Finding the Right Financial Advisor for You
Finding the right financial advisor can be a challenging task. You need someone who can help you explore, identify and achieve your unique goals and objectives. Ultimately, it is important to have a trusted relationship with whatever advisor(s) you choose.
TAKE THESE FACTORS INTO CONSIDERATION
when searching for an advisor
Understand what you can expect
Make sure you understand an advisor(s) process. If you work with a team, ask what each team member’s responsibilities are. A good process should define your goals, set expectations for future service, and cover the full disclosure of costs you will incur.
In order for a financial plan to work well, it needs to be comprehensive. Look for a team that takes enough time to understand all of the details of your financial life. While you don’t want all of your eggs in one basket, you can have all of your chickens on the same farm.
Look for advisors with strong professional credentials that require ongoing continuing education. Advanced professional credentials show a commitment to ongoing learning, best practices and ethical standards.
Not every firm is equipped to handle every financial need. As your wealth grows, your needs may become more complex. The more complex your goals, the greater the need for your advisor(s) and their firm to have advanced capabilities.
Ask your advisor(s) to explain their capacity. Are they busy serving thousands of households, or do they focus on a smaller group of exclusive clients?
Is a team approach right for you?
Having more experts’ eyes on your financial plan and portfolio can be impactful. Additionally, having a diverse team can be more relatable and inclusive for a family financial plan.
A team of financial professionals ensures continuity. If an advisor is unavailable or retires, your team still has the blueprint to continue your plan. You will continue to work with people you already know and trust.
