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When is the right time to hire a financial advisor?

Many people think that you should not hire a financial advisor until you have amassed a lot of wealth.

However, this is not necessarily true. In reality, it is never too early To start securing your financial future.

That said, there are certainly some milestones that strongly indicate that it’s time to partner with a financial advisor and start planning your path to long-term financial freedom. Keep reading to learn five key indicators that could mean it’s time to look for a financial advisor.

1. You have disposable income.

Maybe you recently paid off your student loans or car loans and suddenly have more disposable income than usual. Instead of wasting all that cash on new gadgets and clothes, you may be better off partnering with a financial advisor to start investing and build the foundation of your portfolio. The sooner you can get your money to work for you, the faster you can get Financial Freedom,

2. You have landed a new job or have come in some money.

If you started a new job that came with a hefty salary increase, got married recently, or came in money because of a death in the family, you’re in more or less the same position as in the previous example. Instead of wasting your money on frivolous items, you should strongly consider working with a financial advisor who can help you invest those funds in a way that will help you meet your long-term goals.

3. You have added a new family member and want to plan ahead.

Having a baby is a big milestone. After having your first child, your entire outlook on life may change, and you can start making smarter financial decisions to ensure that your child lives a healthy, happy and financially secure life. If this applies to you, it may be time to talk to a financial advisor.

4. You are looking for equity option in a start-up.

When most people get a job, they negotiate their salary and benefits. Some people, especially those who work at tech start-ups, may be presented with equity in the company in exchange for a reduced salary. Should you ever find yourself in this situation, you will most likely want to speak to a financial advisor who can walk you through your options. The last thing you want is to make the wrong decision to agree to either take equity when you shouldn’t or take too little equity when you should have more. Either way, a financial advisor can help you navigate these unknown waters.

5. You just want to organize your financial house.

No rule says that you have to experience a major life event in order to move forward with a financial advisor. Sometimes, you may be unhappy with your financial situation. Instead of letting it get out of control, you may want to take action to get things back on track as soon as possible. Partnering with a financial advisor can help.

Even if you don’t have a ton of disposable income, you can still get started on the right track by taking advantage of digital advisory tools such as Wealthspire™ Pathway, which can automatically rebalance your portfolio to help you meet your financial goals.

Now that you’re ready to hire a financial advisor, it’s time to figure out what that advisor should look like. Read this blog for more information on key features to consider when choosing a financial advisor.

Wealthspire Advisors is a registered investment advisory and subsidiary of NFP Corp.
This document is not intended to be legal, tax or accounting advice or solicitation. No communication from Wealthspire Advisors is a substitute for obtaining legal, tax or accounting advice from a qualified attorney, tax or accounting advisor. You should not act on any such information without the advice of a qualified legal counsel, tax or accounting consultant in relation to your specific situation. ©2022 Wealthspire Advisors

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