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Unless you come into millions of dollars, you don’t need one
Rising Star
That’s a good way to put it
They generally just tell you where to invest and save your money and help you figure out how to get the most out of different retirement accounts, etc. I think they can be pretty expensive sometimes, so I don't really think it's worth it to hire one unless you have a lot of assets (esp properties) and investments and you need to make sure you're getting the most out of everything. I also wouldn't just look someone up online but try to get a referral from a friend or family member because a lot of financial advisors are full of BS
Bowl Leader
Financial advisors tell you what to invest in and what products (life insurance, annuities, etc.) to buy. I started working with one when I inherited some money because I thought they would help me budget. We sat on a nonprofit board together, and I thought we were friends. For the first year, he helped me budget and clear some debts while deciding what to invest in. After I invested the money, I stopped hearing from him. I'm not going to lie, that hurt. I thought that he was actually looking out for me, but I was just a customer.
I suggest interviewing financial advisors and asking how they manage their clients. If you’re looking to invest, then get one. They make money from the commission on the products you buy, like a real estate agent making money from the house you buy. But be weary because they need to sell the biggest product to get the biggest commission. So, do your own research.
If you’re looking for someone to help you budget and get out of debt, ask them if they can recommend someone who does that. Those people usually charge by the hour, or you can sign up for a first-time homebuyers class, as they help with budgeting and debt management full-time.
If you have specific financial goals (or want to figure out what they are/could look like) and would like help developing a plan that works for you, I think it makes sense to meet with a financial advisor. I don’t think it’s just for people with millions of dollars in income/assets. I agree that it’s good to get a personal referral, if possible.