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Who Wants Help from a Financial Advisor?

Who Wants Help from a Financial Advisor?

May 06, 2024

We live in a time where information about personal finance is in abundance and people may access personal financial education and tools without the assistance of a financial advisor. Why would you not want help from a financial advisor?

You may not want help from a financial advisor if you are comfortable with your investment knowledge and strategy, or your financial goals are straightforward and your investments are relatively simple, or you are wary of fees.

While there are some cases when a person may not want help from a financial advisor, there are other cases when it may be preferable. Why would you want help from a financial advisor?

You may want help from a financial advisor if your personal financial situation involves complicated factors like managing an inheritance or managing your withdrawal rate in retirement, or if you have limited time to manage your own investments and want professional guidance, or if you panic when news of a down market floods news outlets and your panic may cause you to act in a way that may negatively impact your financial situation.

Whether you choose to work solo or with a financial advisor depends on you. If you need help creating a financial plan or would like to work with a financial professional, consider resources like NAPFA or Fee-Only Network to find fee-based financial advisors. Always research your advisor using FINRA's BrokerCheck or the SEC's Investment Adviser Public Disclosure website before working with them. If you choose to work with a financial advisor, ask questions that matter to you and explore whether you are comfortable with the answers you receive. In today’s world, what you want is available: go find what works for you.


Wendolyn Forbes is a CERTIFIED FINANCIAL PLANNER™ with Wealth Transition Finance, A Member of Advisory Services Network, LLC. Wendolyn is a fee-only financial planner and member of the National Association of Personal Financial Advisors (NAPFA).

CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the U.S.

This material is provided as a courtesy and for educational purposes only. Advisory Services Network, LLC does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. Federal and state laws are complex and constantly changing. Consult your own legal or tax professional for information concerning your individual situation.

 Originally published in the May 2024 issue of Positively Haywood by Vicinitus.