top of page
  • Writer's picturePTA

Why Do You Need a Financial Advisor?

Implementing financial planning is very important for the success of any business. Supports action plans and sets processes to ensure that set goals are financially achievable. Sound financial planning and analysis will help you understand how well your business is doing and measure your success against those forecasts. This process is ongoing and should be a smart guide for you to run a business.

Financial Advisor

Working with a financial advisor can help you develop more confidence and commitment to achieving your goals. What positive results can a financial advisor expect? Here are some points:

More Wealth Over Time

A research report by CIIF has revealed that the average investor who works with a financial advisor has nearly three times the equity and four times the wealth that can be invested for those who don't. This applies to all age groups and all income levels. When asked, most investors fully agreed that their advisors have a positive impact on the value of their investments and their returns.

Develop Winning Attitude

Saving regularly for retirement is twice as much as a family who does not take expert advice. By setting savings targets and structured wealth accumulation as part of a comprehensive financial plan, advisors tend to fall prey to risks such as trying to time the market or taking risks in emotional investment decisions.

More Confident and Comfortable

Once a consultant-client executes their financial plan, the evidence shows positive results.

The Financial Planning Standards Board found in its study of the value of financial planning that those who have a comprehensive, integrated financial plan that includes strategies for family budgeting, taxation, retirement, estate planning, investing, debt, and risk management have more. They are satisfied with their finances and confident that they will achieve their life goals.

Even when the going gets tough - like the 2008 global credit crunch or the 2020 coronavirus outbreak - those with advisors feel more secure than those who don't. A 2008 Ipsos crisis survey found that 38% of investors were told that their financial plans would help them get out of the confusion. Only 27% of the unsupported group felt this way.

Financial Advisor

Find the Right Formula

Advisors focus on creating mixes of assets that suit their clients' goals and risk tolerance. In short, conservative investors have a more growth-oriented and tax-efficient portfolio, which leads to more long-term wealth. In contrast, unwanted investors prefer low-interest and fixed-term investments and only half of them use registered tax savings plans such as TFSAs, RRSPs, or RRIF.

Determine Who Is Eligible

The financial services industry in the UK is highly regulated, but surprisingly little prevents anyone from calling themselves a financial advisor. Fortunately, professional standards exist that give you the peace of mind that the person you are dealing with has the education, experience, expertise, and ethics to help you meet your financial goals.

One of the most respected financial planners is the Certified Financial Planner, an indicator used by leading financial planners around the world. The CFP certificate ensures that the advisor you are working with has the necessary training and expertise to guide you on your financial path. To earn the designation, certified consultants must complete a rigorous training program, pass a national test and demonstrate three years of qualified work experience, and commit to continuing education throughout their careers.

How Do Consultants Create Added Value?

When working with an advisor who increases the likelihood of achieving your financial goals, it does not happen by accident. Success begins with working with your advisor to create an integrated plan that integrates all aspects of your financial life, from investing and debt management to retirement planning and risk insurance.

A financial plan is not necessarily the ideal solution for everyone. An effective plan will be tailored to your unique and specific needs and will respond to those changing needs. A consultant can guide you on the path to success and get you thereby giving you knowledge,

People often make one mistake, which is to equate financial planning with investing. Your financial advisor takes a comprehensive view of your situation. This ensures that core areas such as tax planning, risk management, and wealth considerations are not overlooked. When markets and economies become volatile, they can offer perspectives and help you make the necessary changes.

Financial Advisory Services

How to Get the Most Out of Working with Your Financial Advisor?

Working with a financial advisor is a smart move. But as in any relationship, success requires commitment from both sides. What can you do to add value to your partnership with your advisor? Here are four suggestions.

1. Be Open and Honest

Effective communication is the core of any strong relationship. If you hide important information or delete important information, your guide will find it difficult to help you. Be clear about your financial situation, goals, and attitude to risk. And from the start, have a detailed financial discussion with your spouse or partner. You may find that their tolerance for risk is very different from yours, which can greatly affect your diet and performance.

2. Inform Your Guide

Your financial plan should evolve according to your circumstances. Tell your counselor about important life changes such as marriage, divorce, childbirth, or upcoming retirement. Any significant event should require a review.

3. Have Reasonable Expectations

You should expect your advisor to make specific recommendations, explain those recommendations, and outline the risks involved. What they can't say for sure is what the financial markets or interest rates are doing, or how the recommendation will work. But it pays to be realistic. Gone are the days of the 6% risk-free return. My possession should reflect this reality.

4. Take Initiatives

Being active in your finances will help you get the most out of your consulting relationship. Check your bank statements. Read your advisor's information about any investment you're considering - even do a little research on your own.

Feel free to ask questions about how the proposal fits with your plan. Keep important documents handy during your meetings (such as tax returns, invoices, etc.). Of course, you should take a lot of notes and document what you and your mentor have agreed upon.

Building a relationship with a financial advisor that you can trust is essential to achieving your goals. Financial advisors and PTA professionals provide a powerful combination of experience, knowledge, and commitment to customer service and integrate a wide range of strategies to ensure that all aspects of your financial plan are covered.

Have your financial needs become more complex? Are you looking for smart and well-designed solutions? Contact PTA financial advisor today and invest in a partnership that pays for it.


Recent Posts

See All


bottom of page