Summary
You do not necessarily need a financial advisor to manage a retirement account, but some individuals choose to work with one depending on their comfort level with investing, the complexity of their finances, and how much time they want to spend managing their accounts. Some people manage their own retirement savings, while others prefer professional input when making long-term financial decisions.
Managing retirement savings can look different for each person. Some individuals prefer a hands-on approach, while others look for outside guidance when navigating investment choices and long-term planning.
When People Choose to Work With a Financial Advisor
Some individuals work with a financial advisor when retirement planning feels complex or time-consuming.
A financial advisor may help review retirement accounts, explain investment options, and discuss how different savings vehicles work together. According to Investopedia’s article “What What Does a Financial Advisor Do?”, advisors often provide services such as investment management, retirement planning discussions, and portfolio reviews.¹
People may also look for outside input when major life changes affect their finances. Events such as changing jobs, preparing for retirement, or coordinating multiple accounts may prompt someone to seek professional guidance.
Some situations where people may consider working with an advisor include:
- Managing multiple retirement accounts, such as IRAs and employer-sponsored plans
- Planning for income withdrawals during retirement
- Navigating tax considerations related to retirement savings
- Reviewing long-term investment allocations
- Seeking a second perspective on financial decisions
Managing Your Own Retirement Account
Many individuals manage their own retirement accounts using online tools and investment platforms.
Technology has made self-directed investing more accessible through brokerage platforms, retirement calculators, and educational resources. A guide from CNBC notes that some investors choose a do-it-yourself approach if they feel comfortable researching investments and monitoring their portfolios.²
Even when managing accounts independently, individuals may still review account performance, rebalance investments periodically, and evaluate how retirement income might work later in life. Some people also combine self-management with occasional professional consultations.
The comparison below outlines general differences between self-managing retirement accounts and working with an advisor:
| Approach | What It May Involve | Considerations |
| Self-managing investments | Selecting investments and monitoring accounts personally | Requires time and research |
| Working with a financial advisor | Receiving input on investments and retirement planning as well as taxes, healthcare, and legacy planning | May involve advisory fees |
| Hybrid approach | Managing accounts personally but consulting an advisor occasionally | Allows flexibility depending on needs |
If you would like to explore how retirement accounts, investment decisions, and income planning may fit into your long-term financial picture, contact Vantage Point to start a conversation about your options and how planning strategies can help you live retirement boldly and on your terms.
FAQ
1. What does a financial advisor do?
A financial advisor may discuss retirement planning, investment allocations, and other financial topics depending on the services they offer.1
2. Can I manage a retirement account on my own?
Many people manage accounts such as IRAs or workplace retirement plans independently through online investment platforms.
3. How do financial advisors typically get paid?
Advisors may charge flat fees, hourly fees, or a percentage of assets under management depending on their business structure.1
4. What types of retirement accounts might an advisor review?
Advisors may review accounts such as 401(k) plans, traditional IRAs, Roth IRAs, and other investment accounts.1
5. Is working with an advisor required to open a retirement account?
No. Many retirement accounts can be opened directly through financial institutions or brokerage firms without an advisor.1
Citations
- What Do Financial Advisors Do?, Investopedia, Accessed March 9, 2026, https://www.investopedia.com/articles/personal-finance/050815/what-do-financial-advisers-do.asp
- Jim Cramer’s guide to investing: Do the homework, CNBC, Accessed March 9, 2026, https://www.cnbc.com/2023/09/20/how-to-decide-if-you-need-a-financial-advisor.html
Investment advisory services are offered through Vantage Point Financial, a registered investment adviser. Registration with any regulatory body does not imply any particular level of skill. This material is provided for informational purposes only and should not be construed as investment, tax, or legal advice. Working with a financial planner does not ensure financial success or prevent loss. All investments involve risk, including the possible loss of principal. Past performance does not guarantee future results. The scenarios presented are hypothetical and are intended for illustrative purposes only. They do not reflect actual client results and are not guarantees of future outcomes. Individual results will vary. Certain financial strategies may offer tax advantages, but outcomes depend on individual circumstances and are subject to change due to tax laws and other external factors. Vantage Point Financial does not provide legal or tax advice. Consult a tax professional. Retirement outcomes depend on a variety of factors, including individual savings behavior, market performance, health events, and other considerations. Certain statements herein may reflect the firm’s current views, expectations, or beliefs, which are subject to change without notice. For additional information about our services, fees, and disclosures, please refer to our Form ADV Part 2A, available at https://vantagepoint-financial.com or upon request at no cost.
