How to Choose a Financial or Tax Adviser

Money management is a critical component of both business and personal success—frankly, it’s one of the keys to a happy life. One of the strongest options available for proper personal wealth management is a financial or tax adviser. Finding the right financial adviser can both simplify your own workload in managing your money or your taxes, and also maximize the various returns you’ll receive. So that leads us to the first and perhaps most important question: Where to begin? What does a financial or tax adviser do, and how do you find the right one for you? Let’s go over some basics so you can get started on the path to financial peace of mind.

What Does a Financial Adviser Do?

A financial adviser is, at the core, a professional who helps you organize and plan your finances so you can achieve the goals you’ve set for yourself. These goals could range from retirement planning to investment growth to debt elimination; it all depends on your personal situation and your individual desires. In order to accomplish all of this, a financial adviser will gather detailed information about your financial situation and income and carefully analyze it. Based on that analysis, they’ll work out a plan that fits your current status and your goals and help you implement it into your financial life.

What Does a Tax Adviser Do?

Also knowing as an enrolled tax agent or certified public accountant (CPA), a tax adviser is an accounting professional with a specialty in tax law, and how to best help you minimize your tax burden. Tax law is complex stuff and changes regularly. In addition, your tax situation may be affected by major life events such as the purchase of a home, marriage, or the birth of a child. A good tax adviser can help you navigate this tricky financial territory and keep more of your money in your pocket.

How Do You Choose One?

Finding the right tax or financial adviser can be a bit of a process. Before starting, there are a number of things to consider that’ll help you find the right person for your needs.

  • Consider your goals. You have to begin with the end in mind, as they say, so a serious and frank assessment of your own goals is a great place to start. Are you looking to build wealth? Start a business? Plan your retirement? Or just ensure your taxes are being handled properly? You’ll need to assess what it is you want to do before you can select a qualified adviser.
  • Find an adviser with the right qualifications. This will vary depending on your goals; for a tax adviser you’ll likely want someone with an Enrolled Tax Agent or Certified Public Accountant credential. For a financial adviser, consider the individual’s training and education before making a decision.
  • Agree on a fee structure. Generally speaking, financial and tax advisers charge for their professional services. You’ll want to find an adviser who fits both your needs and your budget. Don’t be afraid to ask about their fee early on.
  • Look for a good working relationship. As with any professional, you’ll likely be the happiest with a financial or tax adviser who takes a personal interest in your success, takes the time to get to know you and your needs, and gives you the attention you deserve. Don’t be afraid to hold them to that standard; your financial well-being is worth it.

At OmniStar Financial, we strive to provide exactly that sort of quality, personal service and attention to each of our clients. Whatever your financial or tax needs, we’re here to listen and work with you every step of the way so you can achieve whatever goals make your life the most fulfilling. Get in touch today and let’s talk about what we can do for you.

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