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Who is a Financial Advisor? And Should You Have One

By Chanel Rick - Mar 23,2022
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“Are my investments stuck in a rut?” is a frightening realisation for most novice investors. 

This could be the aftermath of your investments performing poorly due to negligence, insufficient knowledge of the market, or flawed investment strategies. Either way, nobody wants to suffer the consequence of poor investment management. Especially after spending hours tirelessly working. After all, even the most financially literate need some degree of professional guidance.

So, What’s a Financial Advisor? 

Financial Advisors counsel you on personal finance/money management and investment planning. They take on a holistic strategy, assessing your current economic conditions, including your income and assets, debts and other expenditures. With this insightful data, they can provide solutions for areas of improvement. 

You can easily avail of their expertise by reaching out to solo Financial Advisors or approaching financial firms. 

How Do They Work? 

Financial Advisors typically design a plan based on your financial goals and objectives. This includes counselling on matters like tax planning, emergency fund creation, debt repayment, and funding a retirement plan. Furthermore, they can help you invest your money by suggesting particular investments or providing assistance with investment management.  

With the melding worlds of finance and technology, you can now avail services from a diverse range of financial advisory mediums. 

1. Robo-Advisors

Furnished with low-cost options, Robo-Advisors generate computer algorithms to manage your investments. However, most of your interactions will be Artificial Intelligence (AI) based. 

Benefits & Features

→  Recommended for investment management beginners

→ Receive high returns from the stock market 

→ Easily make lump-sum investments 

→ Open to low budget investors 

2. Online Financial Planning Portals

Merging the convenience of a virtual space with effective investment control strategies, Online Financial Planning Portals are comparatively cheaper than traditional Financial Advisors. 

Benefits & Features

→ Save money via virtual meetings 

→ Access to a wider range of financial services 

→ Ease of Robo-Advisory with a crew of human Financial Advisors

→ Dedicated support from highly-qualified and experienced experts

3. Traditional Financial Advisors

Also known as Certified Financial Planners, Money Managers, or Stockbrokers, they often require individuals to invest a larger sum and incidentally, charge you a higher fee. 

Benefits & Features

→ Creating financial strategies for upcoming events like weddings, childbirth, buying real estate, etc

→ In-depth discussions on your short, medium and long term goals 

→ They can handle most major financial concerns, unlike Robo-Advisors or Online Financial Planning Portals


Types of People Who Need Financial Advisors

1. New & Young Investors

Inexperienced investors are more likely to encounter fiscal barriers. Seek out Financial Advisors and learn about the benefits of compounding interest. They can create a timeline that manages your investment outgo, along with potential future debt repayment. 

2. Intermediate Investors 

Regardless of your fiscal prowess, you may still require some expert advice to navigate through financial quandaries. If you need one-time advice, then it’s best to approach hourly Financial Advisors. In case you require these services for longer periods, opt for experts who charge annually. 

3. The Hands-Off Investors 

If you can’t make heads or tails of financial jargon or figure out investment plans, you aren’t alone! Let a Financial Advisor take charge until you overcome your financial fears. They will oversee the progress of your investments, and steer them out of danger, on your behalf. 

4. Self-Employed Investors 

As an entrepreneur, you’re used to the solo struggle of jugging business and finance. With a Financial Advisor, you can get suggestions on the go! Whether you should consider incorporating or seeking out various business insurance and loans, a Financial Advisor can aid in your ventures. 

5. High Net Worth Investors 

Whether you have a large income, or just came into an enormous inheritance, you need to employ the tax-planning expertise of Financial Advisors. Protect your hard-earned or inherited wealth with their advice on tax and real estate planning. 

Don’t shy away from Financial Advisors! Embrace the opportunity to benefit from professional advice. Smoothen out the rough edges of your financial plans today. 


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Bajaj Finserv Direct Limited ("BFDL") is primarily engaged in distribution of financial products and services through its digital platform (“Bajaj Finserv MARKETS”) and inter alia renders services of customer acquisition, providing preliminary credit support activities, fulfilment services and post-acquisition customer services to Banks, NBFCs, HFCs. BFDL is also a registered Corporate Agent (Composite) under valid IRDAI registration number: CA0551 valid till 10-Apr-2024 for solicitation and servicing of Insurance Products. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522