It doesn’t matter how old you are, where you are on your career path, or even if you’ve already retired; everyone needs to plan their finances.

Just like you’re reading this article, many people go online to research and understand the various investment options they have. But this isn’t the difficult part. The fact is, even if you’ve decided to make a few investments, you suddenly realize that there’s no time to deal with all the paperwork, AND, on top of that, you need to constantly monitor and tweak your investments as well.

But that’s not all, a financial advisor also helps you maintain your mental peace. They ensure that your money works as hard as you do and is available as and when you need it. Depending on your personal and financial goals, your financial advisor should enable you as an investor through a holistic approach to money management, rather than just looking at specific investment channels in isolation.

This is where a certified financial planner or financial advisor comes in. But before you actually start looking for a financial advisor, let’s understand some basics of financial planning.

What is financial planning?

In the simplest of terms, financial planning is the process of identifying your financial objectives and creating a ‘financial plan’ that helps you achieve those objectives. You can use financial planning to prepare for retirement, funding the future of your child, and to achieve short term or long term monetary gains.

And the best part? You can start doing it anytime! In fact, if you’ve just started your career, financial planning can yield massive results by the time you reach your 30s, effectively cutting down on a lot of stress that many middle-aged working professionals face.

What does a Certified Financial Planner do?

A financial advisor or certified financial planner is someone who provides you with expert insights into planning your finances.

• First, they will talk to you to understand your current financial situation and your future goals (personal, professional, or both).
• Then your financial advisor will devise a strategy to effectively utilize your finances so you can meet your goals in a reasonable amount of time
• They also review and tweak the plan as and when required.
• Typically, they will also interface with money managers to ensure that you are indeed making an investment that works to your benefit.

Why should you hire a financial advisor?

By now, it’s pretty obvious to you what a financial advisor does and why people need certified financial planners. But there’s got to be more to it, right? Here are 6 more reasons why you should hire a financial advisor now –

• Dedicated To Making Your Money Grow

A financial advisor has only one job – To put your money to work. Unless you’re a certified financial planner yourself, it’s highly unlikely that you’d be able to dedicate all your energy towards your investments. You have other things to do; a business to run, or a family to take care of, and, let’s not forget, a life to live! So, you do you, and just let your financial advisor do the rest.

• Knowledge and Expertise

Experienced advisors who have handled multiple accounts before, know all tricks of the trade. They’ll be able to execute ideas and strategies that allow you to achieve your financial objectives, all the while ensuring that your portfolio generates a positive ROI, every step of the way. If you’re approaching a good wealth management firm or a well known independent financial planner, you can rest assured that your hard-earned money is in good hands.

• Build a Holistic Financial Strategy

A good financial advisor always looks at the bigger picture while working for their client. They will factor in everything from your immediate financial requirements to future educational/professional expenses, and even the things you need to worry about after you retire. This helps them build a financial strategy designed specifically to help your investments grow.

• Because Time = Money

If there’s one saying that always has been and always will be relevant for humankind, it’s ‘Time is money.’ And if you’re spending time just figuring out what to do with your finances, then you’re definitely losing out on actually making money. If you’re a busy working professional or if you’re caught up with building a business, hiring a financial advisor is the best gift you can give to yourself.

• Investing in Stocks & Equity

Over the last few years, the technology boom has opened up avenues for more individuals to consider investing in the stock market. While the buy low, sell high theory sounds easy to follow, trading in stocks is not easy at all. Considering how volatile the stock market is, it’s advisable to hire a certified financial planner to help you with your investments.

• Adjusting To Life Changes

As we grow older and grow in our respective professions, we are faced with many situations that can significantly alter our way of life. A financial advisor can assist you in handling these changes by designing/modifying a financial strategy in order to help you deal with any new expenses or financial challenges you face.

Get started on your financial planning journey; talk to a certified financial planner today