Everyone’s financial situation is unique, so while you may receive financial advice online or from a friend or family member – you will not get the customized and expert guidance that you will from a professional financial advisor. If you think financial advisors are just for the wealthy, think again. Financial advisors, like those from Ameris Bank, can help when you are approaching major life changes, you are self-employed, and more. To determine if you need a financial advisor, read on. 

What does a financial advisor do? 

The term financial advisor provides paid, professional financial guidance to their clients. They are a partner to those looking for financial advice, help plan against financial goals, educate you about financial matters and more. Financial advisors can include bankers, money managers, stockbrokers, insurance agents, money managers, estate planners and more. A financial planner is a type of financial advisor, ideally certified with the Certified Financial Planner Board of Standards (CFP), who has fiduciary responsibility to act in their clients’ best interest. 

Four Reasons You Should Hire a Financial Advisor 

You’re approaching a major life change 

Major life events are a great reason to hire a financial advisor. Graduating college, getting married, buying a home, starting a family, or nearing retirement are all key life milestones that may make scheduling an appointment with a financial planner a smart move. Milestones usually come with a change in finances and it’s smart to seek expert financial guidance during these times. For example, when you are approaching retirement, a financial planner can help you choose the right strategy for withdrawing from your retirement accounts. Or if you are getting married and thinking about starting a family, there are a lot of financial responsibilities you may need help navigating, including the added expenses of raising a child, purchasing life insurance, joining bank accounts with your spouse and more. 

You have a high income or net worth 

If you are a high earner or have a high net worth, you may benefit from having a financial planner or advisor help you manage your money. A financial planner may save you time and money by recommending an individualized investment plan, tax-savings strategy, estate plan and generally help you maximize your money to allow you more time to focus on what matters most to you.  

You work for yourself 

Being self-employed can be amazing but also comes with a unique set of financial options. A financial advisor can help you choose the right retirement account, manage your employees’ salaries, navigate your variable monthly income and more. The benefits of a financial advisor for self-employed individuals are important, because having someone effectively manage your hard-earned money will allow you to focus on managing your business efficiently.  

You have unique financial needs 

It may be wise to consult with a financial advisor if you are in a special financial situation. For example, if you have multiple loans, meeting with a financial advisor that specializes in repayment options would be best. Or if you are recently divorced or widowed, it may be beneficial to seek a financial advisor that specializes in helping you manage your money as a newly single person, especially if here are children involved. 

2 Reasons Why You May Not Need A Financial Advisor 

You have a low disposable income   

A financial advisor charges a fee for their services, so if you are on a strict budget or don’t have any of the unique circumstances outlined above, you may not need financial advisor. To avoid the cost of a financial advisor, you may want to start by seeking out free resources that you can seek out to help you with your financial management including helpful articles from Ameris Bank. 

You have a lot of debt 

If paying off loans or credit card debt is your main focus, meeting with a credit advisor may be more helpful than hiring a financial planner. There are also many non-profits whose main goals are to help people manage their debt and live a financially healthy life. 

Not ready for a financial advisor but still need some help with your finances? Contact Ameris Bank to find out what our Private Banking Team can do for you. 


Reviewed April 2025

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.