Top Fincancial Questions to Discuss with Your New Legal Client

27 Aug

Top Fincancial Questions to Discuss with Your New Legal Client


Financial questions that you can expect from your advisor

Everyone wants their financial advisor to be guiding them through their troubles, and hopefully to financial independence. However, how can you be sure that the person you are trusting with your financial portfolio is truly going to be doing the job efficiently and correctly? This article will be exploring what you should be looking for when speaking to an advisor and what questions should be presented to you. Additionally, this article will offer an inside look at some helpful financial management systems such as legal billing softwares, and law firm billing software.

What to Expect


An important element to keep in mind is that not all financial advisors will be the same. Everyone will have their own style and their own methods of asking you questions to improve your savings. In comparison, There are such baseline questions that are crucial to discuss. Every financial manager will be interested in what kind of savings you have and what steps you have already taken towards a better portfolio. An example of some of these questions will go as follows.

Are you protecting your income?

Do you have a plan?

Have you given thought to how your financial plan could impinge on your family?

How are you managing your taxes?

What asset do you have?Are your assets protected?

Do you have a plan for retirement?

How to Prepare

Meeting with a financial planner can be nerve-wracking, trusting another person with your life savings can be an incredibly difficult obstacle to overcome. In order to meet with your financial advisor, there are certain steps that you must take in order to have your first successful meeting. More than 75% of people have no idea, or do not want to admit their own financial weaknesses. Hence, possibly millions of people will struggle with the same issues for years out of result of the fact that they do not realize the mistakes they are making. For that reason, understanding your own financial vulnerabilities will aid you in working with a planner. After examining your own flaws, work on building statements for all your accounts. In all likelihood, a financial planner will ask to examine your savings for accounts such as your 401K, saving accounts and investing accounts.

Legal Billing Software

Because of the modern movement of legal billing software, receiving notices as well as making payments has never been easier.  Most of this legal billing software is designed to track the hours of employees, send invoices, and track billings. In the same sense law firm billing software systems such as Ebillity, Freshbooks and CosmoLex can help attorneys appropriately coordinate their billing systems.

New Developments in Finance

Out of result of a large case load that couldn’t be handled in due time, the FairFax Circuit Court established the differentiated case tracking program. Currently, FairFax serves an astounding number of customers, with over 800,000 clients there was an absolute need for this system. Contrary to the old school system of attorneys and litigants scheduling the times for when a case would be brought to court. Before these systems were launched, the courts would hire more judges in order to keep up with a heavy load of work. However, with this new branch of technology, the justice system is now scheduled accordingly and efficiently. Additionally, the system takes a massive responsibility off of the director of state courts. The results of this program can be observed in the early 90s’. In 1992 over 53% of all cases were managed by the tracking program. During this time the company proved to be beneficial for over 30,000 people. The Wrap Up

In conclusion, it is a wise choice to educate yourself on the habits of financial advisors, know your own statements, and always come prepared for any question. Employing a financial advisor can save you from the turbulences of paying unnecessary taxes and they will help you stay on track for your long-term goals. The financial world is constantly making incredible progress. With systems such as the tracking program, paying taxes, transferring money and keeping your portfolios organized has never been easier.


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