If you are in your financial journey and wondering if a financial advisor may be beneficial for you, this post is for you. With the increasing complexity of managing money—student loans, investing, retirement planning as nurses—it’s easy to feel overwhelmed… and this may be where financial advisors come in. But do you actually need one? Let’s weigh in the pros and cons.”
First, of all What Does a Financial Advisor Do?
They help you:
- Create a financial plan.
- Manage investments.
- Plan for big goals like retirement or buying a home.
- Offer advice on taxes and insurance.
I would like to remind you that there are a lot of people using the term “financial advisors” loosely and you have to be careful who you trust when it comes to your finances. In general, you may come across 3 kinds and how they help you depends on what they do:
- Investments advisor (someone who will manage your investments and take a fee % based on the assets they manage)
- Broker dealer (someone who can give you access to investments/accounts)
- Insurance agents (someone who sells annuities/ life insurance)
Reasons You Might Need a Financial Advisor
1. You Don’t Have the Time or Interest to Learn About Finances
Let’s face it—working 12-hour shifts leaves little time for deep-diving into the world of investing and taxes. If you’d rather leave the heavy lifting to a professional, a financial advisor can save you time and stress. However, I AM AGAINST getting an advisor for this reason. (we’ll talk more about why in the next section)
2. You Have a Complex Financial Situation
If you’re juggling multiple income streams, managing a family, or planning a career switch, a financial advisor can help you make sense of it all. This is the reason why I ended up getting a financial advisor for me… when my finances started getting complex, i knew I needed a second opinion.
3. You Struggle with Financial Discipline
It’s one thing to know you need to save for retirement; it’s another thing to actually stick to the plan. Advisors can provide accountability.
Now, let’s move on to WHY YOU MAY NOT NEED ONE.
Reasons You Might Not Need a Financial Advisor
1. You’re Willing to DIY Your Finances
I did this. I realized that no one is going to save me and that the only person who GENUINELY cares about your financial being is no one else but YOU. Many nurses can manage their finances using tools like budgeting apps, robo-advisors, or even self-paced courses. You can attend one of my free classes to learn more about programs I offer to help nurses like you when it comes to money.
2. You Have Simple Financial Goals
If your goals are straightforward—paying off debt, building an emergency fund, and investing in a 401(k)—you might not need the help of a financial advisor.
3. You’re Comfortable with Technology
Robo-advisors like Betterment or Wealthfront offer low-cost, automated investment management. These tools are great for nurses who want to grow their money without paying high fees.
How to Decide If a Financial Advisor Is Worth It
If you are still on the fence? Ask yourself these questions:
- Am I willing to invest time in learning about personal finance?
- Do I feel confident making decisions about investing, taxes, and retirement?
- Can I afford the cost of a financial advisor without derailing my goals?
If you answered no to any of these, consulting a financial advisor—even just for a one-time session—could be worth it.”
Tips for Finding the Right Advisor
If you decide to work with one, make sure you:
- Choose a fiduciary—they’re legally obligated to act in your best interest.
- Look for fee-only advisors to avoid conflicts of interest.
- Interview a few candidates to find someone who understands your unique needs as a nurse.”
- I personally will only hire someone w/ certifications like CFP (Certified Financial Planner)
- Be careful w/ life insurance agents [there’s a reason I don’t associate my personal brand with these MLMs and people who prey on those who are not knowledgable and make them buy whole life insurance even though it doesn’t fit their current financial situation] – Here is a great article about this: Term Life Insurance vs Whole Life Insurance
A More Affordable Alternative: Financial Literacy Education
If hiring a financial advisor feels out of reach, there’s another path—empowering yourself with knowledge. I have tons of free resources in my blog, podcast and Youtube channel.
