top of page

Why You Need a Financial Advisor ?

A financial expert will not only help you assess your finances, but they might also help you understand the importance of saving and investing.

Financial planning is essential for anyone who wishes to accumulate wealth in the long run. But if you cannot manage your finances, then you may need a financial advisor. Now hiring a financial advisor may seem unnecessary or even pricey for some, investing in them can’t actually pay off in the long run. You may know your financial goals, but in order to help you get there, you might need a financial advisor.

These are not the only things that might give you signs that you need a financial advisor. You might be getting married or starting a family, there are definitely signs that you need financial consultation to help you get through your life’s milestones. A financial expert will not only help you assess your finances, but they might also help you understand the importance of saving and investing. We all know how much savings and investing both are essential to attain financial stability in the long run.

Now you may be in a dilemma as to what is the criteria to determine whether you need a financial advisor or don’t. Here are five important signs the may be screaming out loud that you badly need to hire a financial advisor:

  1. If you have recently inherited a large sum of money

Have one of your long term policies matured, leaving you with a large amount of money? Or have you recently inherited a family property? When you inherit money or property from someone close to you who recently passed away, there is a lot of emotional connection to such a sum. Things can get a little tricky when you suddenly receive such a large surplus in your bank account and might be startled as to how to manage this amount. You want to make a wise and smart investment decision, but since you never dealt with so much money, it is quite normal to need some financial assistance. In such a situation a financial advisor can help you create an investment strategy that will provide the right amount of cushion to your newfound wealth and help you grow that amount in the long run.

  1. You haven’t thought about retirement

The sad part about retirement planning is that most individuals only realize the importance of accumulating a retirement corpus when they near their retirement age. A majority of individuals make retirement planning an integral part of their financial plan only when they cross the age of 45. But the truth is building a retirement corpus, that may range anywhere between Rs. 50 lakhs to Rs. 1 crore depending on the standard of life and responsibilities of an individual, one needs an investment horizon of at least 25 to 30 years. Since that boat has already sailed for you, a financial advisor can suggest an investment scheme depending on their investment objective and risk appetite.

  1. You want to start investing a portion of your savings

Yes, savings always comes to your rescue in times of emergencies, but if you want your savings to remain unaffected and wish to achieve long term capital appreciation, you might have to start investing. Now that the idea of investing has come to your mind, kudos to that. However, there are literally hundreds of investment schemes out there catering to the needs of investors from different walks of life. Remember that every investment scheme carries a different risk profile and only someone with an eye for detail can help you make an informed investment decision.

  1. You get a promotion

As you make positive progress in your professional career, you will bear the fruits of financial success too. Better position, fatter pay package, you deserved it. This does not mean that now you can splurge. Remember that you need to save more and invest so that in the long run, you become financially independent. And to help you remember this in a more accurate way, you need a professional money advisor who will help you plan out your income in a better way. They might suggest some equity funds that have the potential to offer better capital appreciation in the long run.

  1. You want to initiate a start-up

Now it is quite understanding that years and years of corporate slavery might trigger you to step out of it at some point of time and pursue your real passion. It can be anything like starting a café, or starting a tour and travel agency, or a cloud kitchen. To start any business you need a large principal amount. Now knocking the doors of a bank is always an option, but a financial advisor can help you build a fund which you can use to initiate the proceedings of your new business venture.

If you have come across any of the above instances, you may need the consultation of a professional financial advisor. Do not just look at it as an expense, but rather think positively. Your finances need management and a financial advisor can help you manage your money in a better way.

Mutual fund investments are subject to market risk read all scheme related documents carefully

7 views0 comments

Recent Posts

See All

Save for Retirement and other Financial Goals

Anyone who wishes to become financially stable or is looking to build a corpus in the long run needs to understand financial planning. If you do not have any defined set of financial goals, you may en

Bluechip Fund is a Good Option for Young Investors?

Young investors should realize the importance of setting long term investment goals, especially if they are considering investing in equity related investment tools like mutual funds. Mutual funds can


bottom of page