What is a Financial Consultant and What Can They Do For You?

A financial consultant helps you take control of your money, make smarter decisions, and plan for the future. Research shows professional financial advice can boost your portfolio returns by as much as 5.1% over time, depending on your situation and how results are measured. But numbers aside, a good consultant offers more than investment tips. They help build strategies tailored to your goals, understand your risk tolerance and design a personalized plan to grow and preserve your assets.

Jump Ahead: What to Know Before Seeking Financial Guidance

• What Services Do They Provide? 
• When Does It Make Sense to Work with One?
• Are all Consultants Certified? 
• How Should I Prepare for a Meeting with a Consultant? 
• Do I have to be Wealthy to Work with a Financial Consultant? 

What Services Do They Provide? 

Financial consultants provide custom advice based on your goals, income and stage of life. Here are common areas where they can help: 

Retirement Planning 

• Estimating how much you need 
• Reviewing retirement accounts like 401(k)s, IRAs and pensions 
• Planning income and spending in retirement 

Investment Guidance 

• Analyzing your portfolio 
• Recommending mutual funds, annuities and other investments 

Estate Planning Support 

• Helping you draft wills and trusts 
• Managing inheritance plans and beneficiary designations 

Financial Wellness and Oversight 

• Budgeting and cash flow management 
• Spotting risky habits or scams 
• Offering emotional support during financial decisions 

A consultant becomes a long-term partner, helping you adjust your strategy as life changes. They can also serve as a safeguard. They provide an extra set of eyes on your finances. This is especially helpful during uncertain times or when the market is unstable. 

When Does it Make Sense to Work With One? 

There is no "perfect time" to start. A consultant can help whether you’re just starting or already have significant assets. Consider meeting with one if: 

• You're struggling to budget or save 
• You want to plan for retirement but feel overwhelmed 
• You received an inheritance and want to invest it wisely 
• You're unsure if your current investments are working 
• You want help managing debt, cash flow or taxes 
• You're approaching a major life event like getting married, buying a home, or starting a family 

A financial consultant typically has the education, experience and skills needed to help you with your finances. Plus, a financial consultant brings valuable objectivity to your financial decisions. Nobel Prize-winning psychologist Daniel Kahneman's research shows that emotions heavily influence our financial choices. This underscores how helpful it can be to get advice from a financial consultant. They can help you make smart choices based on logic and your long-term goals. 

Are All Consultants Certified? 

Not all consultants have the same qualifications. Some may use the title without formal credentials. Two respected credentials are: 

Certified Financial Planner (CFP) 

• Broad training in all aspects of personal finance 
• Widely recognized and consumer-focused 

Chartered Financial Consultant (ChFC) 

• Offers additional coursework, including specialties like business or divorce planning 
• Focuses on complex financial scenarios 

Both are excellent choices. Just make sure your consultant is qualified and registered through organizations like FINRA. Use their BrokerCheck service to verify their credentials. 

How Should I Prepare for a Meeting With a Consultant? 

Treat your first meeting like an interview. Ask about their background, services, philosophy and how they charge. To make the most of your session, bring the following: 

First Appointment Checklist

• Most recent tax return 
• List of what you own and owe 
• List of your estimated monthly expenses 
• Most recent pay stub 
• Information regarding any employee benefits 
• Insurance policies or statements 
• Wills or trusts 
• Estimate of Social Security benefits 
• Any questions you may have

Do I Have to Be Wealthy to Work With a Financial Consultant? 

No, financial consultants aren’t just for the wealthy. Many people with modest incomes benefit from working with one, especially if they want to improve budgeting, reduce debt or plan for retirement. 

Fees can vary. Some charge hourly, others a flat rate or a percentage of assets. Always ask upfront and shop around to find the right fit for your needs and budget. 

And the good news is if you work with a Landmark Investment Center financial consultant, your first consultation will be free. 

Start Your Financial Journey Today 

Whether you're getting started, making a big life decision or just want a second opinion on your finances, a financial consultant can help you move forward with confidence. 

At the Landmark Investment Center, we believe everyone deserves access to professional financial guidance. A financial consultant helps you navigate life's financial complexities with confidence, creating a roadmap that evolves with your changing needs and goals. They offer not just expertise, but also the confidence of having a qualified partner in your corner through market fluctuations and major life transitions. 

Get the confidence that comes with having a solid financial road map designed specifically for your needs. Find a Landmark Investment Center financial consultant near you and schedule a free consultation today.

Find a Financial Consultant

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

This material was prepared by LPL Marketing Solutions and Landmark Investment Center.

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