Hiring the right team or individual to handle your finances could boost your savings and investment strategies. You can’t, however, hire the right financial professional without a clear understanding of what each professional in finance does. The good news is that a large portion of your finances can be done by you; you then have specialized professionals to handle the more complex aspects of your money.

Just don’t invest your cash into someone unfit to manage your finances.

The Type of Financial Professionals that You Need

The type of financial professional you need is based on the amount of money you own, how much in fees you can afford to pay, and how your money needs to be specifically handled. Start by learning about the following financial roles:

Accountants—Taxes are what accountants are known for working with, but though they can increase your yearly refunds and exemptions, accountants are also qualified to organize your spending and its limits.

Financial Planner—Your entire-financial portfolio, which consists of assets, income, and debt, is organized by a financial planner. You can also establish your long-term financial goals through a certified financial planner.

Investment Advisor—Buying stocks or bonds is best done with the help of someone certified to give investment advice. Be aware that investment advisors with legal credentials must work with your financial interest in mind.

Financial Lawyers—Getting married or divorced; establishing a right of attorney or being sued by the IRS calls for a lawyer who’s trained within finance. You can hire a lawyer to discuss your personal finances during a consultation session or by keeping such a financial lawyer on your payroll.

Life Insurer—An estate is often recognized as the financial assets you own that can be transferred to someone in the event of your death. Wills and “do-not-resuscitate orders” fall into the category of services that insurers offer.

Making the Right-Financial Decision

Be sure to interview any financial professional that you consider hiring.

Knowing which type of financial aid to hire is important but so is knowing how qualified an individual is versus another candidate. Keep in mind that most-financial professionals can be hired on an as-needed basis; you decide for how long they work and with what specific focus over your finances.