How do I know if I need a financial planner?

Most of us have questions about the parts of life that involve money.

Maybe you’re thinking about your next career move, buying your dream home, starting (or raising) a family, or opening a business.

And what about all of the decisions that come with retirement?

You want to make smart decisions with your money, and maybe you’re wondering if you need a financial planner.

It can often feel like the safest answer is to handle your finances on your own.

Many people choose to DIY their finances because they’re nervous about sharing their financial information, embarrassed about their current situation, or worry they won’t have direct control over all of the decisions made with their money.

But as with many things in life, it’s easier to get the results you want when you work with a qualified and trustworthy professional. Let’s break down the many ways a financial planner can help.

What is a financial planner?

Financial planners are professionals trained to help you make smart financial decisions by taking the time to get to know you and understand your goals.

Depending on their qualifications, they can offer advice in a variety of areas from investments and taxes to education and retirement planning.

The gold standard of financial planners

The Certified Financial Planner™ certification is issued by the Certified Financial Planner Board. It is by far the highest designation a financial planner can achieve.

CFP® Professionals must meet comprehensive training and experience requirements and adhere to the CFP Board's strict ethical standards. And since all CFPs are fiduciaries, they must put their clients' best interests first.

If you’re looking for extensive personal financial advice, investment expertise, and guidance on everything your money touches, look no further than a CFP® Professional.

Reasons why you may need a financial planner

If you’re just getting started

You want a healthy relationship with your money

Your beliefs, values, and attitudes about money were developed throughout your life, and they all affect the story you tell yourself about money.

Your mindset matters when it comes to improving your financial health. A financial planner can help you better understand the decisions you make, create a plan that aligns with your beliefs and values, and help you gain clarity on how money can help you live well.

What's your Financial Wellness Score?

You want help seeing the bigger picture 

Sometimes it’s difficult to know where to start. There are many financial topics to cover (taxes, banking, insurance, investments, and the list goes on). There are also several milestones to navigate in life (marriage, kids, family, retirement); not to mention work (new job, promotions, raises, benefits).

A financial planner can help you get organized, see the bigger picture, and set meaningful goals, which allows you to chart your future with confidence.

You want to build a strong foundation

It’s never too early to start investing in your future.

A strong foundation – solid emergency fund, plan for debt, proper insurance, short-term savings, a will, and others – is critical to your peace of mind.

It can free you from worry and protect you from the unexpected so that you can plan for the upcoming milestones, big and small.

If you’re navigating new life milestones

You want your plan to adapt as life changes

You’re getting married, starting or raising a family, saving for an education and retirement, or dealing with the affairs of a loved one who’s sick or has passed away.

You will have big decisions to make and you want to make the right ones. And there will always be trade-offs – saving for college, investing for retirement, or buying the dream home. Or can you do it all?

A planner can help you think through the trade-offs and make the right choices.

You want guidance as you advance in your career

A new job, a promotion, a raise, or even a new career. All of these professional events involve more than just your job.

How do these changes impact your taxes, your benefit elections, retirement plan options, your take home pay?

Seeing the bigger picture, understanding how your career will affect your finances and your life, and knowing how to make the best decisions are important today and can lead to better outcomes tomorrow.

You want expert advice on the decisions you make with money

From cash flow to minimizing taxes to more complex strategies with investments and protecting your family and wealth with insurance and proper estate planning, coordinating your entire plan can be challenging.

There are a lot of moving pieces and they all impact your bigger picture. A planner can help coordinate all facets and develop a more integrated plan.

You want help planning for the unexpected

Recessions, market declines, legislative changes (e.g., tax increases), inflation, the list goes on and on.

You will have a lot of decisions to make and a financial planner can help you insulate your money from the impact these events can have. And when life happens, an expert that knows you and that you trust is only a text, phone call, or laptop screen away.

If you want a plan that supports you today and tomorrow

We purposefully didn’t mention investments until now because a well-crafted and personalized financial plan is your foundation.

Your investments support that plan.

Whether it’s your 401(k), company stock, IRA or Roth IRA, or something else, a financial planner can help you create a tailored investment strategy that’s aligned with your life and evolves through the good and bad times.

Financial planning, as it should be, isn’t a series of one-off decisions.

Financial planning, when done right, is a dynamically evolving strategy that helps you make smart decisions in the moment with an eye towards the future.

With proactive planning, frequent check-ups and course corrections along the way as the expected and unexpected occur, a planner can act as an expert guide to help you navigate life, and your decisions with money, with confidence.