DM5a. Seeking Expert Advice
If making a major financial decision, professional advice can ensure we receive informed, objective guidance tailored to our unique situation.
When to seek an advisor
- Making any investment or buying real estate
- Managing debt
- Planning retirement
- Advice on other areas (eg. tax or insurance)
- Estate or will planning
- Creating a financial plan
Below are examples of situations and advisors we may seek
| Situation | Advisor | How they can help |
|---|---|---|
| Creating a financial plan | Certified financial planner (CFP) | Develop comprehensive financial plan based on goals and financial situation. |
| Investment management | Investment advisor | Provide guidance on investment strategies, portfolio management, and asset allocation. |
| Retirement planning | Retirement planner | Help you create a plan to save and invest for retirement, considering age, risk tolerance, and retirement goals. |
| Tax planning and preparation | Certified Public Accountant (CPA) | Assist with tax planning strategies, prepare and file tax returns, and ensure compliance with tax laws. |
| Estate planning | Estate Planner or Attorney | Help develop a plan to preserve and distribute assets according to wishes, while minimizing other expenses. |
| Insurance needs | Insurance Agent or Broker | Assess insurance needs, recommend suitable policies, and help purchase coverage. |
| Real estate transactions | Real Estate Agent or Broker | Assist with buying, selling, or renting property, and guide through transaction process |
| Debt management and credit counseling | Credit Counselor | Provide advice on managing debt, improving credit, and creating a budget to achieve financial stability |