Why Do You Need A Financial Advisor?

It isn’t only the wealthy who need financial assistance. A vast amount of the people look to different wealth management firms for guidance on an annual basis. So, when do you turn to a Financial Advisor?

When you need help reaching your financial goals.
Think of your financial advisor as a personal coach who will help you stick to your programme and ensure you stay on track.

When you want to invest money, but aren’t sure how or where.
Use your financial Advisor as a source of knowledge and experience who provides you with unbiased advice, to empower you to make informed decisions and life choices.

You want to build up enough income to be able to retire comfortably
The main focus here is to save as much money as you can, so you can enjoy a pleasant, laid-back retirement. Because there is no ‘one size fits all’, financial advisors will tailor a specific strategy and portfolio for you, so you have available funds. You will receive constant support and guidance to secure consistent investment and saving.

You don’t have the time to regularly monitor your investments
Unless you spend the majority of your day checking the JSE, constantly monitoring your investments can become a full-time job. Financial advisors will assess your current life situation, needs and life-goals, and recommend the necessary strategy to move forward.

 Life events that might lead you to a financial advisor:

• Saving enough for retirement
• Parents that need personal care
• Buying or selling of a business
• The inheritance of a large amount of money
• Marriage or unexpected divorce
• Family planning
• Illness or natural disaster that puts you in a financial crisis

What should you look for in a Financial advisor?

• Educational background
• Work experience
• Accreditations and licenses
• Services that are on offer
• The areas in which the advisor specialises
• A holistic approach
• An independent advisor/company
• Professional affiliations
• Someone who understands your needs and goals
• Current business relationships associated with the advisor (look for testimonials)
• The typical charges associated with the advisor.

If you are still unsure, it’s always a safe bet to book an appointment to meet with the advisor. This way you can get a good feel about how he/she may work.

May 28 2019 By Noble Wealth Management Financial Planning