Why Should I Use a Fee-Based Financial Planner?


Why use a fee-based financial planner?

There are a myriad of situations in life where finding a good financial planner will prove worthwhile. Managing finances for the long-term can be difficult. Choosing the right insurance policies, building a savings, planning for retirement, securing a house, and maintaining peace of mind for you and your family are just some of the ways a financial planner can help you. With so many options out there, understanding the ways in which financial planners operate can help you find your perfect fit–financially speaking, of course.


Unfortunately, accidents and tragedies are a part of life. Though it’s nice to be optimistic, when it comes to protecting you and your family in case of financially devastating tragedy, it’s much better to be realistic. A good financial planner can help you prepare for such instances by assessing your particular situation and finding the right insurance for you. A fee-based financial planner will be sure to only promote the products that will best meet your individual needs and the needs of your family. A commissions-based financial planner will push products that he or she needs to sell to make a living. Though it may work out in your favor, you are taking a bigger risk when working with a commissions-based planner. The plan he or she chooses for you may not be in your best interest.


Financial planners also help clients to coordinate their spending in order to build a savings. To have financial security in the future, you need to establish some assets. A good financial planner will help you to plan a savings that will build your wealth over time and prepare you for retirement or those days where a little extra cash will come in handy. A fee-based financial planner is going to make sure to approach your situation holistically. Rather than leading you on a narrow path, a fee-based financial planner looks at your current situation 360 degrees around. There are many facets in life that determine your financial status. Figuring out how the pieces of your life fit together financially is what a sound financial planner will help you with.


Financial planners also help clients plan for retirement. Though social security provides elders with a basic source of income, future retirees must prepare for more than the bare minimum. What’s the point of retirement if you’re barely scraping by? A fee-based financial planner can help you prepare for a comfortable retirement.


In the spectrum of life, marriage can take a toll on a person financially. When two people get hitched, their income, assets, and their debts become one. One of the main reasons for divorce is financial strife. Avoid this stressful situation by getting a financial planner whom can help you and your spouse understand your joint financial situation and plan for future investments. Oftentimes, spouses can have different goals financially. A financial planner can formulate a detailed plan that meets the needs of both partners.


Financial planners can also come in handy when you find yourself in possession of a large sum of money. Whether you’ve hit the jackpot or inherited a sizeable sum of money from a relative’s will, having a financial planner will ensure that your money is invested efficiently so it stretches for the long haul. It happens far too often where a lottery winner ends up bankrupt after just a few short years of living a life of luxury. How does this happen? With a slew of bad investments and poor financial planning. A fee-based financial planner will clear up the fantasy so that your money doesn’t disappear in a parlor trick magic poof.


If you want to make the most of your money and prepare for the future, finding a good financial planner is a worthwhile investment. Managing your finances on your own might seem more lucrative in the short-term, but having a solid financial plan for the future is the only way to ensure long-term financial security.


A fee-based financial planner will guide you in the right direction. Fee-based financial planners provide clear advice that delves into every aspect of your life so that you are always prepared for every situation.


Contact us today for a consultation!