Everyone needs sound advice about how to handle their money and plan well for a safe financial future. However, the average person don’t often read the fine print when it comes to financial decisions. Whether it means planning how to best pay off your debt, how to increase your credit score, how to get the best student loans, or simply getting advice on retirement savings, hiring a financial planner is usually the smart option. However, like most, you might still wonder if it is worth the heavy price?

A financial planner passes a demanding CFP certification and is thereby fully qualified to advise you on making some of the most important financial decisions you will ever make.
Some of the advantages of hiring a financial planner include:

1. Plan for the future
With all the stress of daily life, planning for a secure financial future is a tall task for most. A financial advisor will help you foresee the near and distant future and plan successfully for retirement savings, give you advice on investments you should be making, and also guide you on education savings and student loans for when your children go to college.

2. Make complicated financial decisions
We must face the truth. Most of us do not know much when it comes to investments, taxes, improving credit scores, and insurance. The fine print is always mind-boggling. This is where hiring a financial planner can work wonders. With a thorough knowledge of your income and expenditure, he/she can advise you on what kind of investments or insurance you should opt for. Most importantly, financial advisors know all the legislations and laws, so you can be sure you are getting the right knowledge when you need it.

3. Save time and money
Making financial decisions is a tedious and a time-consuming process. Spending some money to hire a financial advisor will truly take a big task off your plate. You simply need to regularly check-in with your financial planner and let them take the big decisions while you breathe easy. This is especially helpful if you are a small business owner.

However, before you hire a financial planner, consider these potential disadvantages as well:
1. A huge expense
Before hiring a financial planner, you need to understand how much money you are planning on investing. If the annual fees you will need to pay to maintain an advisor is more than the interest you will gain on your investments, this might be a bad decision for you. Shop around a bit and find an advisor who charges a reasonable fee. Online financial advisors usually offer great advice for a nominal charge.
2. Commission-oriented
In some cases, financial advisors have been known to churn profits off their clients by only selling policies and loan programs that earn them the most commission. After all, sales is a part of their portfolio. In these cases, certain financial decisions may not always be best for you. Always do a bit of research on your own after your financial planner recommends a scheme to you.
3. Biased results
In some cases, a financial planner may seem less forthcoming towards a client who has a smaller portfolio compared to another client who has bigger investments. This biased attitude would naturally stem from the fact that the financial advisor earns more commission from the latter client. Financial planners have even been known to reject clients who come forth to make very small investments.