Why you should engage a financial advisor?

Published On: 01-Sep-2017

Blurb: Financial advisor helps you to identify your goals and suggests a financial plan that can achieve your goals.

Double whammy of stressful lifestyle and junk food habits make many millennials go for a gym in search of fitness. Gym gives them an environment conducive to achieve their fitness goal. To achieve the goal of fitness in less stressful manner, many opt for the services of gym instructor. And the professional touch of a gym instructor makes fitness plan work better for the individual. What holds good for a gym instructor; also holds good for a financial advisor.
 
 Here are some reasons why you should engage a financial advisor:
 
Expert handholding: Think of your financial goals. Say your child’s education - how to save Rs 50 lakhs over next 20 years for a degree overseas? You may choose to do it yourself. You may analyse all investment options, decide on mix of investment strategies and choose investment products. But are you sure if they suit your needs? Will you keep a track of their performance in dynamic financial markets?
 
The questions can go on. A better approach would be to engage a financial advisor who will suggest right investment mix and better investment products that suit your needs. When he tracks your investments, you get to enjoy your life. The same way your gym instructor keeps the next fitness module ready when you are done with your existing regimen.
 
Holistic approach: Many times our goals look very simple and come with obvious sounding solutions. But there are many moving parts in our life – uncertainties pertaining to our income, risks such as premature death or morbidity, change of preferences at our end. To add to this, globally integrated financial markets keep throwing many surprises. We may fail to account for all these risks due to our biases. Financial advisor, however, can help you take a complete financial planning approach to overcome most situations and achieve your goals.
 
It is akin to your gym instructor who not only focuses on your weight training, but also prescribes you a session in meditation and a balanced diet.
 
Unemotional: Most individuals find it difficult to keep emotions away while investing. When the markets are on the way up, many of us find them interesting and want to add more to their allocation to equities. However, this may not be the best thing to do at that point of time. Financial advisor can raise red flags and helps us to remain on the right path.
 
There are times you do not feel like hitting your gym floor. But a word with your gym instructor motivates you to start your workout.
 
Why prefer professional over books: There are many books, websites and media that speaks about investments. But you still need a professional. There is so much information about fitness and healthy living, but still you need a gym instructor. We do not treat ourselves after reading books and periodicals on medical science- we go to a doctor. To ensure the professional touch to your money matters, opt for a financial advisor. Financial advisor assesses the current situation of the individual and suggests a financial plan that ensures achievement of all his short term and long term financial goals.
 
A financial planner is a multi-faceted professional for you. He can be a tax-planner, financial counsellor and a financial psychiatrist. You can also share your concerns with your financial planner. Financial advisor not only makes a plan but also keep reviewing it regularly and suggest corrective actions wherever required.

To check your Financial Health with our Financial Health Checker. Click here

Just like a gym instructor who ensures that you achieve your fitness goals and a family doctor cares for your health, you need a trusted financial advisor to create wealth. Partner with one!