Do You Need A Personal Financial Adviser?

Do You Need A Personal Financial Adviser?

15 February 2018
 Categories: Finance & Money, Blog


It is not farfetched to assume that everybody would like their financial future to be secure, irrespective of whether they have dependents or not. Most people will spend a considerable amount of their time trying their best to plan their finances so that their needs are met, their bills are paid and that they can live relatively comfortably. However, ensuring that all your responsibilities are being met is not the same as saving money for unforeseen circumstances. Here is where a good number of people have a problem with financial planning. A financial planner is a professional that can come in and straighten out your money issues while also ensuring that you are on the path to economic freedom. As long as you are an adult, the following are just several reasons why hiring a financial adviser would be vital for you.

A financial adviser will guide you through goal setting

Just as with most other aspects of life, financial success starts with a good plan. However, you cannot adequately plan for your financial future if you do not know where to start. A financial adviser will come in and start the process by first analysing all your streams of income, whether you have one job or multiple sources of money. Once they establish how much money comes in, they can then decimate this information to help you know which investments you can begin with as you start to build your financial portfolio. Bear in mind that you do not have to start big right away. Forging a path is the most critical step to goal setting, and then you can gradually expand as your money grows.

A financial adviser will provide you with various options

You may be thinking that consulting with a major firm could be the same as hiring a personal financial adviser. This assumption would not be correct, though. What some people do not realise about financial asset firms is that they tend to have a precise scope of investments that they will direct their clients to. For example, you may be interested in individual stocks as part of your financial portfolio but find that the firm you are working with only focuses on mutual funds. Individuals that would prefer a broad scope of alternative options to choose from may find it easier to liaise with a personal financial adviser. The right financial adviser will not only present with a vast range of investments to make your pick from, but they will also consider your risk tolerance coupled with your long-term goals to help you make a selection for your portfolio.