Lower fees: Virtual advisors often charge lower fees than their traditional counterparts, especially if they don’t have to rent office space that increases their own costs.

If one of your goals is to retire sooner rather than later, a virtual advisor can help in a few key ways. I’m a Financial Planning Expert: 9 Things You Should Never Buy If You Want To Retire Early Next, you’ll tell the advisor about your financial goals and objectives, and the advisor will then analyze your financial situation to come up with a plan to achieve those goals. You’ll typically begin by submitting information about your finances, according to SmartAsset. Getting started with a virtual financial advisor isn’t that different from doing so with any other kind of advisor.

The idea is to give you more flexibility on when and where you can discuss your finances and not be tied down to meeting at a certain place and time.Īs SmartAsset noted, virtual financial advisors offer a variety of services, including the following:Īmong the top players in the virtual financial advisor space are platforms such as Wealthfront, Vanguard Personal Advisor Services and Personal Capital. This might take place through video calls, live chat, email or over the phone. Virtual advisors provide the same types of services as traditional financial advisors, except all communication is done electronically rather than face-to-face. See: Can Millennials Afford To Retire If They Never Own a Home?įind: 3 Ways To Recession-Proof Your Retirement

Virtual financial advisors might be the right solution, but you’ll want to do your research before going this route. There’s a long list of things you need to consider, ranging from when and where you want to retire to how much money you’ll need to pay the bills and fund your lifestyle. Everyone can use financial advice - especially when you’re planning for retirement.

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