Investing · 2 min read
Planning or investment management: what help do you need?
Separate the decisions you want help making from the work you want someone to carry out.
Baxter Financial Planning · Updated November 5, 2026
Start with the responsibility
Financial planning connects a decision to your broader circumstances. Investment management adds responsibility for implementing and maintaining an agreed portfolio. They can overlap, but the responsibilities should be explicit.
You might want a second opinion on your allocation while remaining comfortable placing trades yourself. Or you may want help maintaining a portfolio as cash needs and circumstances change. Neither preference, by itself, establishes which engagement is appropriate.
Ask what happens between meetings
For a focused engagement, clarify when the work ends and whether any follow-up is included. A written plan alone does not mean someone is continuously watching your accounts.
For an ongoing relationship, ask what is monitored, how often it is reviewed, who can place trades, what requires your approval, and how restrictions are documented. Also ask which planning work is included in the ongoing fee.
Compare the complete arrangement
Look beyond a headline fee. Identify the advisory charge, investment expenses, account charges and any separately billed planning. Ask how the adviser is paid and what incentives that creates.
Before choosing a service, write down the decision, the tasks you are willing to carry out, and the tasks you want to delegate. Those three lists make a useful starting point for a conversation.
General education, not individualized investment, tax or legal advice. No client relationship is formed by reading this guide.