Online brokerages love to share that you can retire XX% wealthier. They are right, partially. If you only want to store your money somewhere and have it grow, they are the cheapest option. If you don’t need any advice with your financial plan and you can stay invested while the markets are going through a full cycle – an online brokerage would be right for you.  

 

Because you don’t trust the system

A few financial planners have used unethical tactics (stolen from their clients), which has tarnished the profession. A few planners have promised the world to their prospects and have delivered none of it. Whether you had first-hand interaction with these advisors or just heard their stories, it can leave you feeling like you can’t trust financial planners in general. If you are in that group, working with a financial planner is not the right choice for you.

 

Because information is more accessible than ever

As recently as twenty years ago, people couldn’t find the information need to build their financial plan. Today, there is a wealth of information coming out as companies realize they should be marketing to individuals rather than only to advisors. Also, there are sites like Reddit where you can find people willing to share advice for free. If you are eager to search for the information you need, you might not need to work with a financial planner.

  

Because you have taken the time to educate yourself

Not everyone needs to bring their car to a garage when it needs an oil change. Not everyone needs to call a plumber when a pipe bursts under their sink. Not everyone needs to talk with a financial advisor. If you have taken the time to educate yourself on your financial plan, it might not be necessary to work with a financial planner. 

  

Because it’s fun to learn

If you find this topic interesting and want to research yourself, DO IT!! No one says you need to have an advisor. Instead, step out and take your future into your own hands.