Why You Need A Financial Advisor

Knowing how to build wealth is not a secret: Increase your income or decrease your expenses. The problem is, the wealth of information on Google doesn’t fix your problems for you.

A financial advisor can help you make sense of all of these tasks. Holistically examine your financial situation and help you craft a financial plan to ensure you make decisions that are in line with your financial goals

So what’s missing?

A financial advisor will focus on fundamental financial issues or habits to change behaviours surrounding money. Help you organise and simplify your personal financial situation, provide encouragement and keep you focused on your goals. The focus is not on how much money you have but rather helping you to keep and grow the money you make. At the same time, simplify the entire process. 

What services do financial advisors offer?

Professional financial advisors carry out a ‘fact find’ where they ask you detailed questions about your circumstances, your goals and how much risk you are able and prepared to take with your investment. They may recommend financial products that are suitable and affordable for you.

Are you tired of the financial stress but don’t know how to fix it?

So allow yourself to imagine for a moment:

• What would be possible if you could have all of your financial questions answered?
• How would your life be different?
• What would now be possible in the realm of your finances that wasn’t possible before?
• What is that financial future worth to you today?

The important principles of investing are understanding what risk really is, the most significant risk is not investing at all, for the most part, people understand risk as taking a capital loss when invested in stocks and shares but the real risk is inflation this will erode your purchasing power over time. Everybody wants more money, but most people don’t know how or have the accountability to follow through and achieve their goals. The single biggest way a financial advisor can add value up to 1.5% per year of increased annual returns is through something called behavioural coaching.

Procrastinating

Some of us procrastinate and think we are waiting to make the best possible choice at the best possible time, which is quite impossible, maybe you hide your head in the sand and don’t actually think about it. Generally, we feel anxious especially if we don’t know our personal financial goals or how we can start to plan for them. We all have a sense that we need to do more and feel we need to make our money work harder. My job is to help clients overcome these fears making rational choices with a long term time horizon in mind.  

Here are the reasons why you’d want to work with a financial advisor

• Understanding your financial level of risk
• A plan to accomplish your goals
• Avoid mistakes 
• Tax-efficient plans
• Biannual financial reviews
• Stay on track  

A financial advisor can provide encouragement to help you push through in times of doubt to ensure that you remain true to your plan. Celebrate small wins, in the form sticking to a budget or spending plan, paying down debt and positive changes in your behaviour towards money. A common barrier, people care too much about losses or when the investments do poorly and forget about the pleasure they feel when the investments go up in value.  

The responsibility for your success is shared throughout the year, no question is silly if it causes financial stress. A financial advisor can help you take action, implement, and monitor a plan to lower or remove that stress from your life. A study by Russell Investments, a large money management firm, came to a similar conclusion. Russell estimates a good financial advisor can increase annual investor returns by 3.75%.

If you are excited about taking control of your financial future, arrange a 30-minute conversation online today. [email protected]

Holborn Assets is a leading financial services company offering advice and expertise on a wide range of areas. https://holbornassets.com

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