Do You Really Need a Financial Planner?


Investing advice can be hard to find. While there are plenty of online resources, they’re written for people of very different skillsets and backgrounds. After all, the kinds of investments a twenty-something fresh out of college wants to make look very different from the investments a retired professional will want to make.

If you’re looking for sound ways to invest your money, you could try to go it alone and use online resources to guide you. Or, you could opt to use a financial planner to help craft an individualized plan for your money. Which way is best for you?

But Do I Need a Financial Planner?

The short answer to that question is: maybe. If you have really complicated finances then you probably want a financial planner. Also called financial advisors, financial planners could be specialized into a variety of roles–or you could look for a general planner. In short, a financial planner helps you to take stock of your finances, establish your immediate and long-term goals, and crafts a plan to meet those goals.

If your finances are simple and you don’t have much (or any) money in savings, you probably don’t need a financial planner. After all, if you’re not doing much investing with your money anyway, then something like a personal budget could be more helpful than a professional planner.

How to Choose a Planner

There are a lot of options for financial planners out there. There are tons of companies that offer general planning services, like Trinity Financial advice. It helps to think about what you’re planning for. Often, the best time to get a financial planner’s help is when you’re about to experience a big change in how your life and finances are organized. For instance, if you’re changing jobs getting married, or acquiring ownership of a plot of land or company, then those are all great times to reach out for help.

Pick a financial planner that is specialized in the field you’re most concerned about. Maybe you’ve inherited a large sum of money from family and you’re not sure what to do with it. An investment planner could help you find ways to turn that sum into a retirement nest egg for the future.

If you’ve got sizable funds that you want invested, you could also hire someone to manage your assets for you. These planners will actively manage your investment portfolio for a fee. They can be a huge help for people who come into a sum of money and aren’t sure what to do with it. Just make sure the person you get to manage your portfolio is a fiduciary: someone who is obligated to act in your best interests.