In the same way that some people may disdain and avoid doctors yet somehow are always in great health, there are those who would not give the time of day to financial advice or an advisor. But somehow they manage to plan, save, and have deep insight; and prepare well for their future. Blanket statements that everyone needs a financial advisor can be true in general but may not give proper credit to those who really don’t value such personal guidance.

It is probably true that even those who are independently above-average in this area could very well benefit from advice about what they may admit they do not know. But that audience is really not the focus for financial advisors’ attention. For the rest of us, it is more likely that we really don’t know what we don't know, and there may be some who really struggle with understanding how complex financial mathematics works.

Getting advice will always be a personal choice. The benefit may only be clear after time has passed and results are measured. There is also the potential benefit of loss 

avoidance, which should not be overlooked. Sometimes, just knowing how not to make certain mistakes can have a powerful long-term financial (and lifestyle) impact.

So why get advice? The short answer is you should get financial advice if you care about your gains and losses, which might be maximized or minimized, respectively, as outcomes of following solid principles.

You may know that many advisors do not cost you an out-of-pocket fee because they are paid by the companies to which they introduce you. This is common. Also common is that others may charge you by the hour, or flat fees for services, or still others by a percentage fee on your total managed assets.

No matter what advisor(s) you have, the most important consideration will be accounting for potential benefits compared with likely costs over a defined time period. If you discover that you could not achieve an equal or better outcome by your own methods, then you should consider and speak with a qualified and trustworthy advisor.

Knowing how an advisor/adviser is paid can be synonymous with knowing in what area of financial services they work.

An adviser may be an employee of a company, such as a brokerage, insurance company, or agency. An adviser could also be independently employed or in a hybrid employment arrangement.

Advisers may, therefore, be paid a salary as an employee or paid by commissions on sales/ 

commission-only, or both, or by common methods such as fee-only/ fee-for-service or assets under management (AUM). It is entirely proper for you to ask.

Advisers’ choices of employment are often simply by preference, by compensation, by specific product types, or they may be consequential to the type(s) of license(s) they hold and compliance with various regulatory requirements for servicing clients.

Financial advisors/advisers of any stripe have many characteristics in common, such as knowledge of the behavior of money in various scenarios, understanding the importance of financial protection, and the ability to explain the effects of time on various financial products and strategies.

Advisers’ assorted areas of focus and expertise are related to how they become qualified and licensed, in what segment of financial services they are occupied, and by what specific

areas of regulation they are governed.

Different areas of adviser specialty can include securities investment, life and other relevant insurance, real estate, commodities, nonprofit financial management, business continuity, estate preservation, alternative investments (correlated or non-correlated to the common financial markets), and personal financial management (including budgeting and saving).

Among the most important advantages a professional financial advisor/adviser can offer are education, and, importantly, access to useful financial tools, products, and information.

Licensing requirements (state, federal, and industry) compel trustworthy and competent advisers to pursue and master a depth of understanding related to the financial services industry, including regulations, concepts, practices, techniques, products, and client service.

Ideally, a client is able to accommodate a trusted adviser’s leading them based upon sound principles. Clients’ unique circumstances require an adviser to craft personally tailored solutions for a variety of client needs and objectives.

An important goal in the transactional relationship with an adviser is that there is active monitoring and management of investments for positive financial outcomes, leading to client peace of mind.