Five benefits of a financial advisor
In the age of information, the answer to nearly any question is available at your fingertips. Want to know how to cook a particular meal or repair something in your home? All you have to do is get online and ask your question. You’ll likely have your answer in minutes.
This is true of nearly every area of knowledge, including personal finance. Many may wonder why they would ever need a financial advisor with so much information available for free online. The answer lies in the distinction between information and advice.
There’s no arguing that there’s an abundance of financial information readily available online. However, too much information can be a bad thing when it’s not offered with trusted recommendations or advice. That’s where a financial advisor steps in.
A deVere Group financial advisor gets to know your situation and recommends solutions based on your specific needs and goals. The advisor can cut through the noise of information and bring you only the information that’s pertinent to your situation. In short, your financial advisor can save you time and money while guiding you toward your goals.
Here are five ways a deVere financial advisor can help you take control of your financial future.
1. Help you stay invested. One of the biggest mistakes investors make is selling at the bottom of the market and buying at the top. This behaviour is driven by emotion. A financial advisor can help you rethink rash decisions and keep you focused on your long-term goals.
2. Provide a second opinion. It could be that you’re on the right track with your thinking, but you just need someone to listen and provide reassurance. Other times, you may need to hear someone tell you that you’re dead wrong. Either way, a financial advisor is there to listen to your thoughts, ideas, and worries and provide feedback and guidance to help you make an informed decision.
3. Help you develop a plan. It’s tough to make informed financial decisions if you don’t have a plan in place. A custom financial plan can put your goals and needs on paper, along with a detailed list of the actions needed to get there.
4. Provide you with access to alternative investments. The investment world includes much more than just stocks and bonds. Investments in assets like commodities, and structured products may help you control your risk. A knowledgeable financial advisor can present the advantages and disadvantages of these alternative investments and make a recommendation as to whether they’re appropriate for your situation.
5. Serve as a resource for your family and dependents. Are you the financial brain power for your family? It’s not uncommon that one person handles all of a family’s financial decisions. If that’s you, what happens if you’re indisposed? What if you’re disabled or even if you pass away? Will your family know what to do? A financial advisor can assist your family in tracking down all accounts, bills, investment, and property. He or she can also fill your family in on your plans and strategy so they can decide how to move forward.
There are many things you can do yourself with a little research online. Planning your financial future shouldn’t be one of them. At the very least, an experienced advisor can serve as a second opinion for your ideas and plans.