Build a financial team
Why you need a financial team that talks to each other
Your money touches taxes, investing, insurance, property and family plans all at once. A financial team helps you manage every piece. It works best when the pros on your team share notes and plan together, with you at the center. Here’s how to build a financial team that works as one.
Why it matters
What a financial team does for you
A financial team is a small group of professionals who each handle one part of your money. No single person can be an expert in everything. So instead of guessing, you get the right help for each decision.
You don’t need everyone on day one. Most people start with one or two pros, then add more as income, family and assets grow. Here are the roles most people end up needing.
Financial planner
Builds your big-picture plan for saving, investing and retirement. Then they keep it on track as life changes.
CPA or tax pro
Plans ahead to lower what you owe, files your returns and flags the tax side of big moves before you make them.
Estate planning attorney
Drafts your will, trusts and powers of attorney. As a result, your wishes are clear and your family is protected.
Insurance professional
Makes sure your income, home, health and family are covered if something goes wrong.
Banker or lender
Helps with mortgages, business loans and credit, so you borrow on good terms and at the right time.
Money coach
Helps you set a budget, build habits and stay motivated. A coach is a great first hire when you’re just starting out.
How it connects
A connected financial team, with you at the center
When you build a financial team, think about how the pros will connect. Each pro sees one part of your life. However, the best results come when they see how the parts fit. When your team shares information, one decision doesn’t undo another.
Hover or tap a pro to see who they work with.
- Planner + CPATime bonuses, stock sales and Roth conversions so you keep more after taxes.
- Attorney + PlannerKeep account titles and beneficiaries in line with your will and trusts.
- Insurance + AttorneyDecide who owns each policy and who gets paid, so the money lands where you meant.
- Lender + CPAShare returns and income details so a mortgage or business loan goes smoothly.
- Coach + PlannerTurn everyday habits and budgets into long-term goals you can reach.
Why they should talk
Why your financial team should talk to each other
Every money move has a ripple effect. For example, an investment choice can change your tax bill. Likewise, a new home can change your insurance needs, and a new baby can change your will. When your pros work alone, you end up as the messenger, and important details get lost.
Moments when your team needs to connect
- You get a big raise or bonus. Your planner wants to invest it. Meanwhile, your CPA knows how much tax it will trigger. Together, they can decide how much to save, invest or set aside.
- You buy a rental property. Your lender, CPA, planner and insurance pro all play a part. For instance, rental losses may be limited by your income, which is something your CPA should flag before you buy.
- You start a business. Your CPA picks the right setup for taxes. Then your attorney protects you legally, and your planner adjusts your savings and retirement plan.
- You have a baby or blend a family. Your attorney names a guardian and updates your will. At the same time, your insurance pro adds coverage and your planner starts college savings.
- You inherit money or sell something big. Taxes, investing and estate plans all change at once. So this is the moment for a full team check-in.
What can go wrong when they don’t
- Beneficiary forms that don’t match your will. In many cases, the form wins, even if your will says something else.
- Investments sold at the wrong time, which leads to a surprise tax bill.
- Life insurance owned the wrong way, so the payout ends up taxed or tied up.
- Two pros solving the same problem in different ways, and you paying for both.
- Advice that conflicts, which leaves you stuck and unsure who to trust.
By the numbers
What the research says about having a financial team
Good advice adds up. Still, many families have big gaps in their plans. Here’s what recent studies show.
About 3%
Potential added net return per year from working with an advisor, through planning, coaching and tax-smart moves.
Source: Vanguard, Advisor’s Alpha
64% vs. 29%
Americans who feel financially secure with an advisor, compared with those without one.
Source: Northwestern Mutual, 2024 Planning & Progress Study
79% vs. 38%
Have a long-term plan built for market ups and downs, with an advisor vs. without.
Source: Northwestern Mutual, 2024 Planning & Progress Study
24%
Share of U.S. adults who have a will. Most families have no plan for what happens next.
Source: Caring.com, 2025 Wills Survey
51%
Share of American adults with any life insurance coverage, leaving about half without it.
Source: LIMRA and Life Happens, 2025 Insurance Barometer Study
#2
CPAs, attorneys and other pros are advisors’ second-biggest source of new clients. In other words, good pros already work together.
Source: Cerulli Associates, U.S. Advisor Metrics 2025
Get started
How to build your financial team
When you build a financial team, simpler is better. Start small, then add pros as your life gets more complex.
- Start with your biggest need. Is it taxes, a plan for investing, or protecting your family? Begin with that pro.
- Add pros as life changes. A new home, a business or a growing family is a good time to add the next person.
- Give them permission to talk. Most pros need your written OK to share details. Ask each one for a simple consent form.
- Hold a yearly team check-in. Even one shared call or email thread a year keeps everyone on the same page.
- Keep one shared document list. Track your accounts, policies, wills and contacts in one place your team can reference.
How CHIP helps you build your team
CHIP matches you with vetted financial pros who understand your culture, your family and your goals. Not sure where to start? Take the Prosperity Matrix money archetype quiz to learn your money type, or read Cultural Coins to hear from pros on our platform. When you’re ready, get matched with the pros who fit you.
Common Questions
What is a financial team?
A financial team is a group of pros who each help with one part of your money. It often includes a financial planner, a CPA or tax pro, an estate planning attorney, an insurance professional, a banker or lender and sometimes a money coach.
Do I need a financial team if I’m not wealthy?
Yes. A financial team isn’t only for the wealthy. Many people start with one pro, like a money coach or a tax preparer, and add more over time. Even a will and the right insurance can protect your family at any income level.
How do I get my advisor and CPA to talk to each other?
Ask each one to work together, and sign a consent form so they can share your information. Then set up one shared call or meeting each year, especially before tax season or a big money move.
Who should lead my financial team?
Many people let their financial planner act as the main point of contact, because the plan touches every other area. However, you’re always the decision-maker, and the team works for you.
How much does a financial team cost?
It depends on the pros and how they charge. Planners may charge hourly, a flat fee or a percentage of what they manage. CPAs and attorneys often charge per service. Ask each pro how they’re paid before you start.
Build a team that talks.
Get matched with vetted pros who understand where you come from and work together on where you’re going.
Sources
- Vanguard, Advisor’s Alpha (Kinniry et al., “Putting a value on your value”).
- Northwestern Mutual, 2024 Planning & Progress Study, as reported by Financial Advisor magazine.
- Caring.com, 2025 Wills & Estate Planning Survey.
- LIMRA and Life Happens, 2025 Insurance Barometer Study.
- Cerulli Associates, Financial Advisors Increasingly Leverage COIs (February 2026).
This page is for education only and isn’t financial, tax or legal advice. Talk with qualified professionals about your situation.