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Financial Focus: I’ve relocated. Should I change financial advisors?

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David Jackson

David Jackson is managing partner in charge of investments for Southern Springs Capital Group, which is at 2555 Meridian Blvd. in Franklin. For more information on Southern Springs Capital Group, call 615-905-4819 or visit www.southernspringscapital.com.

In recent years, Middle Tennessee — and Williamson County in particular — has experienced unprecedented growth as large numbers of people have moved here from other parts of the country. With no state income tax and a vibrant, diverse, growing economy, we have become a popular landing spot for people seeking to relocate.  

Change is a natural part of moving. It should come as no surprise that your life may look a little different after a relocation. But aside from the usual changes such as change of address forms and finding a local doctor, you may also wonder if you should move to a local financial advisor.  

Moving is a time in your life when you may require more financial advice than others. You might need advice about leasing rather than purchasing a residence in your new location. If you are changing employers, you’ll have new benefit packages to consider and analyze, full of different choices than you’ve had in the past. In addition, different 401(k) and retirement plan options may be available with a new employer. 

If you like your current financial advisor, choosing to remain with that advisor during and after a move isn’t a bad option. Most financial advisors are more than capable of working with clients who live in a different part of the country. Over the last year, we’ve all become experienced with tools such as Zoom, Facetime and others that allow you to stay in touch without having to meet in person. While your advisor may not have a network of local professionals such as accountants or attorneys should you need a referral, most of your day-to-day advice shouldn’t change much, even if you are living in a new city.  

However, if you were already contemplating making a change, moving may give you the opportunity to start fresh with a new financial advisor. Unfortunately, as a new resident, you may not be sure where to start your search. Use your new coworkers, friends and neighbors as a resource and ask for their recommendations.  

One thing you may notice — especially if you’ve moved to Middle Tennessee from outside of the South — is that people may be reluctant to discuss certain things such as finances, religion and politics unless someone else brings it up first. So, you may need to be the one to start the conversation. If your colleagues or neighbors like their financial advisor, they’ll be happy to share that information with you, but probably won’t bring it up unless you ask.  

Moving can be stressful, but it doesn’t have to be. Whether you choose to remain with your current financial advisor or find someone local after you relocate, your advisor can help to ease some of the questions and anxieties of moving by ensuring that your financial goals stay on track.   

For more information on Southern Springs Capital Group, visit www.southernspringscapital.com. Our offices are located at 2555 Meridian Blvd. in Franklin. We can be reached at 615-905-4585. 

Opinions expressed are those of the author and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Some investments mentioned may not be suitable for all investors. Past performance is not a guarantee of future results. Investing involves risk and investors may incur a profit or a loss. Holding stocks for the long-term does not insure a profitable outcome. Investing in stocks always involves risk, including the possibility of losing one's entire investment. 

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Southern Springs Capital Group is not a registered broker/dealer and is independent of Raymond James Financial Services.

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