Five Star award winner John L. Norman

5 Reasons to get a second opinion on your financial plan

When it comes to your finances, it’s important to get things right. Your financial plan affects everything from your daily comfort to your long-term goals and dreams. That’s why getting a second opinion can be a game-changer. Here are five reasons why it's worth considering:

1. Catch What You Might Have Missed
Even the best financial planners can overlook something. A second set of eyes can spot things like gaps in your insurance, tax issues you hadn't thought about, or missed investment opportunities. Basically, it's a great way to make sure all your bases are covered.

2. Double-Check Your Current Plan
Sometimes, you just need to hear that you’re doing everything right. A second opinion can confirm that your financial plan is solid and on track. This can give you added confidence, knowing that another skilled professional has given you the thumbs up.

3. Learn New Tricks and Strategies
Different advisors have different experiences and ideas. By getting a second opinion, you might learn about new strategies that could benefit you. Whether it’s a new investment idea or a better way to manage your taxes, a fresh perspective can offer valuable insights.

4. Make Sure It Fits Your Goals
Your financial plan should reflect your personal goals and situation. A second opinion can help ensure that your plan is really tailored to you. Another advisor might suggest tweaks to better align your plan with what you want to achieve, making it more personalized and effective.

5. Boost Your Confidence
Money can be stressful, and it’s normal to feel uncertain about whether you’re making the right decisions. A second opinion can ease those worries. Knowing that multiple professionals agree on your plan can give you the confidence to move forward without second-guessing yourself.

Conclusion
Getting a second opinion on your financial plan is a smart move. It can help you catch any blind spots, validate your strategy, introduce new ideas and ensure your plan fits your goals. Think of it as a way to double-check and optimize your path to financial success.

By taking this step, you're setting yourself up to make informed and confident financial decisions, which can lead to a more secure and happy future. So, don’t hesitate to seek out that extra advice—it might just be the boost your financial plan needs.

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This award was issued on 07/01/2025 by Five Star Professional (FSP) for the time period 10/09/2024 through 05/01/2025. Fee paid for use of marketing materials. Self-completed questionnaire was used for rating. This rating is not related to the quality of the investment advice and based solely on the disclosed criteria. 4405 Dallas/Fort Worth-area wealth managers were considered for the award; 315 (7 % of candidates) were named 2025 Five Star Wealth Managers. The following prior year statistics use this format: YEAR: # Considered, # Winners, % of candidates, Issued Date, Research Period. 2024: 4,255, 342, 8%, 7/1/24, 10/10/23 - 4/30/24; 2023: 4,274, 336, 7.9%, 7/1/23, 10/10/22 - 5/5/23; 2022: 4039, 330, 8%, 7/1/22, 9/20/21 - 4/8/22; 2021: 4007, 323, 8%, 7/1/21, 9/21/20 - 4/30/21; 2020: 4374, 335, 8%, 7/1/20, 10/7/19 - 4/24/20; 2019: 3899, 393, 10%, 7/1/19, 10/22/18 - 5/3/19; 2018: 3851, 338, 9%, 7/1/18, 10/24/17 - 5/21/18; 2017: 2730, 382, 14%, 7/1/17, 9/26/16 - 4/28/17; 2016: 2471, 678, 27%, 6/1/16, 11/30/15 - 5/18/16; 2015: 2862, 684, 24%, 7/1/15, 11/30/14 - 5/18/15; 2014: 5080, 621, 12%, 7/1/14, 11/30/13 - 5/18/14; 2013: 3834, 698, 18%, 7/1/13, 11/30/12 - 5/18/13; 2012: 2688, 654, 24%, 7/1/12, 11/30/11 - 5/18/12.

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Registered Representative of, and Securities and Investment Advisory Services offered through Hornor, Townsend & Kent, LLC (HTK), a Registered Investment Advisor, Member FINRA/SIPC. 800-873-7637 Wealth Coordination Partners is unaffiliated with HTK. HTK is a wholly-owned subsidiary of The Penn Mutual Life Insurance Company. HTK does not offer tax or legal advice. Always consult a qualified advisor regarding your individual circumstances. John Norman is insurance licensed in the following states: Arizona, Arkansas, California, Colorado, Florida, Georgia, Idaho, Kansas, Kentucky, Massachusetts, Michigan, Minnesota, New Hampshire, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennesee, Texas, Utah, Washington. John Norman is securities licensed in the following states: Alabama, Arkansas, Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Kansas, Kentucky, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Hampshire, New Mexico, North Carolina, Ohio, Oklahoma, Pennsylvania, Texas, Utah, Washington and West Virginia. Not an offer or solicitation in any state where not properly licensed and/or registered.

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Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. The award is based on 10 objective criteria. Eligibility criteria - required: 1. Credentialed as a registered investment adviser (RIA) or a registered investment adviser representative; 2. Actively licensed as a RIA or as a principal of a registered investment adviser firm for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by FSP, the wealth manager has not; A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three settled or pending complaints filed against them and/or a total of five settled, pending, dismissed or denied complaints with any regulatory authority or FSP's consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through FSP's consumer complaint process; feedback may not be representative of any one client's experience; C. Individually contributed to a financial settlement of a customer complaint; D. Filed for personal bankruptcy within the past 11 years; E. Been terminated from a financial services firm within the past 11 years; F. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients. Evaluation criteria - considered: 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations. FSP does not evaluate quality of services provided to clients. The award is not indicative of the wealth manager's future performance. Wealth managers may or may not use discretion in their practice and therefore may not manage their clients' assets. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by FSP or this publication. Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by FSP in the future. Visit www.fivestarprofessional.com.