Is it Worth Using a Financial Advisor?

by | Dec 14, 2023

Effectively managing your wealth is crucial for your financial well-being, particularly if you are a high-net-worth individual (HNWI) seeking assistance in handling your finances. You may have contemplated the idea of engaging a professional to assist you in this endeavor. These experts offer a wide range of services, including investment management, tax planning, estate planning, and more. But the question that you need to ask yourself is, is it worth using a financial advisor?

To answer this question, we need to look at the ins and outs of managing your finances and weigh the pros and cons.

What is Involved in Managing Your Finances?

This specialized field concentrates on guiding HNWIs through their financial lives. This encompasses financial planning, investment management, tax planning, estate planning, risk management, and various other services. These professionals, with their extensive training and expertise, are capable of delivering personalized solutions tailored to your specific circumstances.

Why Consider Professional Assistance?

There are many reasons to consider engaging the services of a professional. Here are some of the benefits:

Extensive Knowledge and Expertise

These professionals possess in-depth knowledge and education in finance and investment. They can navigate the intricacies of the field, providing expert advice on ways to optimize returns while mitigating risks.

Tailored Approach

Personalization is key. Professionals in this field understand that each client has unique financial goals and constraints. They take the time to comprehend your circumstances and deliver customized advice accordingly.

Time and Stress Relief

Managing your wealth can be time-consuming and stressful. By enlisting the help of a professional, you can offload the financial aspects of your life. This allows you to focus on other important priorities while having confidence in the management of your wealth.

Peace of Mind

Entrusting your financial affairs to a professional offers peace of mind. They can guide you through potential market volatility and economic uncertainties, helping you achieve your long-term financial objectives.

The Price of Managing Your Finances

Availing financial management services comes with a certain price. Most professionals in this field charge a fee based on a percentage of the assets being handled. These charges typically range from 0.5% to 2% of your total assets under management (AUM), and some may even demand higher fees for managed accounts.

Before deciding on engaging a financial professional, it is crucial to carefully consider the price associated and evaluate whether the benefits match up. If you have a small portfolio, the fees may outweigh the benefits. However, if you have a large portfolio, the benefits of using a wealth manager may outweigh the costs.

Assessing a Financial Advisor

Choosing the right financial advisor is crucial to ensure the achievement of your financial goals. When selecting an advisor, it is important to consider the following factors:


Look for an advisor with extensive expertise in managing finances, as well as a proven track record of helping clients achieve their financial goals.


Seek an advisor with appropriate industry certifications, such as CFP® (CERTIFIED FINANCIAL PLANNER™), CFA (Chartered Financial Analyst), or CPA (Certified Public Accountant).


Consider the range of services offered by the advisor and determine if they align with your specific financial needs.


Evaluate if the advisor’s investment philosophy aligns with your investment goals and risk tolerance.


Choose an advisor who communicates clearly and consistently, providing updates on your portfolio’s performance and any strategy changes.

Is it worth using a financial advisor? The answer depends on your circumstances and financial goals. 

Work with us

Contact one of our trusted financial advisors today to begin planning for a prosperous future. At Kreitler Financial, we specialize in helping clients like you achieve their financial and retirement goals through our comprehensive financial planning and retirement planning services. 

Take the first step towards a secure future and reach out to us today.