Maybe you’re put off by the fees. Maybe you’re convinced you can do it all yourself. Whatever the reason, there’s a chance you’ve asked yourself the question: ‘Do I really need a financial adviser?’ The simple answer is yes, you almost certainly do.

Of course, as any adviser or investor will tell you, there really are no simple answers in the world of financial planning. So here is a closer look at why you may be tempted to go it alone, and why – in almost all cases – it makes sense to call in an expert.

The first thing to note is that it’s not impossible to invest on your own. There’s not much stopping you from planning your own portfolio, making your own investments, and waiting for the returns to come rolling in. The trouble with not using a financial adviser, however, is that you stand to miss out on so much value.

An accredited financial adviser is an expert in the field. They have a clear knowledge of investments, and they remain up-to-date on the latest regulations and legislation. They have an expertise in financial solutions like unit trusts, retirement annuities etc. What’s more, an accredited, independent financial planner has objectivity… which is exactly what you need when you’re figuring out your financial future. Every individual’s situation is unique, and an accredited financial adviser will have the skills and training to help you determine the best course for you, and for your circumstances. They will often be able to give you advice on matters like tax, drawing up of wills, trusts and insurance.

Your financial adviser will also help you make sense of your future commitments, and help you turn them into achievable financial goals. Your big-ticket purchases, your children’s education, your retirement… all of those financial goals will form part of your overall financial plan, and will determine how you should structure your investment portfolio.

There’s a real wealth of financial products out there, and choosing the right options for you can be a very difficult task. After all, different products will suit different investment objectives. A good financial adviser would have researched all those options, taking the time to determine which choices are most appropriate for your goals and your unique circumstances.

A good financial adviser won’t only provide you with sound financial and investment advice; they will also look at your overall portfolio, assess your overall financial health, and look to help you take proactive control of your money, either by moving it into a better investment option, or by freeing up extra cash for you to invest elsewhere. In that way, over the long run, your financial adviser should more than make up the fee you’re paying for their services. (Just make sure you avoid a few common and costly mistakes when you do make your choice.)

Ultimately, you should choose to hire a financial adviser for the same reasons you’d hire any other professional – whether it’s a plumber to fix your leaky tap, a mechanic to fix your car, or a doctor to take care of your physical health. Sure, you could try to do the job yourself. But ultimately, it’s always best to have a qualified, objective professional doing the work.

If you have any questions about how to choose a financial adviser, speak to our Client Services Team on 0860 105 775 or email us at query@prudential.co.za.