Three Ways Advisor Access Can Help You Achieve Your Money Goals

Everyone’s money adventure looks a little different. You may prefer to go it alone on your quest for financial success. Or you may enjoy talking about your money goals with others, seeking out reliable mentors and advisors along the way.

For those of you who are keen to sound out your financial questions and goals with another person, we’ve got some excellent news for you. A recent study by Ohio State University shows that sharing your goals with someone whose opinion you value leads to a higher chance of actually accomplishing them.

That’s where PocketSmith’s shared access feature - also known as Advisor Access - can help. You can invite someone to share access to your PocketSmith account. That means you can both manage and perform actions on the one account whilst having separate logins - none of that shared password business.

Here are three ways that giving Advisor Access to a trusted person can help you achieve your money goals:

Have better conversations with your partner about money

It’s a simple truth - couples who talk about money with each other have stronger relationships. While the research supports this, it’s still not the easiest - or fun - conversation to have. So much easier to just Netflix and chill, right?

By giving your partner or spouse access to your household’s PocketSmith account, you’re giving them full permissions - they can see all the same things that you can. It means there’s a better chance of you both being on the same page when it comes to having those money conversations.

You can even create separate dashboards to help communicate better with different family members. Is your partner a visual learner? Or do they prefer to see the big picture rather than get bogged down in detail? Make a bespoke dashboard just for them, and keep them interested in your joint money journey!

Track your family’s money goals, together

Whether you’re looking at controlling spending, getting out of debt, or achieving financial independence, sharing access to your PocketSmith account with your partner will keep you accountable to your goals, and help you track your progress better.

The key, as Ruth The Happy Saver says in A Guide to Talking to Your Partner About Money, is to think and work as a team, even if you have some goals that are different to each other. Just talk them through and compromise, reach agreement and make a plan.

Help an expert help you

If you need a hand from a financial advisor or accountant with your finances, then giving them comprehensive insight into your financial life is key to them being able to help you.

One of the roles of a financial advisor is to work with you to get a full picture of your financial state, including your assets, liabilities, income and expenses. By giving them shared access to your PocketSmith account, they’ll have the information they need to help you plan ahead. They’ll also be able to better see where the gaps are, if any.

Remember, you can revoke shared access to your account at any time. So whether you prefer to go it alone, or invite someone along on your journey, the security of your data and personal information is always of utmost importance to us.