Bangalore: Siddharth hired a financial advisor last year. Prior to this appointment he had invested in two life insurance policies, a provident fund and SIPs in five mutual funds. With so many investments in his portfolio he thought he was financially secure. But Sidharth was faced with the harsh reality on meeting his financial advisor who helped him discovered how dolefully underinsured he was. Despite having so many investments, none of his savings would help him attain his financial goals. But this required him to monitor his financial health. Whether you are a millionaire or a common man we would have never received sufficient information about managing. For many people paying for a financial advisor is still a big no- no. Do you really need a financial advisor to help you manage your money depends entirely on your financial situation. Before you pay someone to tell you how to allocate your money, look at where it all goes. But if you want to make sure you get your money's worth, here's what you should know. When is The Time? When the individual finds it difficult to handle his assets, it then he knocks the door of the financial advisors. The individual fears that w wrong decision could put him in deep financial trouble. It could someone who has never spent or managed more than a few thousand dollars is looking at managing a group of accounts. Most often people look for professional advice just before they retire, because they feel that they need professional advice to make such long-term decisions.