Many people mistakenly believe that financial advisors are only for the wealthy. However, financial coach and advisor Margaret Njeri emphasizes that financial advisory services can benefit women from all walks of life. A financial advisor guides individuals on money matters, helps build a healthy money mindset, and assists in making sound financial decisions.

Women should prioritize financial check-ins to enhance their financial well-being. A financial advisor can help women save more effectively, avoid investment scams, manage debt, and prevent costly financial mistakes. When choosing a financial advisor, it is essential to identify your individual financial needs. Determine whether you require assistance with debt management, investment management, or both. Verify the qualifications of potential advisors; those specializing in insurance should be licensed by the Insurance Regulatory Authority, while investment management advisors should be registered with the Capital Markets Authority. Review their track record to ensure they have experience helping clients with similar goals. Ask about the services they offer and how they charge. A reliable financial advisor should provide regular updates on your financial status and maintain discretion.

Engaging with a financial advisor should be an ongoing journey to achieve your financial goals. Even when you become wealthy, advice on risk management and identifying market trends remains valuable. Women often face challenges such as a lack of financial advisory services and minimal financial knowledge. Some women believe financial literacy is only for men or need guidance on investment options. Common misconceptions include the belief that financial advisors are exclusively for the wealthy or that online financial advice is sufficient. Consultations with financial advisors can be affordable, sometimes costing as little as Sh3,000.

People with diverse career paths can benefit from a financial advisor in various ways. They can receive personalized financial plans, diversify their businesses, learn how to separate expenses, create emergency funds, and identify suitable SACCOs to grow their wealth. Financial security begins with protecting, managing, and growing existing assets. Start by creating and adhering to a budget, then diversify your investments.