term? Or, you may be convinced that financial planning is only for wealthy people with 'something to gain/lose'. But the reality is that creating a financial plan helps you see the big picture and set long- and short-term life goals, which is a crucial step in mapping out your financial future. READ MORE​

Develop a business plan!
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​I meet with clients all the time who love their work, and are anxious to grow their hobby or passion into a paying profession. But, to make a business a success means knowing what success looks like for you, and how you'll get there. And that means you’ll need a plan. Here are some things to think about when developing one if you’re just starting out: 

1. Do Your Research
2. Identify a Location or Sales Channel
3. Assess Your Business Needs
4. Know What It Takes to Register Your Business and Get Any Licenses
5. Find Ways to Finance Your Business
6. Foster Professional Ties

READ MORE

A: Most likely, whether or not a loan provider will find you creditworthy.

To determine your borrowing power, lenders use guidelines called debt-to-income ratios. These are simply the percentage of your monthly gross income (your income before taxes) that is used to pay some combination of your monthly debts. There are generally three numbers you’ll need to remember when it comes to what these ratios mean in relation to your creditworthiness: 20%, 28%, and 36%. READ MORE

The most successful investors understand why time is often the most important variable to consider when developing a savings strategy. If you're just starting your career, now is the time to start putting away as much as you can to take advantage of compound interest. How much difference does compounding make? You'd be surprised! READ MORE

When it was time to buy our first house, my husband and I weren’t exactly prepared for all the surprises we’d encounter along the way. In fact, when we applied to be pre-approved, it was on a whim (let’s see if we can buy a house!), and I was half expecting not to be accepted. We were approved, and although we now had a specified purchase limit, and a certain, locked-in interest rate, once we got deeper into the process, we realized there was a lot that factored into our upcoming buying decision that wasn’t going to be dictated for us by the nice, official document from our mortgage provider. So here are some things I wish we would've known before jumping headfirst into home buying.  READ MORE

Use these 7 numbers to track your financial health, and manage progress toward your personal financial goals:

1. FICO (or other reliable credit) score
2. Monthly net cash flows
3. Consumer debt ratio
4. Net worth
5. Emergency fund
6. How much life/liability insurance you should have
7. Estimate of the amount you'll need at retirement    READ MORE

If you don't know your numbers, or don't know how to get started with moving them in the right direction, schedule a consultation with Brio, or explore the ways we can help.