Chartered Financial Planners

What are the Benefits of Hiring a Financial Advisor?

Posted By on May 20th, 2021 in Blog, Financial Advisor, Financial Advisor Farnham

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Everyone would, technically, benefit from hiring a professional advisor, but often the cost is prohibitive for many. That being said, there comes a time when the cost of hiring a financial advisor would definitely be outweighed by the benefits. So, how do you decide when that time is? And what are those benefits?

When Might you Hire a Financial Advisor?

There are 3 main reasons you might hire a financial advisor. 

  1. You are feeling lost whilst trying to plan for your financial future, and you feel you want a roadmap or some form of guidance.
  2. You don’t want to deal with the money, you’re not money minded, perhaps you can’t really be bothered,  and you just want a professional to take care of it.
  3. Your finances have suddenly become more complicated perhaps because you have inherited some money or taken a new job with a considerable pay rise or pay cut.

The Benefits of Hiring a Financial Advisor

  1)  Realistic planning and goals

Setting goals is one thing, but having a financial advisor to tell you whether these goals are realistic, and keeping you on track to achieve them, is much more beneficial. A financial advisor may find out that you don’t have any retirement savings, or investments, and they will be able to point out the importance of these, before putting you on a path to secure these.

 2)  Saving your own time

Our financial advisors in Farnham will tell you first hand that it takes a lot of time to go through investment plans, do the number crunching, and planning. Time is a luxury for most, and instead of wasting your own time stressing over this you can leave the hassle to a financial advisor. This frees up more time for you to do the things you care about.

 3)  Minimise stress

Not only is financial planning time consuming, but it is also stressful, you need to factor in potential losses that may put a major dent in your bank account. When you are stressed, you are more likely to make mistakes, which can cause even more problems and stress further down the line. It’s best to take the least risking, and least stressful approach and leave this to a financial advisor. 

 4)  Minimise self-bias

When you are in charge of your own finances it is natural to be biased toward yourself and your own situation, whether this is consciously or unconsciously. When you are trying to improve your finances it is not ideal to have this bias. Hiring a fresh pair of eyes to help you evaluate your finances is the best option.

If you are looking for help with your finances, at GQI we have a team of financial advisors in Farnham, who are ready to help your finances flourish.

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