Career & Money

How Do I Know If I Need A Financial Advisor?

Brandon Chase
By Brandon Chase |Fort Worth, Texas

Do you do your hair yourself?  Do you repair your own car?  Would you ever consider fixing your phone or computer?

We hire all kinds of professionals to help us with tasks in life because they are the experts, but sometimes we are hesitant to hire a financial advisor.  Maybe we think we don’t have enough money or it costs too much.  Hiring a professional can help us select the right portfolio, take on the right amount of risk and navigate changes in our lives.

As women, we especially need to consider hiring a professional to assist us in reaching our financial goals.  Generally, we earn less and take on more caregiving, therefore we need to make our money work just as hard as we do.  Here are three times we absolutely need to reach out to an advisor for a third-party review.

Transitions

Job change, divorce, loss of a spouse; any of these types of changes are a good time to reach out to a financial planner.  As you are going through a major life change no matter the cause, it is a good idea to build a team of professionals for support.

A financial advisor can first help you understand your current financial situation and with you build a plan for the future.  How much do you need to earn to meet your current standard of living?  What are your goals for the future?  How have those changed and what do you need to change in order to meet them?

Leaving A Legacy

So many times, we earn and save, earn and save our whole lives.  We build up a nest egg and then think, “what am I going to do with all this?”  Of course, you need to ensure your health and day to day expenses, but if you have been a diligent saver what else do you want to do with your money?  Many individuals and families look forward to the next generation.

A financial planner can support you in mapping your plan to leave a family legacy.  Considering the ages of your children and grandchildren, what type of planning makes sense?  Is education vitally important to your family?  Do you want to travel the world or possibly leave the family farm to the next generation?  By discussion these goals with a financial advisor (and possibly your legal counsel), you can make wise tax decisions and maximize the benefit for future generations.

Charitable Giving

Do you have a special cause close to your heart?  Planned charitable giving not only benefits your favorite charity, it can also be a financial planning tool.  Leaving stocks or property can be advantageous to the charitable organization and part of your overall estate plan.  Working with a financial advisor can help you achieve your goals.

Working with a financial advisor can be beneficial at every income level.  Planning during life transitions, establishing a legacy for your family or creating opportunities for charitable giving are times when financial advisors are able to leverage their expertise.  Consider a financial planner as a member of your professional team.  Once they understand your goals and passions they can work with you to develop a comprehensive plan for financial success.

 

Brandon L. Chase, CFP®, CDFA™

First Vice President, Investments

brandon.chase@raymondjames.com

beaconhillwealthservices.com

Opinions expressed are not necessarily those of Raymond James & Associates. Information contained was received from sources believed to be reliable, but accuracy is not guaranteed. Investing always involves risk and you may incur a profit or loss. No investment strategy can guarantee success. Past performance may not be indicative of future results.

Brandon Chase
Brandon Chase |Fort Worth, Texas
In his role, Brandon is absorbed in helping clients see, and remain emotionally focused on, the “whys” of what they plan to do. This emphasis allows Brandon and Brandy’s stewardship to encompass people, relationships, emotions, dreams and values – as...Read More
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