When it comes to building wealth and planning your future, it’s helpful to have a pro in your corner. It’s a common misconception that working with a financial advisor is only for those with significant wealth and many investments to manage. The reality is that leaning on the knowledge and experience of a professional is something anyone planning their financial future should consider.

Ask yourself: Do you find yourself questioning your finances? Maybe you’re spending a lot of time searching the Internet for answers? It might be time to find a financial planner to help guide your decisions.

At Emerj360, we provide comprehensive, impartial advice, taking into consideration the full picture of your financial situation and what you have in mind for yourself and your family. Let’s take a look at 3 key considerations before working with a professional.

Ask These 3 Things Before Hiring A Financial Advisor

Do you have the time?

There are many questions to ask yourself when deciding whether to work with a financial planner. One place to start is determining whether you have the time to manage finances on your own.

When juggling your career, family and friends, and everything else life throws your way, any leftover time might be precious to you. For many, the idea of handling finances can be daunting, uninteresting, or just something you don’t want to spend your spare time doing. If this is the case for you, a financial planner can help. When you have a professional behind you, you can utilize their expertise and time to get answers quickly.

If managing your finances alone, you have to understand the entire picture. Consider your goals and how to reach them. Pinpoint your risks and configure strategies to avoid them. Be aware of the importance of planning for everything in advance, such as developing an estate plan. You’ll also need to monitor investments closely.

Life-changing events like retirement, marriage/divorce, children, and home purchases, usually create additional stress in our lives and take time.  But these are the moments when a personal financial plan can make all the difference.   Working with someone that is objective and has insights on a variety of financial topics can help you make the best decisions for yourself and your family. 

All of these considerations can be made easier if you choose to work with a financial planner who has insights

Can you commit to it?

Another set of questions to ask yourself revolve around your readiness and willingness to commit to managing the complexities of financial planning.

Maybe you are a do-it-yourself investor who enjoys different aspects of personal finance. But as stated above, it takes time and a commitment to stay on track.  There are a growing number of online resources and apps that will help, but they only take you so far and can be cumbersome to keep updated, especially as you may be trying to juggle multiple resources.  And they won’t tell you if you missed something.

No one’s financial situation is the same and no challenge has a one-size-fits-all solution. Financial planners are paid to develop comprehensive strategies to approach your situation in a customized way. They will also help to keep you on track and hold you accountable for taking actions to help ensure your financial goals are achieved.

Generally speaking, if you’re looking for advice on a topic you’re unfamiliar with, you go to the experts. That should be the same when dealing with your personal finances.

Can you afford not to?

Another common reason for the lack of a financial plan is the perceived expense in working with a financial planner to create one. 

In a recent study, respondents estimated the typical cost of using a financial advisor between 5% and 15% or more of their assets.  Fee-only advisors typically charge between 0.5% and 1.25% of the assets they manage[1].

It’s also important to note that at Emerj360, all planning services are fee-only and team members don’t receive commissions from the investments or benefit from any sales of products. We are a fiduciary, which means we are always working in your best interest.

Research has shown that a little over 30% of American’s have a written financial plan with defined financial goals[2].  Those with a plan are not only more confident in reaching their goals, but they also form healthier money management habits for saving and investing. 

Financial security and knowledge helps reduce money stressors and provide peace of mind.  Using a financial plan to know where you are going and how you are going to get to your financial goals, is worth it.

Professional Financial Planning

If you are considering a financial planner, be sure to take a look at our financial planning page. We use a six-step approach for financial planning to assess your lifestyle and family needs to develop a customized plan for your future.



[2] https://content.schwab.com/web/retail/public/about-schwab/schwab_modern_wealth_survey_2021_findings.pdf

Written By  Heather Jordan
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