The W’s & A's of Financial Advice and Advisers

The W’s & A's of Financial Advice and Advisers

What: What is a financial advice and what are advisers?

A: Financial advice, otherwise known as financial planning, is an ongoing process to help you make sensible decisions about your money to help you reach your financial goals. The evaluation takes in account current and future financial states and generally includes objectives such as, paying off debts, saving for retirement, legacy planning, etc.

A: An Adviser is licensed professional whose sole purpose is to help you achieve your financial goals through education, guidance, planning, etc.

Who: Who needs financial advice and who should I be getting it from?

A: If you answer YES to any of the following questions, you need an adviser. (A) Do you have a significant other or children that you care about? (B) Do you often find yourself with more month than money at the end of the month? (C) Do you have any aspirations to stop working one day? (D) Do you receive a big tax refund every year? (E) Are you tired of going broke trying to impress other broke people?

A: You should be getting your financial advise from a licensed financial professional. At a minimum, those licenses should include a Series 65 and a Life Insurance License. You should NOT be getting your financial advise from your family
and friends, unless you would trade bank accounts with your family and friends.

Why: Why is having a Financial Adviser important?

A: Failing to plan is a plan to fail. Most people are failing in regard to their finances because they don’t have a plan and don’t know where to get one. The majority of Americans receive no formal, financial education and often find themselves paralyzed by the amount of information readily available from the internet. A financial adviser is important because they can not only provide education but provide a plan, as well.

When: When is the best time to get a financial adviser?

A: The best time to have a financial adviser is before you are born. The second-best time to get a financial adviser is now. Regardless of your circumstances, you can use financial advice. Whether your goal is to get out of debt or to get wealthy, it is going to take some time. If you’ve gotten this far on your own, and you are still not where you want to be… then it may be time to consult someone else.

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Tony Trillions