Ask an Advisor
Have a question about finance?
What is the benefit of working with a financial advisor?
Everyone could use some direction and advice when it comes to their financial affairs. The days when our parents and grandparents retired on company pensions and social security are no longer here for many of us who live in high cost metropolitan areas. We are increasingly responsible for our own retirement nest egg, which on the surface is a very daunting prospect. Many of us also face the challenge of educating our children, taking care of aging parents, AND having enough money leftover for an enjoyable retiremen...
Alexey BulankovChartered Life Underwriter, Chartered Financial Consultant, Accredited Asset Management Specialist, Enrolled Agent, Certified Financial Planner
The internet has made information readily accessible. Your advisor is no longer “an insider” privy to any “hot tips” or ideas which are not already public.
However the sheer amount information is hard to digest and sort. Advisor’s experience and knowledge of your background should serve as a filter, separating noise from signal and distilling only the timeliest information which is useful and relevant to you personally.
You should work with advisor for the same reason you buy your coffee at a coffee shop, instead f growing, harvesti...
Bonnie SewellCertified Financial Planner, Certified Divorce Financial Analyst, Accredited Investment Fiduciary
If discipline is destiny (and in personal finance, it's certainly a big piece), an advisor can be the discipline in the picture. For example, an advisor will recognize a need for 'taking a flyer' and suggest you put a small amount aside (that won't impact wealth) so you can practice investing on your own. An advisor will recognize your need to pay off your home and even if mathematically it makes more sense to leverage it, they will understand your need to have it paid for.
In a nutshell, your advisor is your guide, ...
A good financial advisor brings to the table both experience and perspective.
Experience - I've devoted over 2000 hours a year for 10 years to understanding, analyzing and managing personal finance issues. Compare that to what you can devote to the cause on top of your day job, family and life commitments.
Perspective - Our brains are not wired particularly well to make great financial decisions. Emotions drive more than 90% of your choices and they tend to cloud your better judgement. An advisor isn't as emotionally entangled in ...
Have a question about finance?
- What percentage of my salary should I save in my 401k?
- I am 54 and have inherited $1,000,000. How many years can this sum last me?
- Is a 0% APR car loan too good to be true?
- I have $25,000 in credit card debt. I keep getting mail from Best Egg. Should I combine my credit card debt and get a loan from...
- How do I obtain a CPN number? Is it legal? If so, should it be used for a business or personal use?
Information is provided 'as is' and solely for informational purposes, not for investment purposes or advice. NerdWallet is not endorsed by or affiliated with FINRA. The helpfulness of an advisor's answer is not indicative of future advisor performance. NerdWallet does not endorse any particular financial advisor and cannot guarantee the quality, or reliability of any financial services provided by any of these financial advisors on the Ask An Advisor platform. Any financial information provided by an advisor and related to the provision of healthcare service is intended to promote broad consumer understanding and knowledge of third-party coverage for those services, and is not professional medical advice, diagnosis or treatment advice. Always seek the advice of your physician or other qualified healthcare provider with any questions you may have regarding a medical condition or treatment. NerdWallet does not recommend or endorse any specific physicians, products, procedures, tests, and reliance on any financial information related to healthcare coverage for products, procedures, and tests is solely at your own risk.
Disclaimer: NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our financial services tools, blog content and reviews are based on objective analysis. For more information, please see our Advertiser Disclosure.