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To Advisor or Not to Advisor

Finding your financial path

Part 13 | Reading Time: 4 minutes
By Ian Bin
Imagine you’re navigating the labyrinth of personal finance, trying to make sense of investments, saving plans, and all the financial jargon that seems to be in a language of its own. You’re at a crossroads, wondering whether you should enlist the help of a financial advisor or go it alone. It’s a decision many of us face, and like most things in life, it’s not a one-size-fits-all situation. Let’s dive into this problem!

The Advisor Dilemma

Financial advisors can be helpful along your financial journey. They can bring expertise and experience and help make sense of complex financial matters. They can provide personalized advice tailored to your unique goals and circumstances and help you implement your financial plan. For all their good however, financial advisors aren’t always necessary, especially for those just starting their financial journey, as you may need more assets to make their fees worthwhile.
financial advisor in your pocket home screen
Most financial advisors charge based on how much money they manage for you. That fee can range from 0.25% to 1% per year.1 Some financial advisors charge a flat hourly or annual fee instead. Financial advisor’s costs depend on the fee structure they use with their clients. Advisors who charge flat fees can cost between $2,000 and $7,500 annually.1

The 3Nickels Simple Approach

So, what if you’re not so sure an advisor is for you, but you still want professional help in building your assets? That’s where 3Nickels comes into play. The beauty of 3Nickels lies in situations where you are comfortable doing it more yourself and have a simple enough position to where you wouldn’t need an advisor doing it. You may wonder, “How will I know if 3Nickels is right for my financial journey?”

Here are some examples of what 3Nickels provides to help you get a realistic feel whether 3Nickels is suitable for you.


Debt module
This module can help you take control of your debt. Gain insight into your total debt and form a plan to eliminate your debt your way.
Budget module
Through the module, look at your finances holistically and create a plan that helps you reach any goals you may have with regards to saving, spending, and giving.
Credit card module
This module can help you shop your credit card options and browse credit card gotchas so you can make an informed purchasing decision and easily manage your credit.
College module
With this module, you can get help and advice on efficiently saving for college.
House module
3Nickels can help lower the stress of buying or selling a house. Gain confidence with advice on whether you should rent or buy and on finding a home value within your means—plan for refinancing and paying off your mortgage.
Car module
You can find out the actual cost of a car and see comparisons of paying cash, financing, or leasing. Get advice on which ride you should choose for your needs and budget. Gain insight into auto insurance.
Investment module
You can learn basic investing terms and learn how to research options when opening your own brokerage accounts.
3Nickels Advice offers personalized investment and savings advice to help you achieve your financial goals. With all the tools mentioned, how will you pay off your college debt, buy a house, save for retirement, and keep up with all your current expenses? It’s overwhelming.
financial advisor in your pocket home screen
But that’s where 3Nickels thrives. You tell the app your accounts and financial goals, including what goals are most important to you. The 3Nickels app will run your information through our personalized intelligence advice engine to create a detailed plan, complete with investment advice–helping you put all your priorities in one place, giving you the support you need but relying on your initiative to execute the advice and other to-dos necessary to help you achieve your goals.
financial advisor in your pocket home screen

Areas a Bit Out of Reach

Filing taxes is a different experience for everyone and can be complicated, depending on your income sources. If you don’t need a tax advisor, software from H&R Block or TurboTax can be both helpful and efficient.
Transferring your estate can be a very complex endeavor that can’t be solved with a push of a button online. As you start the estate planning process, a knowledgeable financial advisor can help you create a comprehensive plan that ensures the distribution of your estate to selected individuals.2
Size of investable assets
It can be overwhelming to partially manage over $1 million in assets within a digital app.  While 3Nickels makes the most sense for someone who is just beginning to build wealth or has assets that amount to less than $1 million, if you’re overwhelmed, a financial advisor may still be the better way to go for you.

To Sum It Up

The decision to use a financial advisor ultimately comes down to what you are comfortable with, how complicated your financial situation is, and how much motivation you have to keep updating and working on your financial goals and priorities.
Depending on your unique financial situation and objectives, it can be helpful to explore alternatives like 3Nickels. If you’re starting out or still need substantial assets, 3Nickels can provide a cost-effective way to get on the right financial track. It comes down to how comfortable you are using a digital tool vs. hiring a pro.
financial advisor in your pocket home screen
Remember, there’s no one-size-fits-all answer here. Your financial journey is as unique as you are. The key is to find the path that suits your needs and helps you reach your financial goals.


1 O’Shea, Arie, and Andrea Coombes. “How Much Does a Financial Advisor Cost?”  NerdWallet, Accessed 21 Sept. 2023.
2 Tretina, Kat. “How Financial Advisors Can Help with Estate Planning.”  Forbes, Forbes Magazine, 22 Aug. 2023,

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