Have You Considered Adding a Financial Advisor to Your Personal Team of Experts?

By Elsie Dudukovich0 Comments


A financial advisor is a person who receives compensation for providing financial advice and other services such as estate planning, tax preparation, managing investments, or making investment recommendations.  A wide variety of professionals such as investment managers, financial planners, stockbrokers, tax preparers, and bankers may fit under the designation of financial advisor.  Each professional has its own specialty capacities, as well as licensing and registration requirements.  You may find it worthwhile to explore the world of financial advisors as you plan, grow, and manage your retirement funds.  Investopedia’s article on when to consider hiring a financial advisor may be a helpful resource.

Two ways financial advisors may be helpful to you:
  • You want to increase your financial literacy.  Financial advisors in their many roles can be educators. No matter your level of expertise and experience, you can find a suitable professional to help you learn.  If you’ve been holding yourself back financially out of fear of investing, a financial advisor can play a role in developing your understanding of the investing world – as well as helping you assess what acceptable risk means to you.   
  • You need to manage the financial implications of an income or life change.  Getting married or divorced can impact many aspects of your financial situation. A qualified professional may be beneficial to guide you in navigating through life’s changes.  Similarly, receiving a substantial salary increase, starting a business, or handling a significance inheritance are situations where working with an advisor may be in your best interest as you face new questions and options.