Wednesday, June 12, 2024

Do I need a personal financial advisor?

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Adetunji Matthew
Adetunji Matthew
I’m Adetunji Matthew, an Economist, Social Media Manager, software Developer/Marketer Sales Consultant, and Ecompreneur. I’m popularly known as “Matt” As an artist and designer, I aim to create something brilliant daily. Eager to learn more, I use my free time to get better at w hat interests me, whether it's researching, teaching, or even something entirely new.
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A personal financial advisor is just as important as your personal fitness trainer, dietitian, physiotherapist, or even your lawyer. While these other professionals offer you various services, when it comes to optimizing your financial assets, hiring a personal financial advisor is your best bet!

Am I saving as I should? Am I spending on the right things? Where can I invest my money? How do I become financially ready for retirement? Answering questions like this is sometimes a bit complicated.

This is where a personal financial advisor comes in. To help you resolve all your doubts about your personal finances. 

Your financial advisor will analyze your financial situation to give you recommendations that will help you establish objectives adapted to your needs and that you can achieve.

If you are still not sure if you need the service of a financial advisor, I give you several reasons in this article.

Why you need a personal financial advisor 

For your Personal Finance

1. To help you plan your financial future

You must have seen people who were wealthy some years ago now in the average or low financial class today because of a lack of adequate financial planning. This may make you want to start worrying about your finances and plan your financial future.

Indeed, it’s good to plan for your financial future now so that you don’t get into a financial crisis in the future. But, most likely in planning for the future, you’ll find yourself in a dilemma of choices, such as: saving for retirement, for an emergency fund, buying a house, for vacations, getting married, and even going out to dinner with your friends. 

Only an objective look can help you plan for your future by creating a savings and investment plan tailored to your present circumstances. Of course, in this case, you’ll need the help of a personal financial advisor to do the right thing now so that you’ll have a better financial future.

Also Read: Finance explained for non-financial people

2. To help you to manage your finances

Many people do not like having to manage their finances, they find it boring or complicated. It may even be the case that you like it but do not have time to do it. And I understand you, it is something very normal. Once again, the solution is to seek the help of a personal financial advisor.

Your advisor helps you create a savings and investment plan that will allow you to have control of your finances. In this way, you will only have to follow the steps marked by the advisor without worrying about anything else.

3. To educate you on the operation and characteristics of financial products

Each individual is different. Our economic situation, academic background, and financial goals are never the same. 

That is why financial institutions offer various financial products to suit the needs of individuals. For example, there are many types of investment funds and even various types of pension plans.

Trying to understand all the characteristics to choose the one that gives you the best results can become quite a complicated process. And new financial products are being launched now and then. So, even if you have some financial knowledge, knowing everything will be cumbersome.

Hence, delegating to a professional is undoubtedly the best alternative.

Also Read: The Do’s and Don’ts of Investing for everyone

4. To help you make the right investment decision

Because we live in a world(not only in Nigeria) where there is inflation, all the money you keep in cash or a non-interest-bearing account loses value every year. 

Investing is the only way to grow your money, and unless you have an exceptionally high income, investing is the only way you can raise enough capital to achieve your financial goals. 

Therefore, if you have no idea about how to invest, leave this task to a professional. Your financial advisor will take a critical look into all investment options and help you choose the safest and the most profitable investments.

Also, your advisor will give you an objective opinion about your investments because all of us are susceptible to making irrational decisions, especially when it comes to investing. 

5. To help you gain peace of mind and time

Having the recommendations of a professional will help you to be much safer and therefore, gain peace of mind in your life. 

The fewer doubts you have, the more confident you will be and the more certain you will be that your money is in the right place. 

Also, you’ll have more time to put into other profitable ventures.

For your Business:

6. You don’t have to worry about everything 

Whether you plan to start the sale of some goods, the provision of intellectual services, or any other activity, you will very quickly find yourself in a situation where you have to perform many tasks that you did not even plan to do before starting the business, from product packaging, material procurement, marketing, up to communication with customers and suppliers.

In such a situation, when you’re alone, or possibly have only one or two other employees, focusing on other jobs, which may seem more important at that moment, can lead to finances falling. So for this reason, the help of a financial advisor is essential.

An experienced person in the field of finance can ask the right questions and help you jointly find answers that can significantly improve your business’s financial stability and profitability.

7. To help with adequate financial management

Bad money management, inadequately planned cash flows, overpaid suppliers, and contracts with customers who do not pay their obligations on time lead many businesses to ruin.

But with the help of a personal financial advisor, you could timely identify all the potential risks that you could encounter in business. So that when you encounter them, you keep them under control, and therefore avoid bad results in business and general problems that would damage the activities of your business.

8. To inform you about tax regulations and potential penalties

In a large number of cases, when entering the world of business, entrepreneurs do not know what kind of tax regulations they are facing, which taxes need to be paid, and how much such mistakes can actually cost them. And for this reason, they sometimes neglect taxes and thereby harm themselves.

With adequate tax planning, a financial advisor can help you not to worry about possible fines that may follow due to unpaid tax obligations.

Also, your advisor can help you achieve tax savings because it often happens that due to insufficient knowledge of tax regulations, companies pay significantly higher amounts of tax than they needed without even being aware of it.

Also Read: Finance explained for non-financial people

9. To help provide additional funds

The initial period of business has been successfully completed and the company has successfully overcome the first years of business? Now it is necessary to take new steps and raise the business to an even higher level through investments, but this requires money that your business most likely may not have, and needs to be obtained from financial institutions.

When it comes down to it, cooperation with an experienced financial advisor brings a lot of benefits. First, consistent management of your company’s operations and results ensures that the financial indications are satisfactory for the financial institutions and that they are disposed to establish cooperation with your company.

Second, your advisor will present the investment idea in a high-quality way, by making precise calculations and predicting the results that can be expected from the investment, and also by constant communication with the employees of those institutions and answering their many questions.

Thirdly, the financial advisor can use his experience and knowledge of the functioning of financial institutions and their requirements by providing you with funds on more favorable terms and thereby further reducing costs.


All the reasons listed in this article show that a personal financial advisor can help you put your financial life and business in order and solve many of the financial problems that may arise throughout your life. Join a financial advisor and stop worrying about your finances.


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