• Michael Wellings

Do You Need a Financial Advisor?


Let’s be honest, not everyone thinks they need a financial advisor. Plenty of people are the do-it-yourself type, (for example, CPA’s and attorneys), who love learning about investments, analysis, and other financial concepts to apply themselves. Others simply are mistrustful of financial firms. However, if you indulge us for a few brief minutes, you might just discover that you could benefit from working with a fee-only, boutique financial advisory company. (Side note: Is there a difference between a financial advisor and certified financial planner? Check back on our blog soon to see!)

It’s pretty well known that retirees and pre-retirees are the bread and butter of many financial advisors. In fact, they make up the bulk of our own clientele. If you fall into this category, let me tell you, there’s a reason why many of your peers are seeking financial advice. Multiple reasons. Do you know when the optimal time is for you to start taking social security? If you’ve got your life savings in IRA’s or a 401(k), do you know how to make it last your whole life so you won’t run out of money? Can you grow those savings effectively? These are just a very few reasons why retirees choose to utilize a financial advisor or planning firm.

You know what really challenges a lot of people? Change. Career changes, divorces, retirement, death, you name it. It all has financial repercussions, not to mention psychological. Many people seek financial advice to deal with it all. Do you know your cash flows up and down? Should you rollover a 401(k) to an IRA, or leave your money with your prior employer? There’s a myriad of assistance that financial firms, like us, can provide. Of course, it is not always about money and finances. Something that we’re incredibly proud of is simply being a friend and a sounding board to our clients. We make it a point to establish that we’re not just financial advisors, we’re friends that can be counted on in the hardest of times. We’re that ear that will listen, the shoulder to lean on.

In the interest of time and expediency, we’ll stop here. Rest assured, however, that this is by no means an exhaustive list of people who would and could benefit from a financial advisor, nor an exhaustive list of the services we provide. If you fit the bill of someone needing financial advice, (or know someone who does), we implore you; seek it out. If you aren’t a person facing any of the life challenges listed above, we simply ask that you think about the benefit a financial advisor could provide to the season of life you’re currently in.

Our own Jeremy Joiner, CFP®, has a great analogy when it comes to financial services: “If you have a problem with your car, there’s a chance you could fix it yourself. You’d most likely have to YouTube how to do the fix, but given the time and effort, you might just get it done. But let’s be honest, you’re not a professional. You might fix one problem, but not notice another. Heck, you may even cause another. Wouldn’t you agree and feel much safer taking it to a trusted mechanic to fix it and any other problems? Financial services are much the same; you might could do it yourself, but there’s a pretty good chance you won’t do it as well as a professional.”

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