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When Should You Hire A Financial Advisor ?

Updated: May 16, 2019


Many Americans have no issues seeking professional help for their health. The idea of going to a medical specialist for specific health concerns seems very commonplace. Yet when it comes to their finances--many people try to go it alone and they choose not to seek help. This is where Guidefi comes in. We make it easy for you to find the financial help --or guidance you need. Through the Guidefi Advisor Network, we can connect you with a local financial advisor with the expertise to address your specific financial needs.


A financial advisor's services can be extremely flexible, they can help you survive a financial crisis or simply plan for your financial future. We have compiled a list of 15 life situations where the expert guidance from a financial advisor would be useful. For the purposes of this list, when we say financial advisor, we typically are referring to a specific type of advisor called a Financial Planner, unless specifically indicated.


Here is our list of 15 reasons to hire a financial advisor:


1. UPCOMING RETIREMENT: If you are nearing retirement or are already retired, a financial advisor can help you determine if you have the funds available to live comfortably for the next 10 -20 years.

2. NEW FAMILY: If you just started or are about to start a family, a financial advisor can help you determine how to manage your newly expanded household with the additional expenses of childbirth, and college planning.

3. STUDENT DEBT: If you have excessive levels of student debt, a financial advisor can help you develop a budget to free up income to help pay down your debt. A debt consolidation specialist could also help you restructure the debt to pay your balances off faster. Guidefi can help you find both of these types of professionals.

4. SMALL BUSINESS OWNER: If you are small business owner, a financial advisor can help you examine your current and future cash flows to ensure it is adequate for retirement planning and other financial goals.

5. HIGH INCOME EARNER: If you are fortunate enough to be a high income earner, a financial advisor can help you improve your saving, investing habits and shield your income from excessive taxes.

6. NEED ADVICE ON A SPECIFIC DECISION: If you have a specific financial decision that you need to make and you need a balanced opinion, a financial advisor can help ensure you consider all of the relevant factors to make an informed decision.

8. FEEL OVERWHELMED: If you feel overwhelmed by your financial situation, a financial planner can help. They can help you identify your financial goals and priorities the actions needed to get there.

9. WANT TO LEARN MORE ABOUT YOUR FINANCES: If you recognize that you want to learn how to manage your finances, but you need a guide, a financial advisor would be helpful for you.

10. YOUNG COLLEGE GRAD: If you want to start your life on a solid financial footing, a financial advisor can help you set your financial priorities.

11. SHORT ON TIME: If you are short on time and you don’t have the bandwidth to strategically manage your finances, and plan for retirement, a financial advisor can take the lead on the effort to ensure you have a plan in place to meet your financial goals.

12. WINDFALL: If you just received a large amount of money and you need immediate advice on asset management. (e.g., lottery, inheritance or tax refund)

13. AGING PARENTS: If you have aging parents that you expect to take care of at some point, a financial advisor can help you plan for that current and any future related expenses.

14. FINANCES ARE OK, BUT: If your finances are ok, but you want to know if you are missing anything –like tax breaks, or financial leaks in your budget, a financial advisor can help.

15. RECENT DIVORCE OR JOB SEPARATION: If you recently got divorced from your spouse or separated from your job, a financial advisor can help you figure out the best way to move forward financially.




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