The term financial adviser is one that covers a large range of professions and services. So much so that consumers may not even be sure they’ll receive advice that’s relevant to them upon seeing a financial adviser. In reality, financial advisers can lend expertise on more than just stock market investments. We spoke with a financial expert to determine what kind of consumers could truly benefit from a little advising.
“Every consumer could benefit from the advice of a financial professional in at least some capacity,” says Joel Ohman, Certified Financial Planner™ on founder of InsuranceProviders.com. “For some, a yearly review is all that they will ever need. For others, in-depth ongoing planning that revolves around important life events is the best course of action. Many people have no desire (or need) to invest in the stock market, especially when it comes to investing in individual stocks, and yet they still can very much benefit from the comprehensive financial planning that many financial advisers, particularly a Certified Financial Planner™, can provide.”
If you’re interested in finding your own financial adviser, keep the following tips in mind.
Start your search online.
“The website http://letsmakeaplan.org is a great place to search for a Certified Financial Planner™ close to where you live,” Ohman says.
Look for certification.
“Be sure only to work with a financial adviser who is properly licensed and credentialed,” Ohman warns. “Choose to work with a Certified Financial Planner™, Certified Public Accountant or other financial professional.”
Make sure they can advise you on your specific needs.
“Different advisers specialize in different types of planning (tax, estate planning, insurance, investing, etc.), so be sure to investigate any potential adviser’s areas of expertise,” Ohman advises.
Meet and discuss your options on a regular basis.
“Each client situation is different,” Ohman says, “but annual tax issues offer a great chance to evaluate options on a regular basis. Major life events are also great opportunities to discuss options with your adviser.”