What Is The True Value of a Financial Advisor

William Miller |

When someone says I have a financial advisor or I work with a financial planner, what’s the first thing that you hear?

The financial planning industry can mean a lot of different things to each person. Some of the common overlaps with planning are investment management, insurance, tax planning, etc. All of these are areas that a financial advisor should cover in the planning process. With that being said, is that the true value of the planning relationship?

A Partnership

Accountability is key in anything that we do: reach a sales goal, save for a down payment on a house, or stay on track without investment contributions. The best financial plans (or any plan for that matter) are the ones where actions are taken. It is important to have conversations with yourself/your partner about not only your finances but your goals in life. This can be hard because those conversations can be awkward or uncomfortable. As your life changes and you are trying to adjust to new situations, trying to stay on track with your finances can get lost as a priority. Having that partner to help you stay accountable is priceless.


Understanding how to do something and why you are doing it is extremely important. If something does not make sense or it is unclear how it will help you then it is unlikely it will be/stay a priority for you.

I searched “How to Contribute to a 401k” on google and there were 9,650,000 results! Now there are likely tons of value in the results but none of the articles will be applicable to YOU. Working with an advisor allows you to get all the benefits from the information on google BUT blocks out all the excess noise that does not apply to you.

More “Free Time”

Is it possible to manage your own financial plan and do all the research to make sure that:

  1. You are doing it legally and correct
  2. You are making updates ongoing
  3. You are not reacting emotionally

Now can you do this? Absolutely, there are plenty of people who can and love diving deep into their finances, but do you want to? Doing the research into what accounts you should have, what investments you should have, should you have a trust or a will, and how much insurance you should have, can take a lot of time. That is time that you could be doing something else. Having a financial planner that you trust will allow you to free up your time and give you more opportunities to enjoy the activities you love.


The last area that shows the true value of a financial advisor is reassurance. The first 3 aspects (a partnership, clarity, and more free time) all encompass the reassurance. Knowing that the advisor you chose to work with has your best interest in mind and is helping you achieve all your goals allows you to take a step back and relax. Finances can be stressful, especially if you are not sure what you need to do. Being able to take a deep breath and not have to worry about all the little things is truly the greatest value an advisor can give you.

Final Thoughts

A financial advisor can add value to the traditional aspects of finances (investments, insurance, taxes, etc.) but the true value can be in the intangible aspects. Being able to work with someone that you trust and that can deliver value to you outside of just performance is priceless.



*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax, legal, or investment advice and may not be relied on for purposes of avoiding any federal tax penalties. Individuals are encouraged to seek advice from their accountant, financial planner, and counsel. Neither the information presented, nor any opinion expressed constitutes a representation by WM Wealth Planning as a specific recommendation to the purchase or sale of any securities/investment. Asset allocation and diversification do not ensure a profit or protect against loss in declining markets. This material was developed and produced by WM Wealth Planning for educational purposes*­­­