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7 Financial Situations When You Absolutely Need a Financial Advisor

Your finances are an important part of your life, and you want to make sure that you’re managing them effectively. After all, you don’t want to fall into debt or lack the money to afford your monthly expenses when something unexpected happens. However, many people prefer to do their own financial planning rather than rely on outside help. While it’s true that you can take control of your finances without relying on anyone else. There are some situations where working with a financial advisor can be very beneficial.

1)Managing your finances

As your financial situation changes over time (and it will), your needs as an investor change too. People with different incomes and different saving or investing goals can choose between several types of accounts, including RRSPs, RESPs, TFSAs, RRIFs and RDSPs. People with complex financial circumstances may need to consult a financial advisor for advice on what account is best for them. The good news is that there are many qualified professionals available. Who can guide you through these decisions and help you manage your finances effectively. The challenge comes when you know where to find one in your area—especially if you’re still new to Canada or don’t have local contacts. How do we solve it?

2)Investing your money

Although it may sound intimidating, investing doesn’t have to be as scary as you think. There are plenty of different strategies for putting your money to work for you. Financial advisors help guide their clients through all stages of investing from choosing an investment product to making sure they stay on track once they’ve started. If you’re not already working with a financial advisor or want help identifying one, ask your friends and family who they trust and consider asking financial questions at networking events.  Some people call what we do financial advising and some use financial planning. Because we deal with more than just investments – though that is where we tend to focus most often.

3) Retiring

The first step in what should be a careful financial review is to understand your current financial situation. If you’re like most people, that might mean doing some number-crunching for which you’ll need assistance from someone who understands complex matters. Don’t rely on instinct or rote numbers. It’s important to understand every aspect of your financial picture and how it might affect your future plans—and that can be difficult without help from someone who can provide you with professional advice based on your particular circumstances and needs. If you find yourself in one of these seven situations, it might be time to call an advisor: 1. We’re talking about retirement here, but how much money do you have right now?

4) Medical Bills

No one likes dealing with medical bills. However, sometimes they’re necessary. In many cases, they’re insurance-covered. But occasionally you’ll have to deal with them on your own and that’s when you need an expert to help you through financial situations like these: -Medical Bills from Your Hospital Stay. If You Receive a Huge Bill After An Out-of-Network Procedure -If You Didn’t Know About A Hidden Fee (such as an administrative fee) -Uninsured? What To Do If All Your Medical Expenses Aren’t Covered by Insurance If there’s ever been a time when you’ve needed professional help to untangle your financial situation—it’s now! Find out why it pays to work with an investment advisor here.

5) Divorce

To start, we’re going to assume you aren’t getting divorced. We’re also going to assume that if you are getting divorced. You’ve already consulted with an attorney and have all of your financial assets formalized through legal documentation. Finally, we’re going to leave spousal support (or lack thereof) out of it because it comes down to many variables and each situation is different. For those who are asking themselves do I need a financial advisor when I get divorced? and don’t meet any of those criteria… yes!

6) Tax Planning

We are here to simplify tax planning for you! Tax planning can be daunting to Canadians, but we’re here to help! Tax planning involves arranging your life in such a way that you pay as little tax as possible. A good financial advisor will be able to help with ensuring that you are at least meeting your legal obligation and aren’t breaking any rules along the way. If there are ways to reduce what you owe in taxes. That means more money in your pocket for other things. It is worth noting that while some of these tips may require professional assistance from a financial planner or accountant. They should all still be considered by anyone who wants to ensure they get their fair share.

7) Estate Planning

Everyone has to write one of these things sometime, even if you don’t think you will. Getting your affairs in order is part of being an adult, so don’t put it off. Estate planning isn’t all about legalese and tax loopholes—it’s about what is most important to you. Which helps guide your family members who survive you through complex issues that can be hard to deal with when grief-stricken. If you haven’t started planning for your final financial situation or are considering options outside of traditional estate planning. Give us a call to chat with our financial advisers in Alberta. We can answer any questions and help get everything in order (and not just financially). We want to ensure that we have all your bases covered before anything happens.


If you’re worried about retirement, an inheritance, paying for your kids’ college education or any of a number of financial situations. It might be time to call in an expert. A financial advisor can help you stay on track with your retirement savings and reduce risk by offering suggestions on how much money you should have in certain accounts. He or she may also offer investment advice if that’s something you nee. But remember, there are many different types of advisors out there. Before deciding which type is right for you (fee-only, fee-based or commission). Make sure to research their services so that you know what they charge and what they offer.

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