We all have a “life team” composed of family, friends, mentors and family physicians – people we turn to for advice when we have a difficult decision to make or require health care. And yet, for many, when it comes to making important financial decisions, we try to do it on our own.

One reason people shy away from working with a financial professional such as an investment advisor or financial planner is the perceived cost. Indeed, there was a time not so long ago when only people with a lot of money could afford financial advice. Thankfully, that’s no longer the case. These days, individuals and families of all circumstances – including low-income earners – are turning to financial professionals to help them take charge of their future.

“There are many reasons why an experienced financial advisor can be a valuable addition to your life team,” said Michael Higgins, senior manager of investment communications at RBC Asset Investment Inc. “Advisors can help you make informed decisions about the big stuff –everything from buying a home, funding a child’s post-secondary education, protecting your wealth to investing for your future today.”

Sounds great, you may say, but what if you are in a situation where you feel like you can’t even service your monthly debts, let alone put money in a registered retirement savings plan (RRSP)?

Here again, a financial professional can help get you back on track and take control of your financial future. A certified financial professional (CFP) will guide you in the creation of a realistic plan, for example, to reduce debt and begin setting aside money for your child’s education.

In addition to helping you bring clarity to your financial goals, a financial advisor can help you avoid making costly investment mistakes such as saving for your retirement before eliminating debt.

Since an excellent financial advisor can make all the difference toward achieving your dreams, it is important to choose your partner wisely.

Here are a few tips to get you started:

Educate yourself. There are many different kinds of financial professionals to choose from. Two of the most common types are investment advisors and financial planners. Industry associations like the Canadian Association of Insurance and Financial Advisors (www.caifa.com) can help you learn more about the various types of advisors available to you to narrow down you search.

·Seek a referral. It’s always a good idea to go ask friends, family and existing partners on your team for a referral to a good financial professional.

Ask your banker. Banks aren’t just about deposit taking anymore. Banks today have in-branch financial planners and other qualified financial professionals, not to mention competitively priced investment products, to handle virtually any situation. Call or ask your local banking partner for help in directing you to the most appropriate financial advisor for your situation.

Most importantly, make sure you feel comfortable with the person you are working with. If there is no rapport, there isn’t likely to be a lot of trust either—defeating the whole point of having an expert financial advisor on your life team.