3 Reasons To Choose A Financial Advisor Instead Of Credit Counseling

7 June 2021
 Categories: , Blog


Do you struggle with debt? Professional financial counseling could help you protect your assets, reduce stress, and find a way forward. Many debtors in your position seek out a credit counselor to help them deal with debt, but you may be better off working with a financial advisor. Why? Here are three great reasons. 

1. They Will Cover Debt Topics

Credit counselors are useful for those in debt because they specialize in credit and debt usage. However, a good financial advisor can help with most of these same issues. This includes evaluating the types of debt you hold, forming a monthly budget, and creating a repayment plan. Because you can get similar basic services from both, you can look beyond these to other services that may be of use. 

2. They Look Beyond Credit

Credit counselors focus on one area of your financial life: your use of credit and debt. But a financial advisor goes well beyond this limited purview to offer recommendations on a wide variety of relevant financial topics. This may include retirement savings, emergency funds, meeting financial goals, saving for college, estate planning, and insurance needs.

This holistic approach can be more beneficial because it addresses other strengths and weaknesses in your finances. For instance, you may face medical debts from an unexpected illness. Your financial advisor will help you work to get better medical insurance coverage to avoid this problem in the future. 

3. They Can Be Lifetime Partners

When you meet with a credit counselor, you get targeted help with an end date in mind. But when you develop a relationship with a financial advisor while getting a handle on your debt, that can start a professional relationship for life.

The advisor already has much of the information they need to keep helping you look forward after your debt is gone. They will aid you in shifting from debt repayment to retirement planning, tax strategies, growing your investment portfolio, and building your career goals. And they can do so with the advantage of already knowing you, your concerns, and your interests. 

Could a financial advisor help you get out of debt now and build a better financial future? If you think so, start by meeting with an advisor in your area. With their expertise, you can conquer your debt problems and get on the road to future freedom. Contact a financial advisor for more information.