Financial Advisor FAQs Is it worth the money to hire a financial advisor? No easy answer is available to the question of whether or not financial advisors are worth it. Essential factors including your personal financial situation, your goals and objectives, and your comfort level with investing must be evaluated. There are some general points such as goals, asset value, time, and knowledge to consider that can help you decide if working with a financial advisor is right for you. Who needs a financial advisor? Individuals who are seeking financial advice because they do not have enough knowledge of investment and how to manage their assets can benefit from working with a financial advisor. Additionally, individuals who lack the time to monitor, analyze and plan their finances may also regard it valuable to enlist the services of a financial advisor. Ultimately, working with a financial advisor can help individuals make sound financial decisions and achieve their financial goals. What exactly does a financial advisor do? Financial advisors support individuals and businesses to make decisions about their finances. They take on the role of managing your finances and making sound investment choices. They may offer, depending on their specialization, guidance, and assistance in all aspects of financial planning, from budgeting and saving to retirement planning and investing. They help you build a solid financial foundation that will serve you well throughout your life. What is the average charge of a financial advisor? Different financial advisors charge different fees for their services. Some may charge an average hourly rate of $100, while others may charge a percentage of assets under management typically marked at 1%. Others may also earn commissions at an average of 4% of the sale amount. What is the highest level of financial advisor? A Certified Financial Planner (CFP) is the highest level of financial advisor. A CFP is licensed by the Certified Financial Planner Board of Standards Inc. after passing a series of exams and working in the financial industry for a certain number of years. They work with clients to set financial goals and create a plan to meet those goals. About the Author True Tamplin, BSc, CEPF® Facebook Linkedin Instagram Twitter Youtube True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists. True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.