Families and individuals seek out financial advisers for any number of reasons. The National Association of Personal Financial Advisors has compiled a list to help you determine whether you need professional help with your finances. Here are some reasons people decide to work with an adviser.
You have a sense of confusion and “information overload” about your finances.
Your financial planning has been forced to the back burner by your career and personal life. You hate having to think about finances and investing but know it is important to your family’s ongoing security.
You want to clarify your personal goals as they relate to money.
You’ve reached your “middle” years, and need to plan for your last 30 years.
You’ve decided to retire from the work that’s providing most of your income, and you need help managing your savings to last through retirement.
Your investments have been neglected for too long and you don’t know what to do about it.
You used to enjoy taking care of your investments, but now you want to devote more time to other pursuits.
You’ve been through the ”canned” investment plan programs some financial firms offer, and you now want to work with someone who’ll tailor a plan specifically to you.
You’ve become instantly wealthy—whether it’s by way of the lottery, stock options, an inheritance, or a legal settlement.
You want to work with someone who is not compensated by commissions so you can have a totally objective financial planning engagement.
You want to work with a professional who’s skilled in all financial planning areas, such as goal-setting, taxes, retirement, investments, educational funding, risk management, and estate planning.