What will a financial planner do for me

The initial consultation to discuss your needs and their services is usually free. There are several online planning services that combine computer-driven portfolio management with access to living, breathing financial planners. In many cases, you'll get a dedicated financial planner and a comprehensive financial plan, but you'll meet with that advisor via phone or video conference rather than in person.

Online planning services like this typically charge more than a robo-advisor but less than a traditional financial planner. Examples of companies in this space include Facet Wealth and Personal Capital. Financial advisor or financial consultant is a broad term that encompasses many different professionals who help people with their money.

A financial planner is a type of financial advisor who typically focuses on offering holistic financial guidance in addition to services like investment management. For example, financial planners can help you answer questions like, "How do I save for retirement and my child's college fund at the same time? Online financial planners like robo-advisors or online planning services often offer virtual tours, demos and even the chance to test-drive the investment platform before you sign up.

With an online planning service, you may be able to meet with your dedicated financial planner before deciding to sign on. Take this opportunity to find out everything you can, including how much you can expect to pay, how the financial plan will be presented and how often to expect ongoing communication. Here are 10 questions to ask a financial advisor to gather information and see whether you click.

When you work with a CFP or an online planning service, you'll begin with a review of where you stand. Your goals. What are your short- and long-term financial priorities?

Your current financial picture. How much money comes in and goes out? What do you own, and what do you owe? Your risk tolerance. This series of questions about how queasy stock market gyrations make you informs how much of your portfolio should be in stocks versus other investments like bonds. You can expect any financial planner to be in fairly regular contact with you, though the form that contact takes will vary.

Robo-advisors typically send regular emails and account prompts while online planning services and traditional planners will meet with you throughout the year. Your advisor aligns your investment recommendations with your financial goals, risk tolerance and time horizon, factoring in market movement up and down over time.

As market conditions change, your advisor can help you review your goals and portfolio and adjust if and as needed, whether to rebalance your portfolio, revisit your risk tolerance, or take advantage of potential investment or tax opportunities.

By staying focused on your progress toward financial goals, you can avoid emotional decision-making during turbulent times. And your advisor will keep you informed on events that may impact your long-term investment strategy. Even successful professionals like you need personalized financial advice from an advisor who knows you as well as they know the markets.

A financial advisor, along with your tax advisor, can help you incorporate tax-advantaged products and investments into an overall, long-term investment strategy. Your initial conversation with an advisor is complimentary. Every client receives personalized financial advice based on their goals which is included in costs for products and solutions. Depending on your needs, as well as the complexity of your situation, you may choose to pay for additional advice options.

You'll know your costs up front before you agree to work together. To find an advisor who is a good match for your needs and personality, start here. Or, request an appointment online to speak with an advisor. Please share your experience and tell your friends and family about me.

How can a financial advisor help you? Key Points. What kind of advice will I get from a financial advisor? View advisor profiles and find an advisor near you. Find an Advisor. A lot of people think about an experienced expert who can give them financial advice, especially when it comes to investing.

Not even close! Financial advisors can help people with a bunch of other money goals too. A financial advisor helps you create strategies for eliminating financial risk and building wealth over the long term. They can give you a game plan that puts you on track to achieve your financial goals.

They get different degrees and certifications. They come from diverse backgrounds and offer a wide range of services. Because of that, they can do much more than explain confusing jargon and help you pick mutual funds. Simply put, financial advisors help you with all types of financial planning. That means they can help you with everything from saving for retirement to handling an inheritance.

Here are some of the different types of financial advisors you might come across during your financial journey:. Each type of financial advisor is uniquely qualified to help you reach different financial goals. What does your dream retirement look like? Do you want to travel the world? Visit your grandkids? Open your own business?

Volunteer at the local homeless shelter? No matter what your dream is, you need to have stable income streams to carry you through two or three decades—or more. A financial advisor like an investment professional can help you not only build wealth, but also protect it for the long term. They can estimate your projected financial needs and strategize ways to stretch your retirement savings.

They can advise you on when to take your required minimum distributions RMDs from your investment accounts so you can avoid the nasty penalties. And they can also help you figure out when to tap into Social Security. Some financial advisors are also investment professionals.

Like SmartVestor Pros , they can help you figure out what mutual funds are right for you and show you how to manage and make the most of your investments. A seasoned professional can also help you stay on the roller coaster of investing when it takes a dive.

They know that what goes down—mutual funds—will likely go back up. Because they can remain emotionally neutral, they can be a voice of reason that reminds you to look at your investments with a long lens.