Michael Joyce spoke with Rachel DePompa of NBC12 about the when and why of hiring a financial advisor.
You Don’t Need A Lot of Money to Hire a Financial Advisor
A lot of people have the misconception that you need a lot of money to have a financial advisor, but Michael says that’s just not true. He says to think about it like this: “You hire a painter, right? They can do something better than you can, and they can do it at a reasonable cost.”
Benefits of Hiring a Financial Advisor
Financial advisors can help with strategizing how to pay off student debt or how to save for that first home. They can also help determine how much insurance you need. They make recommendations for getting estate documents in order. And they help you know how much you need to save for college.
Financial Advisors Help with Decision-Making
Resources to Help Find the Right Financial Advisor for You
Michael says you don’t need to have somebody that’s going to be charging a lot of money either. Some financial advisors charge an hourly rate. There are also financial advisors who work for commission or charge a flat fee.
If you’re looking for some basics in financial planning, we recommend reading our blog post, Three Components of Financial Planning.
If you’d like to know more about Agili and how we act as our clients’ Personal CFO (our ethics, our investment philosophy and how much we care for our clients), we invite you to view our video included in this blog post, About Agili: Get to Know Your Personal CFO.