In general, a financial advisor is someone who helps you undertake financial planning to achieve your goals; this includes helping you develop a savings and investment regiment, assessing your insurance needs, understanding your risk profile, estate planning, retirement planning and so on. Regardless of whether it is for the short term or long term goals, financial advisors are the professionals that can help make the right choices with your money. In line with this, working with an experienced advisor especially during uncertain times is the best option for you, and here’s why:

1. Be up-to-date on current affairs and other important developments:

It is extremely important for investors to be well updated on current affairs and other important developments in both local and international geographies as these could impact the market; and hence their investments. This is particularly true in uncertain times, like the current scenario brought about by COVID-19, when market volatility is high. Many new and part-time investors may not have enough experience or time to diligently study all the factors that will alter the movement of the market. In this case, working with a financial advisor can help you keep track of the events that may affect your holdings and take action promptly when required.

2. Efficiently manage your cash flow in the present climate:

The coronavirus crisis and lockdown policies are impacting the way that people go about their daily lives. Managing cash flow efficiently during turbulent times is essential to maintaining your peace of mind; poorly managed finances often lead you to experience stress and anxiety. Consulting an experienced financial advisor and devising a financial plan can help you optimally organise the way in which you utilise the funds at your disposal. This allows you to keep calm, be confident and ensure that you and your loved ones are protected during such jittery periods.

3. Successfully plan for all possible contingencies: 

The current situation is a perfect example of a contingency – an event that cannot be predicted – that brings with it several issues. One of these is job-loss, which can cause you to feel emotional turmoil and financial stress. Your financial advisor can help you plan for such contingencies and the transitions they bring with them effectively. This includes advising you on how to establish an emergency fund, and what steps you can take to make decisions coherently during these turbulent times.

4. Avoid making costly mistakes that can affect your goals: 

In today’s world, there are no excuses left to avoid working with a professional when it comes to your finances. Consulting a financial advisor has become very affordable, and even more widely accessible in the process. Furthermore, during uncertain times, their guidance can help you ensure that you don’t make any costly mistakes which can affect the state of your finances badly and deter you from achieving your goals. 

So by keeping these points in mind remember that while uncertainty can make you nervous, it shouldn’t cause you to panic. Having an experienced and certified financial advisor on your side to help you navigate these ambiguous periods can ease the burden on your mind. They will assist you in making the right decisions and ensure that you are on track to achieve your goals, despite the nature of the present scenario.