Making long-term decisions about money can be difficult and even scary. Many people turn to financial advisors to seek help on their financial decisions. There are many advisors that offer good advice but deciding whether or not they are worth the price, effort and time can be confusing. Using the help of a financial advisor is a smart move as they often have a broader and deeper knowledge of money management than most of us. They can also, help us figure out our savings strategies, investment options and overall retirement plan, which takes a big burden off our heads.

Let us go through the key benefits of working with a Financial Advisor.

1.Professional review of Goals & Investments: Gives Clarity about your Financial Journey 

A financial advisor will spend the time to understand your needs and aspirations and prepare a financial plan to achieve them. Based on your risk profiling and requirements of goals, proper asset allocation is done. There is a possibility that initially, you might not be comfortable with taking risks in investment, but with a financial advisor, you will gradually get confident to invest in risky investments like equity market. They are typically very experienced in hand-holding you throughout your investment journey.

2.Proper Asset Allocation: Gives more bang for your investments

During our lifetime we continue to amass various assets. But most of are not even aware of what is the proper asset allocation that one must follow while acquiring assets. Many among us invest most of our funds (close to 70-80%) into Real Estate. Investing in real estate has become popular and is a common investment vehicle as most people assume that the money won’t be lost if invested in the real estate and this eventually messes up the asset allocation.

3.Continuous Tracking & Re-balancing:Reduces overall risk in the portfolio

Starting your investment journey as per plan is just that, a start. The real benefit of having a financial advisor comes from ongoing reviews, periodic rebalancing of the portfolio and taking corrective actions on the portfolio based on life changes, goals modifications of the performance of funds.