How You Know You Need a Financial Advisor

​There are people who insist on managing everything themselves, and there are people who allow others to blindly manage everything for them.  Where do you lie on the spectrum?  Hopefully, somewhere in the middle.  When it comes to money management, taking your post as a bookend can lead to trouble.  The truth is, the brightest among us are the successful and content who already have a financial advisor.  Maybe it appears as if they don’t need one, but guess what, they’re smart enough to have one.  Know where you stand.  If you’ve got it all figured out on your own, you don’t even know where to begin, or you’re not sure what your money is doing consult an advisor. 
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Let Go, and Let Your Advisor 
 
So, you’ve identified with your position as a bookend. You have a plan for the future.  Your earnings are up.  Financial mistakes are at a minimum.  You’re managing it all on your own.  Why involve an advisor?  Much to the dismay of any type-A, life isn’t always fair and the inevitable curve balls will be thrown when you least expect them and, “gasp!” when you’re not prepared.  A financial advisor can help keep you grounded with unemotional and impartial guidance.  Families don’t always expand on a carefully planned timeline.  Your young adult may attend the college or university of their choice, not yours.  Job loss, career change, volatile market conditions, and unforeseen health related circumstances can fracture the best of us.  A financial advisor will keep you flexing within your plan.  While you are busy building your own success within your career, an advisor is working for you by keeping ahead of your finances in a way you can’t. 
 
An Advisor, Your Compass 
 
Life is chugging forward and you’ve been dabbling here and there creating a patchwork plan, which is evidence of your willingness to make wise decisions, but also your lack of time and knowledge to do so independently.  Maybe you contribute to a 401K and a 529.  You have life insurance and a money market account.  You’ve been acquiring some real estate, but you’re not sure of the best way to handle such an investment.  As you evaluate everything you’re doing, you wonder if your money is working hard enough for you.  An advisor can direct all of your efforts.  Effort alone does not guarantee returns.  With an advisor educating you along the way, you will maximize what you’ve been doing so far and lay a more defined path forward ensuring stability and security. 
   
At the Starting Line 
 
You’re simply young and not sure where to begin when it comes to managing money and making financial decisions.  You may be feeling green, but you are in the best position to benefit from consulting a financial advisor.  Time is on your side, and endless opportunities await.  It is a lot easier to start out with an advisor’s guidance on what to do with your less than spectacular income as a recent college graduate, than it is to fix costly errors as a parent with two toddlers.  Do not delay.  Build a relationship with an advisor who will educate and encourage you on best financial practices. 
 

The bottom line is no matter who you are, how much your net worth is, or what stage of life you’re in a financial advisor can only improve upon what you’ve been doing so far.  So stop going it alone, doing it all on your own, and wondering why there is always that next level just out of reach.  Cement your future with an advisor today.    ​

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Christopher Girbés-Pierce CFP® is the Founder of Enlightened Wealth Management, a fee-only wealth management firm located in Santa Monica, CA. EWM specializes in providing comprehensive financial life planning services for clients who wish to align their financial resources with their goals and values.