Gains accumulated in multiple years can be wiped off within days if some unfavourable news breaks out. In cases like this, investors start to panic.
And this leads us to a few questions. Should we manage our finances by ourselves or outsource them to a financial advisor? Will the benefits of hiring a financial advisor cover the costs?
Well, we give you 5 reasons to hire a financial advisor:
Lack of Time and Resources
Stressing out might result from the lack of time and resources with an individual searching about the potential asset classes and individual securities appropriate for him/her. Do you not hesitate to hire professionals such as a barber for a haircut or a painter to paint your house? Why hesitate when it comes to handling money? So if you are busy with your job or business and lack time to manage and grow your money, it’s probably time to hunt for a financial advisor.
Need to Talk About Money
Just like when an individual wants to discuss different career choices, he/she visits a career counsellor. Similarly, you should go to a financial advisor if you need to discuss your finances with someone.
Suppose you want to discuss how to grow your money to reach different financial goals, your financial background, risk appetite, preferred asset classes, and return expectations, you need to have someone by your side who understands all this and executes investment decisions in the desired manner.
Doubtful of the Benefits You’ll Receive
When you are sure that the benefits of hiring a financial advisor will be more than the costs of the same, you should go for it.
This is because when you do not view your decision to hire a financial advisor as doubtful, you will be a more satisfied client. Also, a good advisor can provide customised services to you regarding asset allocation, tax management, and legal issues. These benefits will far outweigh the costs of management or performance fees.
When You Feel It’s Complicated!
This can be the case if you have too many loans and you’re confused about the repayment order, so your interest burden decreases abruptly. Simultaneously, if you want to grow your money through investments, you should hire a financial advisor who can sort these issues optimally.
Volatility Makes You Emotional
If you make investment decisions by investing too much emotion in them, you probably need an expert who manages your finances by keeping emotions aside.
The emotional biases your advisor displays while investing will be much lesser than in the case you invest yourself. This is because of the advisor’s experience with the ups and downs of the market.
The Teji Mandi Way!
If you are looking for a solution to invest your money in the stock market, then you can count on Teji Mandi. We aim to simplify stock market investing by providing advisory services via an app.
Services and the portfolios provided by Teji Mandi is well researched, suited to your risk profile and are actively managed. We also provide the rationale about why a particular stock has been added to the portfolio and how will it add value to the existing portfolio.
Besides, subscribers of Teji Mandi are also provided with an ocean of financial content to dive into, which adds value to their investing journey!
Did we tell you that our subscription cost is extremely low, which doesn’t change based on your investment amount?
Get the Teji Mandi App: https://bit.ly/38rha3O