People who are concerned over something will inherently seek out the advice of experts for a solution. The sick seek out doctors, those with car troubles seek out mechanic. What about those who have concerns regarding managing their finances? Let us introduce to you what a Financial Advisor does and when is the time to hire them.

A professional financial advisor is a person who is a combination of the following elements:

  • A one-stop shop for all your financial advisory/planning needs.
  • Creates customized financial plans to best suit your needs.
  • Advises you on how best to save, invest, grow, and protect your money to meet your financial goals.
  • Advisory covered areas such as investment, insurance, loans, education funds, estate planning, taxes and retirements, according to customer requests.
  • Official credentials which are good indicators of an advisor’s experience:
    • Certified Financial Planner® (CFP®),
    • Chartered Financial Analyst (CFA),
    • Chartered Financial Consultant (ChFC)

You might already know HOW to select a licensed financial planner in Malaysia, but you may be wondering WHEN should you engage one.

Here are 5 factors that indicate it’s time to get acquainted with a licensed financial planner.

#1. You are young and have little or no knowledge of managing your finances

Most of us grow up not getting a financial education. The subject of personal finance was not in our school syllabus. The common advice was to study hard, get good grades, find a secure job and stay there until retirement. We were never trained to manage our personal finances.

Today, if you feel clueless about managing personal finances, hire a financial advisor. It will speed up your money knowledge to achieve your financial objectives.