Is A Financial Advisor Worth It? How To Find The Right One! | Clever Girl Finance #Finance

hey everyone this is bola schokubi i’m the founder and ceo of clever girl Finance and i’m also the author of the clever girl

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance book series welcome to clever girl Finance tv so i

get asked pretty often about how to work with financial advisor where to find a financial advisor and what they actually do for you so in this CashNews.co i’m going to be talking about all of that and i’m also going to talk about the different types of financial advisors but focus on

human financial advisors before we get started i would love for you to hit the like button and subscribe to this channel if you enjoyed this CashNews.co and be sure to tell all your best girlfriends about clever girl #1a73e8; text-decoration: none;">Finance because we are trying to grow our platform and also stop by our website at clevergoFinance.com to check out our over 30

plus completely free courses and follow us on instagram so let’s get into the CashNews.co so first of all what is a financial advisor well a financial advisor is a professional who provides advice and guidance to their clients on what to do with their money and they’re typically

required to have specific training and licenses or certifications for their job role there are also different types of financial advisors the two most popularly discussed ones are the robo advisor and the actual physical or online human financial advisor so a rover advisor is a digital financial

advisor established by a Brokerage that leverages algorithms to provide you with financial advice and to execute a financial strategy on your behalf and there’s typically no human interaction unless you pay for that next level of service human advisors whether they are in

person or online are basically human beings so there is a more hands-on approach and you have the opportunity to build a relationship with a human financial advisor as you work through your money goals however when it comes to working with a physical human financial advisor this typically comes

with fees and payments to retain their services so we’ve talked about types of advisors but what kind of Financial Advisory services do these advisors offer specifically so some of the services that financial advisors offer include guidance on how to save and how much to save

what financial accounts you should have what services you might need for example Insurance and what Investments to make based on your goals so those are a few of the services a financial advisor could offer to you people also typically want to know how much does a

financial advisor cost and it really depends on the payment structure that the financial advisor has in place so for example you may pay a financial advisor based on a flat fixed rate based on a percentage-based rate where they charge a percentage of your Portfolio or based on an

hourly rate so if you’re thinking about a financial advisor when do you actually need to find one right when is the right time to go out and look for a financial advisor number one would be when you cannot figure out your financial situation on your own and you need guidance or expert help to

help you create a plan or navigate a certain situation and number two could be when you’re just starting out on your personal Finance journey so a financial advisor can

help you learn about the Stock Market about retirement planning about tax planning about Budgeting etc so another time when you might want to consider a financial advisor a physical advisor is when you have complex financial situations so let’s say you have

complex tax situation or complex investing situations you might need to get a financial advisor to help you work through them this could also include complex family matters and just multiple sources of Income that require another set of eyes to help you create your financial plan

so when don’t you need a financial advisor well you might not need a financial advisor if your Finances are fully automated because there’s not much for them to

do for you however they could still provide insights on your long-term plan and give you certain guidance but you may not need to have a financial advisor on retainer or someone that you work with on a monthly basis if you’ve been able to figure out your

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finances on your own and you have everything fully automated you also don’t need a financial advisor if you need specific tax help yes financial advisors are able to help you with

future tax planning and guidance so when it comes to specific tax situations for example filing your Taxes you want to work with a certified accountant and sometimes these roles can overlap i’ve seen instances where accountants also have Financial Advisory

certifications but you want to make sure you’re going to the right person for your specific tax needs so let’s say you want to find a physical in person or even online but human financial advisor what should you be looking for specifically well here are some things to keep in mind

number one you want to find out what is their fee what is it going to cost you what is their payment structure this would help you keep in mind what you’re going to have to pay this financial advisor and build those payments into your budget if they’re going to be charging you based on

the percentage of your Portfolio you want to really understand how that percentage breakdown works the second thing you want to know is if they have the right credentials and certifications and when it comes to Financial Advisory services credentials really do

matter when you sign up to work with a financial advisor you’re putting your hard-earned money into their hands and you want to make sure they have the right training the right education the right ethics to help you achieve your goals so for a financial advisor this would mean that they have

successfully completed the requirements and licenses of the financial industry regulatory authority which is finra if you’re looking to work with a financial planner specifically you’ll want to work with someone who has the cfp certified financial planner designation and again this will

mean that that individual has fulfilled the cfp board’s requirements around ethics training education and etc other thing you want to think about or find out is if you will work well with them and so it’s okay to schedule a meeting and have a conversation and even interview the

potential financial advisor that you are considering this person is going to be dealing with your money you want to make sure that they understand your goals you want to make sure that you actually like them and you want to make sure that you can build a relationship with them and feel comfortable

communicating with them so now that you know what financial advisors do things to keep in mind when you are looking for one the next question i get asked pretty often is where do i find a financial advisor specifically a human financial advisor so most people find their financial advisors through

personal referrals and this is because people want to work with people that people they know trust right and so that is a great place to start asking friends families colleagues about their own financial advisors if they work with one and getting their personal feedback on their relationship

another way to find a financial advisor is from online reviews and looking for financial advisors in your zip code and looking at those online reviews and customer feedback this is a great way to learn more about advisor and even vet that advisor for yourself you can also visit your local bank or

reach out to your financial institution to determine if they offer Financial Advisory services and look into the services that they offer to see if they will work for you and finally a great place to find a financial planner is at cfp.net this is the certified financial planner

website that can pair you up with a financial planner in your own zip code so a financial advisor can certainly help you and guide you when it comes to your money and making financial decisions however you want to make sure that you pick an advisor that works for you and that before you have a

meeting with an advisor before you select an advisor that you are clear on your own goals and your own objectives and you know what you want to accomplish with your money because really a financial advisor’s place is not to decide what your goals should be you should be clear on what your

goals are that way they can work with you and you can make sure that you are achieving your goals with them so make sure you’re working with someone that you trust ask questions read the reviews ask for referrals and make sure that you feel good about this person that you’re trusting

with their hard-earned money so do you work with a financial advisor share in the comments and tell us how that experience has been i hope you guys have enjoyed watching this CashNews.co if you have please subscribe to this channel hit the like button tell your best girlfriends about clever girl

Finance and be sure to follow us on instagram clevergirlnone;">Finance and stop by our website at clevergirlFinance.com to check out our over 30 plus completely free courses i’ll talk to you guys next time

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