Should you hire a financial planner? | Smart Money

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A finance professor at Messiah University explains when hiring a financial planner pays off.

MECHANICSBURG, PA – Are you getting married? To buy a house ? Outgoing? If you have big financial decisions to make, it might be time to bring in a financial planner.

“I think a lot of it depends on where you are in your life,” said Dwayne Safer, assistant professor of finance at Messiah University.

He says that a financial planner can be of use to almost anyone.

“The way I like to look at a financial planner is sort of like a fitness instructor,” he said. “So even if you are a bodybuilder, you have an instructor who is going to make sure you stay the course.”

However, a financial planner may not be the best decision for someone early on in their career. There are things you should consider when deciding if a financial planner is right for you, such as where you are in life and what assets you have to offer.

“Once you get a little further along in your career and start building up assets, it doesn’t have to be a lot. It could be $ 20, $ 30, or $ 50,000, thinking of a house, that’s when you should really start thinking about a relationship with an advisor, ”Safer said. “Maybe you get married, maybe you have kids. These are usually events where you think you need a financial advisor to provide expertise that you don’t have. “

Safer recommends choosing a financial planner early in your life so that they can be with you through the financial journey of life.

Safer also said that when choosing a financial planner, it is important to choose someone who is a certified financial planner. You can always search for a potential financial planner through the United States Securities and Exchange Commission.

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