Photo of Eric R. Ebbert, CFP®, MBA, CEO Eric R. Ebbert, CFP®, MBA, CEO Sep 09, 2022

Financial planning can be beneficial for everyone, including attorneys. If you are an attorney, there are some unique strategies that you can use to maximize your investment portfolio. Whether you’re retiring soon or you’ve just started your career as an attorney, you should work with a reputable financial planning firm. If you’re looking to protect and grow your wealth, we’ve got some strategies you should include in your financial plan.

What are some strategies that attorneys should be using to maximize their investment portfolios?

  • Exchange-traded funds — Exchange-traded funds (ETFs) allow several investors to group their funds into a shared investment. An ETF operates like a mutual fund but is slightly different. Exchange-traded funds may be a better choice for some over mutual funds, because they are more liquid and even tax efficient. These are usually handled by fund managers, who are responsible for where pooled investments are made and can either track an index or have a more active strategy. 
  • Index funds — Index funds are a great investment option for attorneys because there is generally diversification and lower fees than many alternatives. This makes it a good long-term investment. A few examples of indexes that funds can track include the S&P 500 index, the Wilshire Total Market index and the Russell 2000 index.
  • Asset allocation — Coming up with an asset allocation strategy with a CERTIFIED FINANCIAL PLANNER™ professional is one good way to ensure that your investment portfolio is diversified. Asset allocation is important for you to meet your goals and make sure enough risk is present in your portfolio.

Talk to a ProVise CFP® professional about financial planning for attorneys

At ProVise Management Group, our CERTIFIED FINANCIAL PLANNER™ professionals can get to know you and your current financial circumstances, goals, risk tolerance, and personal values to help you develop a plan that works for you. We can also create a written plan for you at a fiduciary standard of care. All our written plans come with an unconditional money-back guarantee. If you are unhappy with your written plan, you can return it to us, and we will refund 100% of the fee paid.

Are you ready to talk to a professional about financial planning for attorneys? Contact ProVise today to schedule a complimentary consultation.