What Is a Financial Advisor?

A financial advisor is a professional who helps you make a plan for your money—things like budgeting, saving, investing, retirement, debt, and big life goals.

They look at your full picture (income, debts, goals, risk tolerance) and recommend strategies to help you get where you want to go.

How KOHO Everything Fits Into Your Plan

Even if you work with a financial advisor, you still need a solid everyday money account to put their advice into action.

That’s where KOHO Everything can play a role in your overall plan:

• Grow your savings with 3.5% interest, one of the highest rates in Canada

• Earn a 2% cash back rate on groceries, eating, drinking, and transportation and 0.5% cash back on everything else

• There are no foreign exchange fees, so you save on international purchases and travel

• Unlimited transactions and free e-transfers

• No minimum balance required, ever

What Financial Advisors Actually Help With

A financial advisor can help you:

• Set short- and long-term goals (buying a home, retirement, kids’ education)

• Build a budget and savings plan

• Decide how much to keep in cash vs. investments

• Choose appropriate investment products for your risk level

• Understand tax implications and how to be more efficient

• Create a retirement and estate plan

You don’t have to be “rich” to talk to an advisor—some focus on everyday people and basic planning.

Do You Always Need One?

Not everyone needs a financial advisor all the time.

You might:

• DIY with simple tools if your situation is straightforward

• Use an advisor for big decisions (first home, major inheritance, retirement)

• Check in occasionally instead of having an ongoing full service relationship