13 People Who Absolutely Need a Financial Advisor (Are You One of Them?)

If you’re one of these 13 types of people, meeting with a financial advisor is a smart choice.
Updated May 8, 2024
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People Who Need Financial Advisor

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Financial advisors are professionals who help individuals plan their financial futures. 

Some financial advisors specialize in niche areas like retirement planning, while others offer broad advisory services. But no matter what, financial advisors can help you make smart moves with your money.

Wondering if you should meet with one? Keep reading — we list the 13 types of people who are most likely to benefit from the advice of a financial advisor.

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People with complex finances

Kittiphan/Adobe calculating credit card expenses

Budgeting is hard enough when you have a single source of income and relatively few bills, but it gets even harder as your finances become more complex. If you’re tired of spending your time trying to wrangle complicated finances on your own, a financial advisor can help simplify tasks like budgeting, saving, and investing.

People who are getting close to retirement

Charlize D/peopleimages.com/Adobe thinking of work investment vision

The closer you get to leaving the workforce, the more important it is to ensure you’ve saved enough money to retire. Chatting with a financial advisor who specializes in retirement planning can help you verify that you’ve saved enough funds. And if you haven’t, your advisor can give you advice on how to ramp up your savings.

People who don’t want to learn about finance

Photographee.eu managing family budget together

Learning enough about finances to manage your own budget and chart your own financial future can be time-consuming and complicated. Instead of spending hours trying to teach yourself financial literacy, save time and energy by meeting with someone who already earned a degree in the subject.

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People who could use some professional validation

fizkes/Adobe team appreciation support applause

No matter how good you are at money management, it’s always nice to hear from a professional that you’re on the right track. If you’re pretty confident in your own financial strategy but want a seal of approval from someone with a degree, a one-off meeting with a financial advisor can assure you that your confidence is warranted.

People who have experienced a major life change

Syda Productions/Adobe happy family with baby

Major life events like the birth of a child, a marriage, or a divorce can drastically alter the state of your finances. If you’ve experienced any sort of upheaval or dramatic change, it’s an ideal time to meet with an advisor who can help you adjust your spending and saving habits to match your new reality.

People who are concerned about estate planning

fizkes/Adobe sign health insurance

Worried about dividing your assets fairly among your children? Hoping to leave some money to your charity of choice without imposing any undue financial burdens on your beneficiaries? A financial advisor can talk you through divvying up your assets in a way that’s financially advantageous for you now and for your inheritors in the future.

People who don’t know anything about investing

BullRun/Adobe male entrepreneur confused on information

Investment accounts like 401(k)s and IRAs are a cornerstone of many Americans’ retirement plans, but it’s hard to verify that you’re saving enough money when you don’t know much about investing. An advisor can help you understand which investments make the most sense based on your age, financial goals, and risk tolerance.

People with specific questions about a tricky financial aspect

Wesley J/peopleimages.com/Adobe couple meeting with lawyer

Maybe you know a lot about budgeting and investing, but you don’t know anything about self-employment taxes or estate plans. If so, consider finding an advisor who specializes in whichever field you’re least familiar with. You can stay on top of the financial knowledge you already have while receiving expert help on other aspects of money management.

People who recently inherited money

Drobot Dean/Adobe covering face with money

Coming into money can make a big difference in your life. Financial advisors can help you decide where to invest extra funds to ensure they aren’t squandered. They can also coach you through taxes, help you strategize for retirement, or set up trusts for your children.

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People who can’t seem to stick to their budget

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Perhaps you’ve created a budget time and time again but you’ve struggled to stick with it. A financial advisor can take a look at your budget and help you understand why it isn’t working for you. Plus, you might find that having a third party look at your budget gives you a sense of accountability that helps you commit to your financial plan for good.

People who have financial goals but no concrete plans

cn0ra/Adobe financial goals on notepad

Maybe you can see your financial future clearly, but you’re not sure how to bring it to fruition. Whether you see yourself retiring to a beachside cottage or leaving the workforce early to travel the world, a financial advisor can help you plot a course toward the future you want.

People who are anxious about the future

grinny/Adobe scared man face

Are you worried about your future financial state? You don’t have to live with that anxiety. Bring your concerns and plans to a financial advisor who can give you a good idea of what your future will look like. This can either put your mind at ease or alert you to potential pitfalls that you can create a plan to avoid.

People who want help managing debt

Doucefleur/Adobe scissors cutting credit card financial

Are you having a hard time prioritizing debt payoff? Do you feel like you’re never able to get ahead of your debt no matter how hard you work? A financial advisor who specializes in debt management can help you create a roadmap to crush your debt in a timely fashion.

Bottom line

Allistair/peopleimages.com/Adobe man shaking hands with advisor

While the 13 types of people we listed above should consult a financial advisor, the truth is that meeting with a financial advisor can benefit anyone. No matter what stage of life you’re at or how you’re feeling about your finances, scheduling a consultation can bring you peace of mind and help you prepare for retirement.

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Author Details

Michelle Smith Michelle Smith has spent a decade writing for and about small businesses. She specializes in all things finance and has written for publications like G2 and SmallBizDaily. When she's not writing for work at her desk, you can usually find her writing for pleasure near large bodies of water.

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