Five signs that's it's time to start working with a wealth manager, explained by Ana Fajardo

Whether you've recently experienced a change in your financial situation or ready to start investing for the first time, you may wonder whether you need to work with a wealth manager. Here, wealth manager Ana Fajardo shares five signs that it's time to work with a professional to help you manage your money.

Five signs that's it's time to start working

Reason #1: You want to invest, and you don't know where to start.

Investing is smart, and a wealth manager can help you learn more about your risk tolerance. According to Ana Fajardo, understanding your comfort level with risk will guide your investment decisions, and a wealth manager can help you choose investments that are the right fit for your comfort and financial situation.

Reason #2: You've recently experienced a significant life change.

Whether your child is starting college or you're getting ready to purchase a second home, significant life changes often mean big changes in your finances. According to Ana Fajardo, if you're going through a significant life change, it's wise to talk with a wealth manager. Remember, your wealth manager has experience helping people through life changes and will be there to answer all the financial questions you have along the way.

Reason #3: You're ready to retire.

Retirement can be complicated. Whether you've been contributing to a retirement account for years or have money saved up and you'd like to learn more about how to invest to enjoy your golden years, a wealth manager can help you through the retirement process, according to Ana Fajardo. There's no need to wait until your final year in the workplace to meet with a wealth manager to discuss your retirement.

Reason #4: Your financial life just got complicated.

Life is full of unexpected twists and turns, and if your life suddenly gets more complicated due to an unforeseen event, your finances will likely be affected. In the event of a divorce, an unexpected inheritance, or winning a cash prize, you may be unsure of how to manage your money. According to Ana Fajardo, wealth managers know how to handle complicated financial situations and can work with you to help you make intelligent financial decisions despite unexpected circumstances.

Reason #5: You want to ensure your loved ones are taken care of.

Estate planners and wealth managers can work together to ensure that your loved ones get the resources they need to thrive after you pass away. Your wealth manager can get to know your adult children as well. This means that when it comes time to discuss your estate, your children will already have an established relationship with a wealth manager they trust, according to Ana Fajardo.

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