Select Page

If you want to do more with your money and achieve your financial goals with confidence, assembling the right team to help you is critical. Many people feel uncertain about whether or not they should hire a financial advisor, and when to do so.

But working with the right financial planner – rather than trying to figure out complicated money situations by yourself – can make the difference between reaching success and wondering what went wrong.

By looking for a fee-only planner who works as your fiduciary, you’re likely to see a huge return on your investment in hiring professional help. And you know, as your fiduciary, your needs always come first.

Do yourself a favor and understand when it’s beneficial to get the right financial advisor working in your best interest.

Lack of Time or Interest

It’s time to hire a financial advisor when you’re working so much, or are so busy with life, that you neglect your investments.

If you have a large amount of money sitting in a savings account but don’t have time to figure out what to do with it, it’s time to hire a financial advisor. If you have a large pile of student loan debt that’s accumulating interest but have no idea what to do about it, it’s time to hire a financial advisor.

Or if you find that personal finance simply doesn’t interest you, it may help to work with a professional who can underline the importance of figuring out your money. The right planner can also help identify what does interest you, and create a plan that shows you how to leverage your finances to help you achieve other life goals.

Complicated Investments

Investing for retirement isn’t as easy as it used to be. Gen Y can’t rely on employer pension plans and a Social Security safety net.

Today’s young professionals have to figure out how, when, where, and how much to invest on their own. That can get complicated, and fast.

The right financial advisor will help you review your investments, assist you with protecting your assets, and make sure you have enough money to take care of yourself and loved ones.

Most importantly, an advisor helps you manage your emotions and make the best investment decisions for you long term. Average investors don’t do well in the market on their own because they make emotional, irrational decisions.

The market is almost rigged against human behaviors and biases, and it’s hard to make rational decisions with your money 100% of the time. Your advisor can stand between you and a poor investment decision that you’ll regret down the road.

Figuring Out Retirement Income

Many people don’t think of retirement income until they are about to retire. It’s hard for people in their 20s, 30s, and even 40s to envision their finances that are decades into the future.

But getting plans right now can mean the difference between living the life you want in retirement, and being forced to continue to work or scale back on your dreams.

The right financial advisor will help you prioritize investments according to your retirement goals and will help you rebalance as necessary. And again, they can help advise you on smart, long-term investment strategies – instead of reactionary, emotional ones people make on their own – to make your money last to retirement and beyond.

Large Financial Windfall

If you’ve recently received a large amount of money, like an inheritance, it may be time to hire a financial advisor. The right advisor will help you choose suitable investments for your windfall and help you allocate it appropriately to help you achieve your goals.

Choosing the Right Planner for You

When in doubt, evaluate your current financial situation and consider hiring a trusted financial planner to help you manage your money wisely. Not sure how to choose the professional you want in your corner?

Here are three things to look for in a financial advisor:

Fee-Only: These advisors charge based on a monthly or hourly fee, depending on your situation. Fee-only financial advisors do not receive commissions based on investments they recommend, which means no conflict of interest.

Fiduciary: Being a fiduciary means your financial planner has taken an oath to look out for your interests above all others.

Cost: Look for an advisor who charges a monthly rate that is affordable for you. Understand what financial planning services you receive in exchange for the flat fee you pay.

Whether you have a lot or a little, the right financial advisor will help you navigate the complicated waters of smart money management. That means helping you achieve your biggest financial goals, plan for your future, and prevent you from costly money mistakes.

Wrenne Financial Blog Ad
white coat investor
Student loan planning wrenne financial
Financial Planning Guide wrenne Financial
Finance For Physicians Podcast

What's Next

Are you interested in having a conversation? We’d love to connect! Click here to request a free consultation. We look forward to hearing from you.

Looking to create your own financial plan? Click here to download our free guide to getting started.

2022 © Wrenne Financial Planning | Accessibility | Crafted by Harris & Ward
Wrenne Financial Planning LLC (“WFP”) is a registered investment adviser with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. All written content on this site is for information purposes only. Opinions expressed herein are solely those of WFP, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.