7 Reasons Why You May Need a Financial Advisor

need a financial advisor

Do you have trouble keeping your investment plan on track? Are you finding it difficult to manage your finances?

If any of these questions describe you, then you need a financial advisor. This professional will help you with a number of tasks including tax strategies, organizing your finances, creating savings and investment decisions, and insurance planning.

As an entrepreneur, it is easy to think that you alone can handle issues within your organization. The truth is that finance is a tricky area that requires the advice of an expert to succeed.

Hiring a financial advisor is a  investment that will offer you financial advice, manage your taxes strategies, and help enable you to maximize your investment returns. Make sure you’re covered and understand why you may need a financial advisor.

What Is a Financial Advisor/Planner?

A financial advisor or financial planner is a qualified professional employed by businesses and individuals to help them advance their economic agendas and achieve their long term financial goals.

Do I Need a Financial Advisor?

Yes. Anyone can work with a financial advisor at whichever age or stage of their life. It doesn’t matter how much you earn as all you need is to find an advisor who best suits your financial situation. Here are seven reasons why you may need a financial advisor.

1. To Simplify an Overly Complex Subject

Finance is a heavily opinionated subject, and while books, web resources and even friends may guide you towards an informed decision, a financial advisor is a good option for sound financial advice that is in line with your goals and expectations.

What also makes financial advisors stand out is their ability to cover your entire financial situation comprehensively. Apart from your investments and spending, your financial advisor can also look into your insurance, mortgages, college funds to serve your interests.

2. For Their Experience

In unpredictable areas like finance, nothing beats age-old experience. Even a well-educated individual cannot match a financial advisor’s experience in this particular subject.

Indeed, a financial advisor’s most valuable asset is his experience. Years of professional training and working with many clients help provide financial advisors provide recommendations based on emerging industry practices for your business.

Over the years, these financial planners have mastered their craft to help you maximum return on your investments and strive for financial freedom for you and your family.

3. To Help You Make the Right Moves and Avoid Mistakes

Financial advisors operate within your risk tolerance levels, making sure every business decision you make whether good or bad won’t have a substantial impact on your overall finances.

In this regard, financial planners will help steer you from sketchy deals and impulsive decisions that may work against you in the end since they have a thorough understanding of legal and taxation issues.

As a rule of thumb, it is always good to liaise with a financial advisor before any massive investments. Taking financial advice from your colleagues who’ve seen success in a particular venture doesn’t always provide success for you.

A step in the wrong direction financially could have far-fetched consequences for you and your business. The sensible thing is to have a financial advisor look over every detail of your investments and give way forward.

4. To Give Balance to Your Personal Spending and Business Revenue

There’s a fine line between business profits and personal gain which many business owners fail to establish. If your earnings are through the roof, it’s easy to get caught up in a frenzy and forget to reinvest in your business.

Some business owners, on the other hand, forget to take a share of the profits an instead reinvest entirely in the financial market.

While there’s no exact formula of determining what amount should go where financial advisors help strike a fair balance between business and personal expenses to help with overall financial stability.

5. To Reduce Costs

It may seem ironical that splurging on a financial advisor is cost-effective, but ultimately, the result of hiring one is reduced expenses all around.

Financial advisors are keen to help minimize wastage and capitalize on opportunities for the sake of improving your financial situation. They achieve this by coming up with systems that help keep track of your expenditure and monitor costs to make the best use of the resources at your disposal.

These tailor-made systems cater to your specific budget, so you get the best bang for your hard earned buck.

6. To Help You Focus on Your Business

Running an enterprise can be pretty exhausting, especially if you don’t have anyone else to help. Going solo means that you’ll have to take care of every tiny aspect of the business to keep it afloat. Add accounting to the mix, and you can end the day very wound up only to wake up to an even busier day tomorrow.

Financial planners can help ease the burden of punching in the numbers every day. With someone to help do the math, you can now put your entire energy on propelling your business to greater heights and also have some load off your busy schedule.

7. Finances Matter Today and Tomorrow

As much as we would love to kick our fit up and relax in our senior years, the truth is we won’t have that option if we don’t plan our finances early enough. If you’re setting yourself up for early retirement, then the best time to start saving is now.

Saving for retirement earlier could determine whether you’ll live in your dream home or a run-down apartment after you retire, or whether you’ll retire early or much later when you barely have the energy to travel and enjoy your retirement.

Financial advisors will help streamline your retirement plans so you can feel more confident about your future.

Conclusion

In this day and age, you need to consider a financial advisor to help you manage money, build wealth and achieve goals.

Need a little help finding the right financial advisor for your situation? We’re here to help. Check out our full-roster of financial professionals today.

This material was prepared by an independent third party.  Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.  Material discussed is meant for general informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice.  2019-83151 Exp 07/21

Luke E. J. Will

Luke E. J. Will was born and raised on a farm in Watertown, WI. His values and ideals were shaped by his hardworking family and are embedded into the relationships he builds with his clients. Luke has built Navigation Wealth Management with Kurt Zipp to deliver the “Navigation Way” of financial planning and asset management to his clients from all walks of life. The “Navigation Way” is built upon Trust, honest conversations, and understanding his clients financial goals.Luke attended the Wisconsin School of Business at the University of Wisconsin-Madison, where he earned his Bachelor’s degree in Finance, Investments & Banking.His favorite hobbies are hunting and fishing with family and friends. He is loves spending time outdoors including snowboarding, skiing, kayaking, and camping while spending any extra hours with his family, watching all the sports teams in Wisconsin play. Traveling, music concerts, and reading are few other interests.