Is Your Healthcare Portfolio Managed As Well As Your Finances?

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A financial advisor takes care of all aspects of their clients’ financial lives, and this often includes healthcare costs. A financial advisor’s expertise is not in health care, however, making it difficult to provide strategic advice in this area.

Health and wealth are connected, and a client’s health portfolio deserves the same expert attention that a financial advisor gives to their financial portfolio. Financial advisors can deepen relationships with their clients by connecting them with health advisors for health-related guidance.

Health advisors and financial advisors share many similarities in the services they offer clients, such as analyzing a client’s situation, developing a plan, leveraging expert capacities, and providing ongoing service and counseling. Like the financial industry, the healthcare industry is vast and complex. It takes years of experience and relationship-building to understand the ever-changing needs of clients and their families. To provide a client with the best financial advice regarding their health, a financial advisor can connect with a health advisor.

The role of a health advisor

Broadly, health advisors help clients navigate the intricacies of healthcare. They take a holistic approach to analyzing all aspects of a client’s health, including their medical team, insurance plan, medical history, health issues and much more. Just as a financial advisor caters to individual clients, a health advisor works closely with clients to ensure that their unique needs are met.

Health advisors discuss complex healthcare issues in plain English, breaking down medical jargon into language that clients can understand. Medical decisions are often stressful, and a health advisor offers expert insights and personal support as a client processes a new diagnosis, manages a chronic illness, or considers treatment options.