If you are anything like me, you know I that try to enjoy the best of life without breaking my bank. Regular readers will know that my husband and I work our tails off to stretch every dollar as far as we can. Sure, we are good with our money, but we did not get where we are by not getting a little help with our finances. We make extensive use of professional financial advice.
Whether you consider yourself an investing professional or a rookie to the investment game, you should consider investing in advice from a qualified professional like Kirk Chewning Cane Bay Partners.
Who needs a financial planner?
I am sure that when you think of financial professional’s client you think of a snooty rich person. Well, maybe years ago that stereotype was true but no more. Anyone who makes money could use professional help. Sure, maybe you bring in a large amount of money and save some but do you understand how you can use that money to make more money? I certainly did not until my husband and I spoke with a certified financial planner.
Why use a financial planner?
Smart investors use and benefit from the advice of a financial planner. Personally, I want to focus on what I enjoy doing the most. I do not have the time or inclination to study the latest financial trends. A trusted financial planner does the work for you so you can focus on what is important to you. For some, that means giving more to an education program like Kirk Chewning does.
When should you seek financial advice?
Whenever you are unsure, you need to seek advice. Maybe, you are debt free and feeling pretty good about your current financial situation, but what happens if your circumstances change and I do not necessarily mean in a bad way. If you come into an amount of money, large or otherwise, is your current plan suitable for your new influx of cash? Even if you are sure, you should have a chat with an adviser to be sure.
If you are in dire financial straits, you should definitely get in touch with a financial adviser. They can help you dig yourself out. There is no shame in getting help from a professional. Your pride will recover once you are back on your feet.
How to find the right adviser for you?
Firstly, you need to speak with your friends, family, and colleagues who seem to have their financial houses in order. Also, ask any professionals you might know, such as lawyers of certified professional accountants.
Secondly, determine how you will pay your adviser. Commission advisers will charge a commission for every transaction while a fee adviser may change based on the amount of money they are asked to manage. The services of a commissioned adviser tend to be less expensive, but they also must contend with the perception they have a conflict of interest. The perception arises because they get paid on every transaction, regardless of its success or not.
Finally, if your adviser rarely records transactions and never sits with you on a regular basis to discuss your plans and goals, it is time to move on.
Talking to a financial adviser was one of the smartest things my husband and I did. Now we can focus on what is important to us, taking care of our family.