10 Reasons You Need a Financial Advisor


Have you managed your own savings and investments in the past? Are you now considering professional help? Don’t go it alone!

Here are ten benefits of working with a financial advisor.

1. Save Time

Although there is a plethora of investment information on the internet, too much information is not necessarily a good thing. How do you determine what information is good? Do you have the time or the background knowledge to sift through this vast amount of material? A good financial advisor can do all the heavy lifting for you, so you can spend more time doing what is most important to you—living life.

2. Less Stress

Life is busy. There’s no doubt that your day is full of stressors. Working with a financial advisor can help alleviate some of those worries.

3. Accountability

Let’s be honest. How many times have you made a plan with the intention of sticking to it, but then failed to follow through? It is much easier to lose steam or run off course when you are doing something complicated by yourself. In any endeavor, it is beneficial to have an impartial third party available to hold you accountable. Your finances are no exception. A trusted financial advisor can be that impartial third party you need to help you stay on track.

4. Trustworthy Financial Advice

One of the biggest concerns people mention about financial advisors is trust. They may have questions about whose best interests will be given priority. People who are Registered Investment Advisors (RIAs) are held to strict fiduciary standards, which means that the law requires them to always put their client’s interests first. They are also required to disclose every method in which they are compensated.

5. Exclusive Access to Investments

You may not have access to all possible investment options if you don’t use a financial advisor. For example, there are certain mutual funds that are only available through an advisory relationship. Working alone, you wouldn’t have access these investments. A reliable investment manager will have their investment committee regularly screen these exclusive options to determine if they are suitable for you.

6. Experience

Experience really is the best teacher. A good financial advisor has weathered the ups and downs of the market and other various investment vehicles, time and time again. They have also seen people who go it alone. Those people make the same mistakes—time and time again. An experienced advisor will be able to discuss your wishes and provide insight and guidance that you simply cannot get when you go it alone. Relying on a trusted financial advisor can also help you avoid generalized investment advice and schemes that may not fit your specific needs.

7. Tax Planning

One of the most important (and often overlooked) factors in successful investing is proper tax planning. A financial advisor can structure your investments in appropriate accounts so that you can maximize tax savings. They can also guide you through complex tax strategies that you should not attempt on your own, like tax loss harvesting. Trusted advisors will also help you avoid tax penalties by making sure you don’t withdraw money from the wrong account at the wrong time. At White Oak Wealth, we work closely with our CPA to make sure all of this is handled correctly for our clients.

8. Be More Prepared for Market Fluctuations

A financial advisor is also highly skilled when it comes to market fluctuations. Thus, they are well-equipped with the tools and strategies you need to keep your investments on track. I do not believe that it is feasible to try to time the market, and a good advisor will remind you that jumping in and out of the market is extremely risky. Historically, most who attempt to time the market will miss the high points, thus receiving a reduced return on their investments.

9. Market Savvy

Part of a professional financial advisor’s job is to constantly keep abreast of market changes. Not only that, they strive to be aware of specific details that can affect your individual investments. A trusted advisor will help you stay up to speed on market conditions so you can make better decisions.

10. Transform "Hopes and Dreams" into Goals

All of us have goals and ideal lifestyles that we want to attain, but most people don’t have a step-by-step strategy in place to help them achieve their aspirations. A financial advisor can help you isolate the building blocks you will need to help you build the life you want.

What are your dreams? I have found that by talking to clients about their dreams, I can help them make informed and educated decisions about whether or not they are on track to reach their goals. Through this planning, we build confidence and help clients take that next step, whether it be by changing jobs, becoming self-employed, or finding the right time to retire.

Contact a Financial Advisor

If you are interested to learn more about how we can help you reach your goals, please schedule a time for a complimentary review call, HERE!

Schmitz, Christine R., “10 Reasons You Need a Financial Advisor: Financial Planning Tips.” Glass Jacobson Financial Group, www.glassjacobson.com/blog/10-reasons-financial-advisor/.

*Updated/edited by Diron Insley CPFA®RICP®, Principal of White Oak Wealth on 8/25/2021.