When you should find someone to trust you finances with…

Because you want to focus elsewhere

I own a car, but it doesn’t mean that I want to know how to change the oil. I own a house, but when my sink was clogged, I called a plumber rather than flushing chemicals down the sink. I am happy to call in the people who are trained in their fields because I know they can fix the issue quickly. The same is true of many Canadians. They would prefer focusing on the work they love and letting a financial planner help them with their finances.
Because the financial world confuses people
One of the biggest tragedies in the Ontario education system is that financial literacy any just now being added. This has left multiple generations of Ontarians with little or no understanding of how the financial world works. And because of the confusion that exists, many are unwilling to step into it. Instead, they look for someone who can help them understand it. That is why financial planners exist, to help demystify the financial world and help you succeed.
Because everything is continually changing
Politicians love to change the tax code. The amount of new annual contribution room for your TFSA has changed five times in the last ten years. New insurance and investment products are constantly being brought out for Canadians to consider. Keeping up to date with the changes is a full-time job. Luckily, a financial planner’s job is to keep up to date on the changes.
Because you want tailored advice
While it’s true that you can find a lot of planning information and advice online, the catch is that the information and advice you receive is not tailored to you. Most of the responses I’ve seen on Reddit are posted to be first, not posted to be thorough. An extended conversation needs to take place to get a plan tailored for you and your unique situation. If you are looking for that tailored plan, you need to talk to a financial planner.
Because they can offer you a 360-degree view
Proper financial planning will go through your investments, taxes, cash-flow, debt, insurance and goals with you. If you want to be debt free in retirement, they can show you how that will impact your retirement income. If you’re going to plan for a vacation every year, they can show you how that will impact the legacy you leave to your grandchildren and great-grandchildren. If you want to earn $500,000 a year, they can show you how much you will give away through income taxes and how to reduce that amount. Financial planners, proper financial planners, can help you see the entire picture, not just what your investments are doing.