Five categories of individuals who may require financial advice in 2026

You want to look for an advisor who always has your best interests in mind. According to Ryan Haiss, a certified financial planner at Flynn Zito Capital Management, "a financial adviser adds structure and discipline, helping clients avoid costly mistakes, especially during volatile markets."

Eight financial specialists were asked if they needed an adviser and if they didn't.

For whom may a financial advisor be necessary?

Professionals with busy schedules

People who don't have the time to handle their own money can benefit from financial advisors. According to Gloria Garcia Cisneros, a certified financial planner at LourdMurray, "there are those whose best and highest use of time is spent doing what they are expert at."

In particular, Brad Lineberger, a certified financial planner at Seaside Wealth Management, advises individuals in their mid-career years to get assistance if they need to make sure they're optimising their employer's benefits package and saving enough for retirement. "[An adviser can help you] save to an after-tax broking account, work on a backdoor Roth strategy for high income earners, and maximise your 401(k)," says Lineberger.

Those that desire responsibility

Accountability is a key factor in achieving goals, according to Dr. Emily Koochel, manager of financial wellness at eMoney Advisor. By providing frequent meetings to discuss objectives, monitoring financial plan progress, gently reminding clients when chores are behind schedule, and, of course, acknowledging accomplishments along the way, advisers assist strengthen accountability, according to Koochel.

Furthermore, a lot of financial outcomes are influenced by behaviour and habits. According to Cisneros, "we also lack objectivity when we look at our own money, so that's invaluable." According to Rahkim Sabree, a financial therapist at R&A Consulting, advisers can help people who are tired of making financial decisions by offering structure, accountability, and clarity.

People with a lot of money

More investing alternatives are desired by many high earners. "My clients who have already maxed their IRA or 401(k) but have money left over each month are typically prepared to discuss more sophisticated financial strategies." According to financial coach Chris Fohlin of Fohlin Financial Coaching, "financial advisers can discuss things like taxable broking accounts, real estate, and other financial strategies that are often more complex but highly valuable when properly managed."

According to financial therapist Lindsay Bryan-Podvin of Mind Money Balance, "high earners with decision fatigue can benefit from working with a pro because the mistakes that can come from managing one's own finances at this level can become expensive." According to Haiss, "more assets mean more complexity [in terms of] portfolio construction, tax planning, concentrated stock positions, and coordination with attorneys and CPAs."

"High-income earners who grew up low-income may need help navigating boundaries, guilt, and sudden wealth shifts," concludes Sabree.

Anyone whose finances are complicated or fluctuate

According to Cisneros, having a professional on your side can provide piece of mind whether you have complex tax or estate planning difficulties or life events that have caused financial adjustments. Widows and recently single people, for instance, may have more complicated financial situations. According to Lineberger, "there are a lot of financial planning considerations to think about with death or divorce, like having a partner to make important decisions with, keeping tax bills low, and making decisions about Social Security."

Advisors can clearly outline a course of action for those who inherit money, but they also have crucial decisions to make. According to Lineberger, "[they can offer input on] what you should do with the money, how to keep the tax bill lower, how to invest successfully, and how to help others with your newfound wealth."

Additionally, "an advisor can assist in reducing the quantity of options you must choose from." "I've run this scenario many ways and based on your lifestyle and goals, here are two choices I recommend," Bryan-Podvin said of their customer. According to her, having an updated financial plan from a professional can be beneficial for major life transitions like marriage, divorce, empty nesting, or relocating ageing parents into the family home.

Couples with disparate financial histories

Infidelity and financial disputes are the two main reasons for divorce, depending on the year. According to Bryan-Podvin, "a third-party adviser can act as an impartial guide, helping both parties in a relationship find common ground and support in financial decision-making."

There are more financial stakes involved when you have people depending on you. Things like disaster-proofing and estate planning become more crucial. An advisor may map out things like college savings requirements, recommend suitable life insurance coverage amounts, and determine how long your existing funds might endure in the event of an emergency. According to Fohlin, couples frequently feel more at ease knowing that their significant other has someone to assist them with money matters in the event of an emergency.

A financial advisor is necessary for everyone.

Those just beginning out without substantial assets

You may start your personal finance adventure with books and financial coaching if you're just beginning to accumulate wealth. According to Cisneros, "build foundational knowledge and habits like creating a budget, building an emergency fund, and paying off credit cards."

According to Haiss, financial matters can be easier and don't need an advisor if there aren't significant assets. According to Haiss, "early savers without significant assets or tax issues can often stick with automated strategies."

Individuals who are just starting out and do not have emergency funds should likewise wait to consult an advisor. "In general, you need to keep your money invested for a long time in order to be successful at investing. You will ultimately have to withdraw money from your investment accounts early if an emergency arises and you don't have the funds built up to handle it. This could stifle your potential for growth or result in costs that could effectively force you to start over, according to Fohlin.

Someone having trust concerns

A hallmark of the advising engagement is having a transparent relationship with the person managing your portfolio and being able to trust them. “You might want to wait until you feel more comfortable trusting others. "You must have faith in your advisor, and it's possible that your account will be transferred to another adviser within the organisation, so [having faith in the process] is essential," Paiva explains.

According to Haiss, "an adviser won't add much value" if you're not going to change your plan or follow advice.

Someone collaborating with other experts

You most likely don't need a financial advisor if you or your family already has a team or representative who manages your finances, either inside or outside the family. According to Paiva, "some families have boards composed of family members, a legal team, etc. where a financial adviser is moot."

Those that take pleasure in managing their finances

According to Paiva, you may be able to handle your finances on your own if you already have a solid basis in financial literacy. Paying someone to manage your accounts may seem like a waste of money if you have the time, drive, motivation, and temperament necessary to handle your own finances.

Those who have uncomplicated finances

According to Bryan-Podvin, those who have simple, organised finances probably don't require an advisor. You may just require an annual check-in with a fee-only planner if you have a single salaried job with benefits and automatic savings and investments set up. Check your benefits because many jobs provide free access to an adviser, advises Bryan-Podvin.

Additionally, according to Bryan-Podvin, you probably need financial education and a support system that doesn't charge you 1% AUM if you're in the rebuilding phase and concentrating on financial building blocks like debt repayment.

Qualities of a Financial Advisor

Asking these crucial questions might help you better understand the kind of support, connection, and direction a financial advisor can provide. According to Sabree, "everyone should be cautious of salespeople who market themselves as advisers despite being commissioned product-pushers who are not held to a fiduciary standard."