Why should you hire a financial advisor?

We all try to do things on our own and, sometimes, we accomplish what we want to do.

After all, the internet is a limitless vault of information. You can find out how to self-treat a medical condition, cook a complicated meal or teach a difficult concept to your children. The resources we have now were not even a dream barely a decade ago.

However, even the internet has its limits. You can’t do surgery or play outdoors or hug your spouse through the internet. Thankfully, we still need other humans for certain activity.

It is also that way with financial advice. You can look up any financial advice you want on the internet, join a financial Facebook group or subscribe to a newsletter. They may help you with current trends or personal experiences, yet, they cannot give you full, unbiased advice that you need for your financial situation.

In fact, they may even give you the wrong advice which could cost you dearly.

Furthermore, financial advisors are not that expensive. According to www.NerdWallet.com, the average financial advisor costs between $1,000 and $3,000. That is a paltry amount compared to the losses you could experience.

Sometimes, you need to meet with someone who can analyze your finances, hear your goals and give you a plan for the present and future. Here are three reasons you should consult an experienced financial advisor:

  1. Your financial future is too important: The market place has seen enormous highs and lows in the past ten years. The United States economy went through a long, damaging recession. People who had their investments in trendy products lost thousands even millions of dollars. Also, people who didn’t plan for a downturn at all suffered greatly and may still be recovering. We see clients who may have invested based on what they heard about on television or read on an internet forum or website. Unfortunately, their finances were damaged deeply. You and your family can be protected by realizing that investing, budgeting and accounting, whether personal or business, need the advice of a trained and experienced financial counselor. Smart financial decisions made now may positively affect you and your family or business for years to come.
  2. An impartial third party is needed: Sometimes when we are deep into something we don’t see potential issues or future problems. It’s like the old cliché: “You can’t see the forest for the trees.” Finances are a common example of partiality. You have a spending routine which seems normal but when examined by a financial advisor, it could be costing you, dearly. An impartial, experienced financial advisor will spot the excesses, missteps, and dangers ahead for you and steer you in the best direction. If you’re lucky, you may get affirmation that you are also doing some things right. The bottom line is this: We all need direction and a financial advisor works with you to make a plan that’s best for you.
  3. Dealing with money is a pain: “I hate dealing with money and I need you to do it for me!” That is a popular refrain from clients. Payroll, budgets, taxes, accounting, bookkeeping, inventory…the list seems endless and to many, too time-taking and tedious to do on a regular basis. They become frustrated and angered from dealing with it. A financial advisor can either recommend an accountant or they may have a license to do it for you. If you have a busy life and have no desire to do it, hire a financial advisor to do it for you. They love this stuff and can take it off your hands.

Your investments today power your future tomorrow. How do you know what’s the best investment for you and your family? A licensed, experienced financial advisor can give you professional advice based on your unique finances. If you haven’t hired one, now is the time. Your family’s economic future is too important.

The financial advisors at A. K. Burton, PC of Bethesda, Maryland, can help your family and your business make smart financial decisions. We will listen and work with you. Call for an appointment at (301) 365-1974 or email us at info@cpamaryland.com.  

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