One of the smartest things that you can do for yourself is to hire the right professionals to advise you in life. For example, when it comes to money matters, you want to get advice from people who are skilled in personal finance. However, did you know that there are different types of financial advisors? You want to make sure that you hire the one that best suits your needs. To get you started, here are 5 types of financial advisors that you should know about:

1. Certified Financial Planners

These types of financial advisors assist you in planning out all aspects of your finances. Therefore, if you need assistance with budgeting, saving, and planning for your financial future, then you might want to start here. After all, if you don’t get those basics down, then you’re going to have a hard time with more advanced financial activities. Getting the right professional to assist you with really laying that foundation can go a long way towards improving your financial world.

2. Investment Advisors

Maybe you feel like you already know what you want to know about financial planning. You have a strong budget, you’re paying down your mortgage, and you have a retirement plan. However, you want to make more money through investments. Obviously, investing offers a lot of options. Why not hire someone who is able to help guide you through those options? After all, if someone else has an in-depth understanding of how you can meet your investment goals, it’s only smart to take their advice. These types of financial advisors, therefore, are quite popular.

Note that within investment advising, you also have additional specific options. They include working with mutual fund representatives, and insurance agents. If you are very wealthy, then you might work with a wealth advisor. If you want a more affordable option for investment guidance then you might work with a roboadvisor.

3. Tax Advisor

Do you feel like you’re not quite getting the most out of your taxes? Or perhaps that you’re not getting the details right even though you file regularly? Then you might be interested in the types of financial advisors that help with that. Look for a planner or advisor who offers tax advice. This is particularly helpful if you’re an independent contractor or own your own business. In other words, if you have a more advanced tax situation than the average person, a professional can help you out. You may work with a tax advisor or a general accountant to meet these goals.

4. Financial Attorney

Sometimes you need someone specifically to advise you about the legal issues related to your finances. For example, look at this option when you’re doing estate planning, setting up a living trust or will, or otherwise making contract-based decisions for your future. These are the times when you want an attorney to advise you.

5. Money Psychologists

Many of us have underlying emotional challenges or psychological beliefs that negatively impact the way that we handle money. In particular, this can lead to money problems in our relationships. However, it can truly impact all aspects of our financial lives.

Therefore, you might find that the professional that you need is a therapist. There are therapists out there who specialize in assisting you in working through your money challenges. If you feel like you have the practical advice down, then you might need one of these more outside-the-box types of financial advisors.

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