What Does a Financial Advisor Do

What Does a Financial Advisor Do: Getting a Fresh Start Once Your Debt Free

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Submitted by Namit

(Contributions are guest opinions only and don’t reflect the opinion or endorsement of Money Fit by DRS, our staff, client or other interested parties.)

According to Namit, there are many reasons why you should work with a financial advisor to secure your future.

According to Namit, there are many reasons why you should work with a financial advisor to secure your future.

A financial advisor does a lot for you if you’re wondering what you can do to improve your personal finance. Do you want to lead a secure future filled with happiness? Is the post-retirement period, do you want to have a similar or better financial condition than what you are experiencing now? Yep, it is quite explicable, what's in your mind. To lead a peaceful life, you need several things including the most important one - adequate money. 

Currently, you must be pursuing a business of a job and earning handsomely. There will be expenses, some are necessary, some are for comfort, and others are for luxury. Do you think you can create wealth only through your business or job? A large number of people think that they can create enough wealth for today and tomorrow' only by doing their current job/business. Although it is an important means of earning more money, it is not the only source that would be sufficient to cater to the financial requirement of your future needs. 

We are living in a digital world that gives us access to a load of information, an array of financial growth options, and technological support systems. In fact, there are an array of ways and means you can make your money work for you.

For that you have to look at your current income, future expected requirements at different ages, your current savings, investments, etc. You have to ask yourself – Am I earning sufficiently considering my future needs? Am I spending, saving, and investing adequately? Can I make more money out of my current savings/ investments? To make money work for you, don’t you think you often fall short of taking judicious financial discussions? Don’t you think, there are other more lucrative investment options are still available? You may have some know-how about all these aspects, but to "make your money talk for you', you require to use some ‘financial expertise'.

When you are unsure about how to multiply your money or where to invest for optimal returns, you have to hire a financial advisor. They are the best people with years of experience, exposure, and expertise in proving the best possible financial advisers. They are trained professionals who understand ‘finance' better than you. They can provide you customized advice based on your income, liabilities, and future aspirations. You set your future financial goals and your financial advisor will help you in realizing it.

How can financial advisors help you?

1.      In keeping your investment plan on track

Investment is one of the best ways to multiply your money. But where and how to invest? What are the available options to invest and which ones suites your requirement? How much you should save for your post-retirement life? Are your current investment portfolio is going o fetch maximum return or do you need to rethink about portfolio diversification?

Your financial advisor can give you practical, feasible, and best possible answers about the above questions. If you’re current investment (either the quantum of the amount or the type of portfolio) is less than what it should be to give you enough money in a post-retirement period then its time to take consultation from your financial advisor. He will bring you on track.

2.      In advising you holistically, not only on investment

Some of you might be thinking about the prime job of a financial advisor is to invest your money. In reality, including investment, they do provide consulting advise on various other financial aspects that are both important and financially beneficial. A financial advisor can advise you on the following financial matters:

a)      Shuffling your investments 

Most of you must have invested in different kinds of investments—bonds, real estate, mutual funds, cash, gold, etc. The financial advisor keeping your long-term and short-term requirements shuffles your investment portfolio. He/she may do it by closing some investments, opening some new, and putting more/mess amount in specific investments. The advisor, keeping market trends and other financial indicators in mind and accordingly ‘reshapes' your portfolio so that you get maximum out of it. He/she will provide you judicious advice on where to put more money and where to put less. 

b)     Personalized Tax planning 

You must be paying different taxes including Income Tax as an employee or a businessman. If you are not aware of tits and bits of different taxes then the possibility is there, you may be missing some tax saving options & opportunities or maybe you are investing where taxes are hefty. 

c)      Customized Estate planning 

Nobody knows when their light of the life" will be switched-off permanently! As you are putting a lot of effort in earning money and managing your wealth, what will happen to that wealth if something happens to you? Here, your financial advisor, in consultation with the estate attorney can ensure that your wealth gets distributed among ‘specific' persons and their percentage of share. 

d)     Health care planning 

In your post requirement days, you are going to expend the most in your long-term health care purpose. Considering more chances of health complexities during this age and corresponding health care expenditure, you should be prepared for those long before you retire. Huge medical bills will ‘eat away’ all your saving in a few months. You can take the help of a financial advisor in this regard who can help you in your long-term health care planning.

3.      ‘A hammer knows how to strike the best’!


This is the age of ‘professional-specialists’ who are there in each and every field of knowledge. If you are a civil engineer then you know how to build a bridge better than, say, the Hon. President of your country. Your chef knows how to blend a spice better than your wife. Although, you may feel you have knowledge about these financial aspects then ‘re-scan’ yourself. Chances are there you are missing different opportunities or paying away more income tax because of your bad investment portfolio. The crux of the story is:- You require professional help in the form of a financial advisor. After all –A hammer knows how to strike the best!

4.      Professional support saves your time and hassles

Many people who are educated and internet savvy have some sort of knowledge about financial planning but are that sufficient. There are other chunks of people who are totally unaware of ‘ABC' of financial planning. Both groups need the help of a professional financial advisor to streamline your finance. Paying a moderate amount of fees you can transfer all your worries, stress, and apprehensions to the advisor. You can also save your precious time which you can utilize in more productive ways.


Financial advice is utmost required if you really want to make your later life financially secure. A financial advisor, being a trained professional knows how your money should be best utilized now. Taking their help will provide you to maintain your financial portfolio optimally that will ensure that you fulfill your goals.

Author’s Bio:

Namit is fond of reading, writing & meeting people. He loves writing about Spend Management Software. In a former life, he worked as a content specialist and has good knowledge about finance.