When Should You Hire A Financial Advisor?

June 1, 2021

Almost everyone could gain from having a professional financial planner by their side, but the cost is often a deterring factor. There comes a time, though, when you need to seek financial advice to help you make a sound investment. However, the big question is: how do you know when to get a professional financial planner? Your finances may suddenly have become more complicated because of inheritance or a new job, or you want personalized advice to help increase your savings and pay down your debt. Whatever the reason you may want a financial advisor, it is important you know when it’s time you seek one.

Financial Advisors Can Be Expensive

In a perfect world, we would all have financial advisors we can check in with on a monthly basis or call when we want to make a decision on a certain investment. Realistically, however, hiring financial advisors isn’t within the financial reach of many people. The reason being that advisors charge a fee. The decision to consult with a financial advisor, therefore, requires a well-thought- out cost-benefit analysis.

When to Hire a Financial Planner

You may need help to plan your financial future

For some of us who are starting out, we may need financial planning. There are many goals you want to achieve, but the financial resources are limited. You want to fund your retirement account, student loans, buy a house, save an emergency fund, get married, take a vacation, and the list goes on.

In your 20s and 30s, you may find money to be overwhelming to manage. And if you’re going to have a thousand dollars to pay for your financial planning, you should be conscious of how you invest your funds.

The takeaway, however, is that if you’ve got a comfortable emergency fund and are able to afford the advisor’s fee without creating more debt, you may as well consider having one. You may find that the planner’s fee pays for itself in a couple of years if the advisor helps you make financial decisions.

You don’t want to manage your money

Some individuals hate managing their funds – and there is nothing wrong with that. The most important thing is to recognize it and have someone help you take care of it. Hiring a financial planner, hence, is a solution. You will need to have sufficient investable assets to allow the advisor to take you on.

Some investment advisors may not work with you until you have a specific investable amount or an investment of say $100,000 or so. Some may even consider clients with more investments like

$500,000 or $1 million. So you should shop around for the most cost-effective advisor.

Do you want an unbiased third-party opinion on your finances?

There are DIY investors who would never want to hire an advisor. They feel that they are fairly savvy and they don’t want to pay a percentage of their finances every year because it could reduce their returns. However, despite how much you learn about investments, you may be susceptible to making improper decisions.

A financial advisor may be able to spot an opportunity you overlooked or may be able to help you come back from a decision you made; this could potentially increase your returns.

Hire a Financial Planner today!

Do you want to grow your investment or manage your finances? At E.A. Buck Financial Services, we can help you grow as well as preserve what you’ve worked to build. Visit us at https://eabuck.com/ to find out more about our financial services.

We are an independent firm helping individuals create retirement strategies using a variety of insurance and investment products to custom suit their needs and objectives. This material is intended to provide general information to help you understand basic financial planning strategies and should not be construed as financial advice. All investments are subject to risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. 902028- 5/21.


E.A. Buck Financial Services,
55 Merchant Street, Ste. 2100 
Honolulu HI 96813,


The views and opinions expressed by the writes are their own, and do not necessarily express the views and opinions of E.A. Buck Financial Services, MAS, or AEWM. The information and opinions contained in any of the material requested from this website are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. They are given for informational purposes only and are not a solicitation to buy or sell any of the products mentioned. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. E.A. Buck Financial Serivices and its advisors cannot offer tax or legal advice. Please speak to an appropriate professional for any tax or legal questions you may have.


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