Financial Advisors – What Can a Financial Advisor Help You Do?

Financial Advisors - What Can a Financial Advisor Help You Do?

A Financial Advisors can be described as someone who offers financial advice to their clients. They come in handy in determining an investment portfolio for a client, by taking into account a range of information, including economics trends, regulatory changes, as well as the client’s comfort with very risky decisions.

A financial advisor is required to make clients feel comfortable, by establishing trust with clients and responding well to their questions and concerns.

Financial Advisors - What Can a Financial Advisor Help You Do?

What Does a Financial Advisor Do? | › Articles

A financial advisor helps you create strategies for eliminating financial risk and building wealth over the long term. They can give you a game …

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After a conversation with an Ameriprise financial advisoryou‘ll receive personalized advicebased on factors such as your unique goals, investment time

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Your advisor will work with you to create a plan tailored to your needs: retirement planninginvestment help, insurance coverage, etc.

Types of Financial Advisors

A financial advisor is not custom-made, they get different degrees and certifications. They come from different backgrounds and offer a wide range of services.

Financial advisors help you with all types of financial planning, which means, they have the ability to help you with everything from budgeting to saving for retirement.

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These are some of the different types of financial advisors you may come across in your financial quest.

  • Tax professionals
  • Investment professionals
  • Financial planners
  • Wealth managers
  • Financial coaches (also known as ‘financial counselors’)

Now each type of this financial advisor is uniquely equipped to help you reach different financial goals that you desire.

What Can a Financial Advisor Help You Do

Here are some of the things that a financial advisor can help you do:

Budgeting to Reach Financial Goals

A financial advisor, mostly a financial coach, helps you understand what actions you are required to take, in reaching long term goals.

Debt Management

A financial advisor can help you see the benefits of being debt-free. He/she can help you get out of debt with a personal plan and will encourage you to tackle your debt and get it out of your life, as quickly as possible.

Health and Long-Term Care Planning

A financial advisor who is a financial coach can help explain your options for long-term care insurance. With this, you can choose a plan that is affordable both now as well as in the future, when it will be most needed

Estate Planning

Working with a financial advisor, particularly a wealth. Manager if you are managing an estate worth millions of. Dollars or an attorney with estate planning experience is very essential. This can give you the guidance you need in creating a plan to ensure that your desires are carried out.


A financial advisor, just like an investment professional. Can help you in building wealth, and in protecting it in the long term. Financial advisors, can estimate your projected financial needs as well. As strategize ways of stretching your retirement savings. If you want advice on when to take your required. Minimum distributions (RMDs) from your investment accounts to avoid nasty penalties, a financial advisor can come in handy. And they can also help you know when to tap into Social Security.

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Get a financial advisor if you expect to receive an Inheritance. They can help in advising you on how to adjust your financial goals and strategies, and they can also help you tackle hard questions like projected taxes, as well as walk you through the practical steps to take when the need arises.


Financial advisors who are also investment professionals can help you figure out what mutual funds are ideal for you, as well as show you how to manage and make the most of your investments. They also help you understand the risks and what you’ll be needing to achieve your goals.

Tax Planning

A financial advisor, particularly a tax professional can help explain to you clearly how taxes can impact your finances. Be it advising on charitable donations, constructing a tax-efficient estate plan, or making the most of tax breaks available to you, a financial advisor goal is to minimize your tax burden while offering you the best possible returns

Cost of a Financial Advisor

Since there a variety of business models, each of which charges clients in different ways, there is always confusion when it comes to the fees being paid for financial planning services.

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When it comes to the cost of getting the services of a financial advisor, it varies. Thus you may pay on a per-transaction basis, or based on which investment you buy, or pay a flat or percentage fee to your advisor. Howbeit, before you engage the services of a financial advisor, ensure that you understand the fees associated with it. Because at the end of the day, the cost of a financial advisor, depends on the type of financial advisor you have.

Do you Really Need a Financial Advisor?

If you have a simple financial situation, and sound knowledge of investments, you may likely be fine on your own. Most people are smart enough to manage their own investments. However, if you feel you need sound financial advice and feel your time can be better spent on business or personal endeavors you can get an advisor.

On the other hand, a financial advisor will help you avoid mistakes, find opportunities which you miss, help you stick to your plan in times of stress, as well as manage risk in a tax-smart way to safeguard your assets