The first quarter is a good time to connect with your financial advisor to reflect on the past and discuss the future. In-depth conversations about annual tax rules, budgets, investment performance, and the year ahead can reveal insights and needed adjustments to your financial plan.

You can start the conversation with these five expert-recommended questions.

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"Tax laws are changing all the time, and practices that consumers are used to or avoid may be treated differently in the new year," explains Ken Robinson, founder and senior advisor at Practical Financial Planning. Robinson recommends working with your advisor early to address any Tax law changes. This gives you more time to adjust and implement new strategies.

Jennifer Kohlbacher, director at wealth consulting firm Mariner, added that the tax changes could trigger a range of actions, from updating estate planning documents to allocating funds to 529 plans for grandchildren.

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Gregory Lucan, founder of Lucan Wealth Management, recommends asking your advisor what you can do independently to support your financial plan. Market conditions and personal circumstances change. These changes may prompt you to save more, move your tax-deductible contributions to other accounts, or update your estate planning documents.

“You can only control four variables,” Lucan explains, “but four is enough.”

Lucan says there are always external economic factors that put pressure on your financial plan, but you can control how much you invest, how long you invest, how you allocate your investments and how much you spend relative to your income.

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Jake Falcon, CEO of Falcon Wealth Advisors, raised the issue of alignment to help savers stay true to their priorities. "Many people are trying to maximize returns every year. It's more important that your portfolio aligns with your financial goals," Falcon explains.

For example, a retired couple focused on preserving capital should not invest in a volatile growth stock like Nvidia (NVDA). Falcon said risks of inconsistency include emotional stress, missed targets, lack of direction and increased risk exposure.

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Joel Callagan, vice president at Wealth Improvement Group, recommends having conversations with your advisor about offering strategies during the first quarter. “The Tax Cuts and Jobs Act significantly changed the ability to deduct charitable donations,” Callagan explained. Your advisor can determine when to pursue a more aggressive strategy, such as super funding a donor-advised fund.

Donor-advised funds function similarly to personal charitable foundations. You donate to the fund, which in turn donates to charity. Your donation is immediately tax deductible. The fund's unallocated assets also grow tax-free. Super grants involve donations to the fund for two or more years.

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Jeff DeLarme, founder and president of DeLarme Wealth Management, said the first quarter is a good time to review how investments performed relative to benchmarks. This question might broaden your perspective, especially if you tend to compare your performance to just one benchmark like the S&P 500. It can also spark productive discussions about risk, portfolio allocation, and the advisor's skills in selecting appropriate investments.

“To be sure,” Drum explains, “even the best investment managers and advisors may underperform from time to time, but we should strive to understand why we do what we do.”

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The first quarter is a productive time to meet with your financial advisor, but whether this is the only time the two of you have contact depends on your situation.

Chad Gammon, CFP and owner of Custom Fit Financial, paces meetings based on the maturity of his clients' financial plans. For example, for new clients, he prefers to meet three times a year. Later, the frequency may drop to one conversation every two years unless there are specific complex issues that need to be addressed.

If you are satisfied with your net worth growth and don't expect major changes in your life in the short term, then annual meetings may be sufficient. Life changes should prompt more frequent conversations, including retirement, divorce, or inheritance. Any of these could change your income or liquidity needs or your risk tolerance.

Small changes to your first-quarter financial plan can have big results. Don't miss the opportunity to review your goals, money management habits, and investment performance with an experienced professional. If a change of strategy becomes necessary, you will have almost a full year to benefit from its effects. Likewise, your financial advisor will appreciate the conversation, and you'll feel more connected to your wealth plan.