Why Do People Hire Their Financial Advisors?
Understanding the motivations behind working with a financial advisor
What are the benefits of working with a financial advisor?
The answer to this question is that clients hire financial advisors for numerous reasons. Specifically, clients seem to assess the value of an advisor not only based on their ability to offer financial guidance, but also for emotional support, such as assistance in making sound decisions and behavioral coaching for financial wellness.
Individuals also may hire advisors due to discomfort in handling financial matters, indicating the importance of advisors demonstrating their ability to offer both financial guidance, emotional assistance, and reaching financial goals. Thus, advisors should take a holistic approach in supporting their clients beyond just getting them to their next financial stage.
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