When is the best time to hire a financial advisor?

Managing your assets has become increasingly stressful on your own.
You are unhappy with your current advisor.
You want to collaborate with a financial professional before making major financial decisions, such as deciding when to retire.
You realize you have handled most (if not all) of your investments, and your spouse needs someone they trust and can turn to for help if they outlive you.
You receive a significant inheritance.
You retire or change employers.
You need help deciding when to start your pension or if it’s better to take the lump sum payout.
You have a large amount of cash, such as after selling property or a business.
You want advice on a tax planning and tax minimization strategy for managing your investments.
You lack confidence in your current financial plan and want to know what you don’t know to help remove uncertainty and bring security.
You are going through a life transition, such as a divorce or the loss of a spouse.

Why consider hiring a financial advisor?

You’ve probably heard the quote, “If you want to go fast, go alone. If you want to go far, go together.”

Making decisions with a trusted financial advisor has proven time and again to provide better outcomes than making decisions without a financial advisor. Please don’t take our word for it. Just search Google (or a different search engine if you prefer) with the phrase, “How much better returns do investors get with a financial advisor?”

Here’s an article from the Wall Street Journal referencing a study done by Vanguard, which found that “advisors can potentially add 3% or more to a client’s net investment returns by picking cost-effective investments, behavioral coaching, and more.” You might be surprised to see how much faster investments can grow over time with an annual 3% increase!

Consider asking a friend who has hired a financial advisor why they hired one. While you’re at it, check out our Google reviews online, where many of our clients share why they hired us.

You want a financial advisor to manage your wealth and plan your retirement, but in the end, you get so much more than that. Check out the chart below created by Morningstar, which shows the emotional and financial reasons someone might hire a financial advisor. Their data show that comfort is a key driver when clients select advisors. To learn more, read the article by Morningstar titled, Why Do Investors Hire Their Financial Advisor?

Top Reasons Clients Hire Their Advisors

The graph below shows the five most common reasons for hiring an advisor. Each bar shows responses that fit into each category. The bars are color-coded for reasons based on either emotion or finances.

*Morningstar surveyed 3,003 investors to analyze the reasons behind clients hiring a financial advisor.

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If you are looking for a financial advisor to help you plan and reach your retirement goals, please reach out to schedule an intro call to get started.