Investment planning starts by outlining what you want to accomplish in your investment. In other words, investment goals provide you with the right road map or direction of how to go about the investment. In the financial plan formulation, you may either get a financial advisor or do it by yourself. Everyone can make financial decisions especially for small choices involving a small amount of money. Some situation one can decide to skip a professional advice. For instance, an investor may be interested in learning about their investment on their own. However, some situations which involve planning for a large amount of money may require approaching a financial adviser. Thus, it is important to know when to have a professional adviser or to take the next move of your investment by yourself. In most cases, investor consults financial professionals when they experience financial difficulties. According to Arthur (2013), it is more beneficial approaching an adviser. Especially at the early stages of your investment, the financial professional will help you in maintaining a good financial condition.
Additional, one may consult a financial planner for a workable plan if the business is having difficulties in achieving its goals. Therefore, if the decision is to hire a financial planner, it is essential to perform a research carefully and get a good planner. Regardless of the planners being the best option of knowing how to go about their pros and cons to the investment. Among the pros, advisers offer unlimited income potential to your investment. In this sense, their financial creativity is based on the possible structure in the industry. On the other hands, one of the cons is that they may leak some of your investment potential avenues to the competitors ( Arthur, 2013) .
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References
Keown, Arthur J (2013). Personal Finance: Turning Money Into Wealth . Pearson.
