Always Speak to a Specialist for Financial Planning Advice

When you talk to someone about financial planning for your future, you’ll almost always be told that you should seek the advice of an impartial financial advisor. Of course, this is a brilliant idea; they’re always talented people who can answer your questions on a wide range of topics relating to you and your finances, but in some cases, you may be better off contacting someone who specialises in your situation. Here are a few examples of the types of people you can avoid.Charles R. Green & Associates, Inc. is an excellent resource for this.

Mortgage experts vs. the bank’s financial advisor

To begin with, your home will undoubtedly be one of the largest investments of your life, so it’s wise to ensure that your mortgage is the best fit for you. Although an independent financial advisor can certainly help, it’s usually a better idea to consult with a specialist mortgage broker who can point out the best offers that are currently available. Never go directly to your bank’s mortgage adviser; they’ll only be able to sell you a small number of options, many of which are simply uncompetitive.

Tax is another area that can be very difficult, so seeking the guidance of a professional in that field can be extremely beneficial. Consultation with a professional tax accountant will help you navigate the complexities of income tax, especially if you work for yourself. Look at the Institute of Charted Accountants to find someone in your area who will gladly assist you.

The best candidate for the role

With a growing number of people being in debt as a result of the current economic downturn, many of them seek support from a financial advisor. However, these aren’t necessarily the right people to talk to; you’d be much better off setting up an appointment with one of the many debt counselling programmes available today. What’s more, a lot of them offer their advice for free, which means you’ll be less depressed in the short term as well.