Do I need financial advice? 

Summary 

How do I know if I need a financial advisor? 

Answering the question, “Do I need a financial advisor?” is an important first step for anyone contemplating the future of their financial plans.  

You likely need a financial advisor if you are in the process of setting and acting upon financial goals, determining investment risk limits, or managing complex assets, such as an estate or retirement fund.  

Hiring a financial advisor is not necessarily essential for managing your finances. However, it can significantly expedite the process of setting and meeting financial goals and growing wealth while streamlining the process of navigating tough financial challenges or procedures.  

The less experience or understanding you have of financial management or investing, the more you stand to gain from the guidance of a professional financial advisor.  

What do financial advisors do? 

Financial advisors offer strategic, personalized financial plans for clients who want to manage their finances more effectively.  

Financial advisors typically offer a variety of services, including goal-setting, retirement planning, tax planning, investment guidance, portfolio development, and estate planning, all of which can be adapted to individual needs and circumstances.  

When would I need a financial advisor? 

There is no wrong time to seek the guidance of a professional financial advisor — the information, support, and planning services they provide are universally beneficial.  

However, there are some scenarios in which people may require the help of an experienced fiduciary guide, including:  

What are the advantages of financial advice? 

The advantages of obtaining financial advice cannot be understated.  

Hiring a financial advisor can remove most financial stress from your personal and professional responsibilities, improve your financial literacy, and teach you important skills for growing and managing your wealth over time.  

If you are dealing with difficult or complex financial circumstances, the advantages of professional insight are even more valuable.  

Estate management and dealing with unexpected expenses are all financial stresses that can be significantly lessened with expert advice.  

How much do financial advisors cost? 

Budgeting is one of the most important things to consider.  

The cost of a financial advisor will vary depending on three factors: which firm you go to, what kind of services you need, and what kind of fee structure the advisor you hire adheres to.  

If you pay a flat fee, you can expect to pay between $2,000 and $7,500 per year for continuous, ongoing services.  

If you pay a percentage-based fee for the assets you seek to manage, you can expect to pay 0.25% to 1% annually.  

You can learn more about how much a financial advisor costs here.  

What type of financial advisor do I need? 

There are a variety of financial advisors to choose from depending on your needs as a client.  

Some of the most common you might find today include:  

What basic questions should I ask a financial advisor? 

It can be helpful to arrive prepared when meeting with a potential financial advisor.  

Asking some basic questions can help you answer “yes” or “no” to bigger questions like, “Do I need a financial advisor?” and “When do I need a financial advisor?”.  

Some questions you should ask an advisor before you start working with them include: 

What are some red flags when looking for a financial advisor? 

The US is home to some of the largest and most reputable financial advisory firms in the world. However, like all industries, there are bad apples to look out for when hiring a financial advisor.  

You can weed them out by checking for potential red flags, such as: 

Get expert financial advice 

There is a huge gap to be bridged by people who feel they need financial advice and those who know how to go about obtaining it.  

Financial advisors can help people from all financial backgrounds make sense of their money and manage their funds more effectively, setting them up for a more financially secure future.  

Let Unbiased match you with a financial advisor who can offer expert financial advice that is tailored to your current needs and future goals.