When it comes to money and investing it is not easy to know who you can trust. How do you know if the investment recommendations you are receiving are really in your best interest, or if they are the result of a commission structure at the brokerage firm?

For many investors, the only solution to this dilemma is a DIY approach, one that means they handle every investment decision on their own. Those investors know that the person in the mirror will always put their interests first, and they have always avoided hiring a financial advisor.

If that sounds like you, there are plenty of good things about the approach you have taken. Avoiding conflicts of interest and outright scams is most assuredly in your best interest, but you might want to consider some other factors as well. Even if you love to go your own way, here are four good reasons to add a financial advisor to your team of monetary professionals.

1. You Can Optimize Returns with Strategic Rebalancing
The key mantra of the investing world is to buy low and sell high, but only a small percentage of investors are able to put that practice into place. Rebalancing assets is complicated, expensive, and difficult to pull off, especially if you are handling everything on your own.

By working with a financial advisor you can take advantage of strategic rebalancing, automatically selling assets that have done spectacularly well and loading up on those that have lagged. Over time this strategy could earn you far more than what you pay the advisor, helping you maximize your earnings and allowing you to make the most of every dollar you invest.

2. Your Spouse May Not Share Your Love of Personal Finance
Even if you love to handle your own financial matters and do your own investing, your spouse may not share your love of all things monetary. If you have been taking the reins financially, how do you know your less financially attuned spouse will be able to pick up where you left off?

If something were to happen to you, are you confident your spouse would be able to handle the family finances and continue the investing strategy you have established? If the answer is no, it may be time to establish a relationship with a financial advisor, someone who can meet with both of you and guide your decisions as a team.

3. A Good Advisor Could Help You Lower Your Taxes
When it comes to saving and investing, it is not how much you earn that really matters - it is how much of that money you actually get to keep. Taxes on investments are incredibly complicated, and knowing how to minimize the IRS cut could be worth far more than what you would pay to hire a financial advisor.

A good financial advisor can help you determine the best tax strategy for your situation, so you can keep more of what you earn and maximize the compounding on your current nest egg. Whether you are still working, happily retired, or somewhere in between, the expertise a financial advisor provides could be extremely valuable.

4. The Transition from Saving to Spending Can Be Tricky
Even if you are a dedicated do-it-yourselfer where your investments are concerned, you might want to bring a professional on board when you are ready to retire. The transition from saving and investing to spending can get tricky, and you only get one chance to get it right.

Having a second set of eyes review your DIY plan can be valuable, especially if you have made some incorrect assumptions along the way. At the very least this external review can provide reassurance that you are on the right track and that you will be able to turn the nest egg you have assembled into a steady and predictable stream of post-retirement income.

There are plenty of good reasons to handle your own finances and do your own investing. No one, no matter how skilled or educated, is as dedicated to your success as you are, and when you run your own show you will not have to worry about scams and conflicts of interest.

All of those are good reasons to take the DIY approach to saving and investing, but that does not mean a professional cannot help out along the way. If you can find a financial advisor who respects your desire for independence, you can enjoy the best of both worlds, and that could help you maximize your earnings over time. When you’re ready to make that call, the Andover Bank Financial Consultant is here to answer all your questions.