When Should You Get a Financial Advisor

Managing your money can feel overwhelming at times, especially when life gets busy or big financial decisions are on the horizon. That’s where a financial advisor can make all the difference. But when to get a financial advisor depends on your personal goals, financial situation, and the level of guidance you’re after. 

 

Before we explore when and why to hire one, let’s take a look at what do financial advisors do and how they can support you at different life stages.

What Do Financial Advisors Do?

In simple terms, what financial advisors do is help you make smarter money decisions. They work with you to plan for the future, grow your wealth, protect your assets, and stay on track toward long-term goals. A financial advisor may help with budgeting, investing, retirement planning, superannuation advice, estate planning, and more. Some are licensed to recommend financial products, while others provide strategic guidance.

Whether you’re looking to buy your first home, start investing, or build a safety net for retirement, a financial planning expert can be a valuable partner.

When To Get a Financial Advisor?

There’s no one-size-fits-all answer on when to get a financial advisor, but there are some particular scenarios where professional help is a smart move:

1. You’re Starting to Build Wealth

If you’ve landed your first well-paying job, inherited money, or want to start investing, an advisor can guide you in setting realistic goals and choosing strategies that suit your risk tolerance and timeline.

2. Major Life Changes Are Happening

Getting married, starting a family, or buying a home? These moments can come with emotional and financial stress. An advisor can help you stay financially stable and adjust your plan accordingly.

3. Planning for Retirement

The earlier you start, the better. An advisor can make sure you’re on the right track with your superannuation savings and help optimise your strategy so you can retire comfortably.

4. You’re Feeling Overwhelmed

Managing money takes time and expertise. If financial decisions are causing you stress or you simply don’t have the time, getting help from an expert financial advisor can ease the pressure.

5. You’ve Hit a Financial Roadblock

From dealing with debt to navigating an unexpected expense, an advisor can help you develop a recovery plan and prevent similar issues from happening in the future.

Is a Financial Advisor Worth It?

If you’ve asked yourself, “is a financial advisor worth it?”, you’re not alone. Many people hesitate because of the cost. But good financial advice often pays for itself over time through better decision-making, smarter investments, tax efficiencies, and peace of mind.

 

Think of it this way: the value of financial advice isn’t just in growing your money, it’s also in protecting it.

Types of Financial Advisors: Which Is Right for You?

There are several types of advisors, and the best one for you will depend on your needs.

1. Fee-Only Advisors

They charge a flat fee or hourly rate, without commissions. 

Pros: They’re more likely to offer unbiased advice. 

Cons: Fees can seem high upfront. 

Best for: People who want independent advice.

2. Commission-Based Advisors

They earn money from the products they recommend.

Pros: You may pay less upfront.

Cons: There can be conflicts of interest.

Best for: People who prefer ongoing product-based support.

3. Robo-Advisors

These are digital platforms that offer algorithm-based financial planning.

Pros: Affordable and easy to access.

Cons: Lack of personalisation.

Best for: People with simple investing needs.

4. Hybrid Advisors

A blend of tech tools and human support.

Pros: Balance of affordability and personalised advice.

Cons: Still less tailored than one-on-one services.

Best for: People who want some personal touch at a lower cost.

What to Know Before Hiring a Financial Advisor

Before committing, there are a few important things to keep in mind:

• Check qualifications and licensing: In Australia, financial advisors must hold an Australian Financial Services Licence (AFSL).
• Understand how they get paid: Are they fee-only, commission-based, or a mix?
• Know your goals: Being clear about your short- and long-term financial goals will help you get the most out of the experience.

Top Questions to Ask a Financial Advisor

Not all advisors are the same. Here are a few key questions to help you find the right match:

• What experience do you have with people in my financial situation?
• How do you get paid?
• What services do you offer?
• How often will we meet?
• Can you provide a sample financial plan?
• Are you licensed and independent?

Asking the right questions will ensure you feel confident and informed before making any decisions.

How to Find Financial Planning Help

Finding the right advisor starts with understanding what kind of support you need. You can search online, ask for referrals, or use professional directories. But if you want help from a trusted name with a reputation for long-term client success, Inovayt is here to help.

Our team of professional advisors can walk you through the entire process and help you gain clarity and confidence in your financial future. Whether you need help getting started or want a second opinion on your current strategy, Inovayt offers tailored solutions based on your goals and life stage.

We take the time to truly understand your needs—because financial planning shouldn’t feel like guesswork.

Ready to take the next step? Speak to a qualified Inovayt advisor today and discover how to find financial planning help that actually works for you.