Should You Hire A Financial Advisor?

With the age of the internet, many are visiting financial advice website when they need to know something related to their finances. With the amount of information provided on the internet, one does not have an idea whether they still need to hire a financial advisor or to just research things on their own.

According to University of Mississippi School of Law’s professor, Mercer Bullard who is a securities specialist, it is important for someone to get a compete idea of what their financial standing in life is. This is most important before undergoing major changes in life such as getting engaged, having a wedding or planning for a baby.

Harris and Harris Wealth Management’s president, Zaneilia Harris who is a professional financial planner, said that it does not matter if it is still years away. Getting a financial advisor at the earliest possible time is better. She added that ones you think that your dating relationship is getting more serious, it is time to pay a financial advisor a visit. This is essential because many relationships have been broken because of disagreements when it comes to money.

Harris explained that having a financial advisor is like having a third party in the decision-making but with a neutral stance. They are the ones who will make sure that all documents for estate planning are in order, that childcare is arranged for the baby and who can work while the other stays at home if the couple decides to do so. If you are planning to make a prenuptial agreement, your financial advisor will be happy to help as well as teach you the changes in tax status as you shift from single to married.

In case of life changing events such as a promotion with a big raise or an inheritance, the financial advisor will make sure that you do not spend that money on something unnecessary out of impulse. This is something that can be done by a financial advice website but talking to an actual financial advisor is important. These websites are only effective if there are actual financial advisors talking to clients in real time.