A financial advisor can provide unbiased, expert guidance on everything from savings goals to retirement planning. They can offer services such as debt management, investment advice and a review of your insurance coverage. They typically charge a fee for their work, which could be a commission on products they sell or an annual percentage of assets under their management (AUM). If you’re considering working with an advisor, consider exactly what kind of assistance you need and how much you can afford to spend.

Ideally, you want an advisor who’s skilled in both planning strategies and investments. They should be knowledgeable about the latest solutions and be willing to change their approach if your circumstances shift. They should be able to explain complex concepts in simple terms and listen carefully to your concerns. A good relationship with an advisor can make all the difference in your financial life, especially during times of market volatility.

Navigating Your Finances: How a Financial Advisor in Ottawa Can Help You Plan for the Future

Finding the right advisor can take time, but it’s worth it to get someone you’ll enjoy working with for decades. Ask friends and family for recommendations, or check out online resources such as NerdWallet’s AdvisorMatch to connect with certified professionals. You can also use tools on FINRA’s BrokerCheck website to look up an advisor’s employment record and verify their credentials. Choosing an advisor who acts as a fiduciary and puts your best interests first can help you avoid costly mistakes that can undermine even the most well-laid plans.