A very common misconception these days is that financial advisors are no longer a necessity. This could not be further from the truth. With a volatile stock market, the constant struggle of small business, and governments all over the world struggling with how to handle their individual economies, now, more than ever before, a financial advisor can be your best defense against your own personal economic turmoil. This is true for the independently wealthy, just as it is for the not so wealthy.It does not matter if a person is making enough money to live comfortably off of their investments alone, or if they are surviving paycheck to paycheck, a financial planner will be an asset. A financial planner will advise of potential threats to not only any savings, but will be more than qualified to advise on matters regarding retirement, benefits, and investments. For those already in a position to live without worrying about where the next surge of cash will be coming from, a financial advisor will provide the peace of mind of knowing a trained professional is managing their financial future. For those that have to wait for payday to settle their debts, a financial advisor will be there to look over the financial situation, and advise on ways to improve their financial health.
The quick and easy answer is that most everyone could benefit from have a financial advisor to assist them with their money. Many in the field will work for little to no compensation from their customer, as they are compensated in other ways. That is not the case for those financial advisors that specialize in accounts for wealthier individuals. This is a good thing, however, as like in most every other aspect in life, as well as in business, you get what you pay for.