Learn and Plan:
Do I Need a Financial Advisor?

With so much information available on the internet, you may be asking, “Do I really need a financial advisor?” Here are some clear signs that enlisting the help of a financial advisor may be a good idea.

You're too busy to research all your financial options.

It takes time to find the best strategies and investments for your financial goals. And it’s not a one-time task either. Even if you’re investing for the long-term, you need to monitor your investments and portfolio allocation regularly, re-evaluate your investments when financial goals change, and stay on top of marketplace and regulatory changes.

You value the insight and expertise offered by an experienced professional.

Understanding the markets, economics, investments and personal finance can be a challenge. By working with a professional financial advisor, you can tap into and benefit from their education and experience.

An advisor can do more than help you achieve financial objectives. Many financial advisors view their relationship with clients as a partnership aimed at helping them lead fuller, happier lives. These advisors ask important questions about your dreams, goals, and the role money plays in your life. Rather than impose solutions, a good advisor helps you make investment choices that enable you to achieve financial success and personal fulfillment. And by creating a long-term working partnership with a trusted advisor, you'll be in the best possible position to adjust your investment strategy when conditions in the market, or in your own life, shift.

You’re considering a more exotic type of investment or a single large investment in a “hot” opportunity.

Just because the recommendation comes from well-meaning friends and family or some investing guru does not mean it’s a good fit for you. There may be nuances you don’t understand or other reasons for caution. So it’s wise to get a second, professional opinion on how the investment fits into your overall financial plan before you proceed.

Your life is in transition.

Starting a family, starting a business, getting married, going through a divorce, taking a break from the workforce, receiving an inheritance, experiencing a serious illness or disability, losing a spouse, or taking on the care of an aging parent are all big life transitions that can affect your finances and are good opportunities to seek professional financial help.

You're mired in uncertainty and procrastination.

If you can’t seem to make a decision about investments or make yourself sit down to evaluate how much you’ll need in the future, an objective outside expert can move you to action.

You have a nagging feeling you could be doing better with your finances or that there’s something you’ve overlooked.

In this case, taking the time to review your plan with a financial advisor may reveal changes you need to make or simply provide reassurance that you’re on the right track.

You feel you don't have access to all the resources you might need.

Financial advisors and their firms have access to multiple analysts and tools that you may not have the time or resources to research. These tools might help you get ahead of the market. In any case, they would probably help your financial education.

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