What is a financial advisor?

Financial Advisor Definition:

A financial advisor is defined as a professional that can help you build your wealth and manage your finances. A professional financial advisor can work with you to establish goals and help you build a plan to reach those goals. Financial advisors can advise you on areas such as debt management and budgeting, inheritance tax advice, personal insurance, tax planning, retirement planning, and investment advice.

Financial Advisor Definition

What does a financial advisor do?

In short, a financial advisor helps a person or a business manage money. Typically, a financial advisor offers financial planning or wealth management services along with an investment component.

How can a financial advisor help you?

A good financial advisor can examine your current finances and cash flow and help you build an effective financial planning strategy. Of course, you can find planning strategies through books and other resources, but a good financial advisor would be able to help you with specific financial situations such as:

  • Financial Planning
  • Retirement Planning
  • Debt Management
  • Budgeting
  • Tax Planning
  • Health and Long Term Care Planning
  • Estate Planning
  • Inheritance
  • Investments
  • Higher Education Savings

Whatever amount of money you have today, growing it into a considerable fund is possible with the help of a professional financial advisor.

Why should you hire a financial advisor?

  • Help you enjoy your life — Working with a financial advisor can help free up the time it might take you to do adequate financial research on your own. Delegating the financial aspects of your life to a professional is arguably one of the most common reasons for hiring an advisor. 
  • Help make your future better — By having a good financial advisor, you can save money for your future. Some financial advisors can even help you make sure that your money can accommodate your changing needs, from becoming a married man/woman or perhaps preparing for your golden years.
  • Help you protect your finances — While investing has the potential to grow your savings, some investments might not be the right choice for you based on your goals or risk tolerance. By working with a financial advisor, you can avoid investments that don’t suit your needs and comfort level.

If you’re thinking of hiring a financial advisor but don’t know where to start, we can help. Schedule a 10-minute introductory call with one of our advisors to see if we’re a good fit. It’s 100% complimentary. No cost, no pressure, no obligation. Just sound advice.