Chances are that you know someone who’s worked with a financial advisor. But what services do  these professionals provide that make them so invaluable to clients?

As it turns out, a lot! Financial advisors can help put you on the path to financial goals like retirement, saving for your child’s college tuition, or buying a house. In this post, we’ll cover seven of the key services that financial advisors provide and what makes them so helpful.

1. Assess Your Financial Situation

One of the first things a financial advisor will do with clients is to get a feel for their financial current situation. At the same time, they’ll also be on the lookout for any potential pitfalls. They might spot high-interest debt or investments that don’t match up with your level of risk tolerance.

2. Help You to Define Your Goals

While most people know they should be saving for retirement and building an emergency fund, few ever actually take the time to determine exactly how much they need or when they should have this done. A financial advisor can help you to realize what your goals and priorities are and how to adjust your financial habits to make them happen.

3. Provide Guidance

Whether your goal is to pay off the house, retire with security, or leave a large inheritance to your children, a financial advisor can help you to get to where you want to be. Using their experience and the latest industry knowledge, they’ll be able to make recommendations and help you build a plan.

4. Answer Your Questions

Perhaps you have some questions about the best ways to save money. Or maybe you’re already somewhat financially savvy and have more specific questions about alternative investments like futures or real estate.

No matter what your experience level is, a good financial advisor will answer your questions to the best of their abilities. They may even be able to provide you with additional resources so you can learn more.

5. Create Strategies and Roadmaps

There’s more than one path to financial independence, and financial advisors can help you figure out what works best for you. Whatever your level of risk tolerance, your advisor will know what works and what doesn’t. They’ll be able to build a plan that’s customized to your financial situation and preferences .

6. Mange Your Tax-Efficiency

A financial advisor  may recommend some strategies that will also help with tax efficiency.   For example, they might suggest you open up a 529 plan, an account that offers tax benefits when you use the money to pay for qualifying education expenses, to save for your child’s college tuition.

7. Listen to Your Concerns

When it comes to your money, it’s important to work with someone who listens as much as they talk. If you have questions about the market or doubts about the strategies they’ve recommended, you can always feel free to let them know. After all, it’s your money, and the main job of a financial advisor is to do what’s best for you.