Financial Consultant: What They Do and Why You Need One

Overwhelmed with your finances but don’t even know where to start with getting them in order? You have a few options: bury your head in the sand, subscribe to personal finance blogs and podcasts to learn from others, or hire a financial professional.

Instead, we’re just thrown into the deep end and expected to fend for ourselves when we become “adults” — often leading to complications. Or maybe you consider yourself well-informed, but you don’t have the time or resources to manage your increasingly complex financial situation.


What is a Financial Consultant?

A financial consultant provides personal finance advice and guidance to help individuals meet their goals and overcome obstacles along the way.


Financial Consultants vs. Financial Advisors

On the surface, they look extremely similar. Both give financial advice to their clients on similar finance topics, both work directly with clients to guide them through their queries, and both can be either self-employed or work on behalf of companies.


What Do Financial Consultants Do?

When you first arrange to work with a financial consultant, it generally involves at least two appointments: one where the consultant tries to get an overall understanding of your goals, and another where they may begin to offer specific advice.


How Can Financial Consultants Help You?

If you’ve recently been through a significant life event that will impact your finances, like marriage or retirement, it’s a great time to bring a financial consultant on board to help you plan everything properly, especially if you’ve been through job changes and have multiple investment accounts and retirement plans that you can barely keep track of them all.


How to Find a Financial Consultant

A great place to start is, a website dedicated to helping people find the right financial professionals and resources for their individual needs. You’ll find directories for financial advisors and coaches, plus hundreds of personal finance blogs and podcasts worth exploring.

If you’re not used to paying for financial services, the idea of spending money to hire a financial consultant might seem indulgent. Maybe you feel guilty about it.

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