What Do Financial Advisors Do and Are They Necessary? The Best Financial Advisors in 2021

    Handling and investing your money can be tough. That is where financial advisors come in handy. A financial advisor helps you to manage and plan for your finances well. The best financial advisor will advise you on how to save up your retirement, to manage debts, to diversify your income, to budget for family entertainment, or to extend paycheck. In this article you will learn the benefits of having and how to find the best financial advisor.

    What Is the Role of a Financial Advisor?

    1.A financial Advisor is your financial planning partner

    A financial advisor helps you to accomplish your financial goals as planned. For instance, you want to retire in the next 20 years, or buy a prime property. The role of a financial advisor is to ensure all your financial goals fall into place.

    To get here, the financial advisor will tell you the amount of money you should save, the nature of accounts to open, tax matters, estate planning, and the insurance covers you should take.

    2. A financial advisor is a money matters educator

    To achieve your future financial plans, the financial advisor will help you to understand what is involved in getting there. With the help of the advisor, you will learn different financial topics such as budgeting, saving, tax, insurance, and investment.

    3. Helps with the Management of Debts

    A financial will help you to come up with a practical debt settlement plan. If you have loans such as car loans, mortgages, debit card debts, or student loans, you should talk to your financial advisor.

    The Best Financial Advisors You Should Consider Consulting


    The vanguard personal advisor offers its clients a series of investment and financial advice. It is among the first financial advisors to help their clients on retirement funds management on low cost index funds. Also, the company offers financial planning advise to clients who have large balances.

    To get started with the vanguard financial assistance, you require an account minimum of $50,000. It charges a management of 0.30% of the total account balance.

    Vanguard is a robotic service advisor. Therefore, you are assured of reliability and accessibility for improved results.

    The financial advisor is best suited for large account holders, who are making savings for college, retirement, or other long-term financial goals. If you have a savings of more than $500,000, you will have a personal financial advisor assigned to your account.

    2. Facet Wealth

    Facet Wealth financial advisor does not require you to have any account minimum balance to use their financial advisory services. However, they have monthly charges for using the services which is $100 or more per month.

    With free consultation and as one of the best financial advisors, the platform assigns you a dedicated and professional CPF for the period of the service.

    The services offered by Facet Wealth include, investment advice, financial planning, creating a portfolio, and planning a retirement account among others.

    The Facet Wealth financial advisor has several communication channels such as video calls, live chats, phone calls, among others.

    3.Betterment Premium

    Another platform which is among the best financial advisors is the Betterment Premium. To access their financial services, you should have a minimum account balance of $100,000 and a management fee of 0.4% of the account balance.

    The robo-advising platform has assets worth over $11 billion which it manages. Betterment Premium comes in handy for people who have huge amounts of money and need assistance to manage it.

    The services offered by the platform includes, retirement account planning, financial advising services, finance planning, estate management and transfer of properties.

    Every account holder at Betterment gets an unlimited access to CFPs. It is suitable for people who want to expand their investment portfolio as well as new investors.

    4. Personal Capital

    Personal capital is a robo-advisor platform that offers financial advisory services such as creation and management of clients’ portfolios, management of retirement accounts, execution, and planning savings goals among others.

    The services of personal capital are a blend of human creativity and algorithmic reliability which ensures the client has an easy time with the account.

    To use the financial services of Personal Capital, you need a minimum account balance of $100,000 and a management fee charges of 0.49% to 0.89%.

    Personal Capital financial advisors focuses on high-value clients who have a minimum account balance of $200,000.  With such a balance, you get assigned two financial assistants dedicated to your account. With less than $200,000, you will have access to a group of financial advisors who manages the host accounts.

    5. Charles Schwab

    Charles Schwab is considered one of the best financial advisors out there. To have an account, you need to have an account minimum balance of $5,000. It is open for everyone, even if you have just a small amount of money. Charles Schwab is a blend of both human and robotic financial planners for the best outcomes. The platform charges $0 commission on all types of trades.

    6.Harness Wealth

    Harness Wealth is not a financial advisor platform, but it connects you to the best financial advisors. To use their services, you need to have a minimum account balance of $250,000 at fee rates of 1% of portfolio per year.

    You should not that the fees they charge are separate from what the advisors will charge. The services you can get from the arrangement are tax issues advise, estate planning, investment account management, retirement account planning and management, among others.


    SmartAsset is among the best financial advisors you can trust with your financial matters. The platforms help you plan and manage your finances by asking you all the necessary questions. Also, it gives you all the necessary information regarding your finances.

    To have an account, you do not need to have a minimum balance. The cost of the services depends with the financial advisor handling your case. The SmartAsset is more of your lifestyle advisor, not just the financial aspect. You can get information on matters such as retirements, credit cards, banking, estate planning, taxes, covid-19 among others.

    How to Find the Best Financial Advisors?

    A financial advisor will help you determine the direction you are taking for you or your family financially. You have to apt and critical when looking for the best financial advisors. Finding the right advisor may take some time, but you will have good financial manager for a long time. Use the following strategies to help you find the right financial advisor:

    1.What Type of Financial Advisor Do You Want?

    There are different categories of financial advisors and their roles are numerous that you think.  Some offer savings, others investments, taxation matters, or financial planning among other services. To find the right financial advisor, you need to have a clear picture of your financial plans and goals.

    For instance, do you need financial planning advise? Therefore, you need to find a financial expert who deals with financial planning. Same thing if you are looking for investment, taxation, or retirement advice.

    Also, there are financial advisors who are either best suited for companies or organizations while others for individuals.

    2. Ensure the Financial Advisor You Choose is qualified with Credible Credentials

    Ensure the financial advisor you choose is well qualified. Ensure the certification are reputable with a designation from CFP the Certified Financial Planner(CFP) or Personal Financial Specialist (PFS).

    The financial advisor with CFP credentials are professionals who owes their clients fiduciary standard of care.  This means your interests as a client comes first.

    In addition, to the academic qualifications, the financial adviser should have a good track record and must adhere to ethics and policy set for the financial experts and professionals.

    3. What is the Cost of Hiring a Financial Advisor?

    Different financial advisors have varying compensation rates. However, the best financial advisors are fee-based only. Some may charge hourly fee, asset-based fee, or commissions.

    There is no prescribed way that the financial advisor should charge. You should be guided by your budget when looking for a financial advisor.

    4.Use Search Engines for Better Results

    The fastest way of getting the right financial advisor in your area is through a quick internet search. You will be able to check the credentials of each advisor, as well as their fees. In addition, you can work with an expert remotely without the need for physical meeting. This means, you can work with the best financial advisor, even if you are miles apart.

    5.Before Hiring the Financial Advisor, Ask them the Necessary Questions

    Communication is key when it comes to building a relationship with your financial advisor. If during the initial stages of your relationship the advisor is not fast enough to communicate, you should drop their services.

    Other questions you should ask are: their level of experience, their rate of compensation, among other questions you may have. Having set specific questions will help you determine if the advisor is good at communication and thus fit for the job.


    Based on statistics from the National Financial Education Council, lack of financial education costs average person in America $1,200 annually. Having a professional financial advisor will help you to stay focused on your future financial goals and avoid falling on financial pitfalls.


    • December 7, 8.00
      D. jhon shikon milon

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