How to Find the Right Financial Advisor For You

How to Find the Right Financial Advisor For You

| February 28, 2020

How to Find the Right Financial Advisor For You

When it comes to choosing a financial advisor, you want to pick carefully. A financial advisor can be key to helping you determine and achieve your financial goals and get ready for retirement. It’s worth devoting time and effort to finding a financial advisor you can trust and will want to work with for years to come.

What to Look for in a Financial Advisor

There are a few key elements to look for when deciding who to entrust with the management of your money. These include reviewing advisory certifications, fee structures (fee-based vs. commission), disclosures, investment strategies and more.

Another way to find a financial advisor who has your best interest is to ask if they abide by fiduciary duty. All SEC-registered investment advisors are fiduciaries, meaning they must always act in their clients’ best interests.

Financial Advisors and Advisory Certifications

As you start to weigh your options, you might notice that some advisors hold various certifications. The best-known financial advisor certification is CFP (Certified Financial Planner, which requires multiple courses and comprehensive exams. Candidates must have degrees and years of experience even to be eligible for the designation.

Finding an Advisor Who Meets Your Needs

Along with certifications and fees, it’s important to think about what you’re looking for in an advisor. While some advisors primarily focus on investing, many offer clients a suite of financial planning services, such as estate planning, tax planning, retirement planning and more. If you have a particular need, ensure an advisor will be able to meet it.

Finally, when deciding how to find a financial advisor that is the best fit for your needs – consider your investing style. Are you willing to take risks and grow your assets, or are you more interested in preserving your wealth for the next generation? Be sure to talk with an advisor about his or her investing style to ensure it aligns with your own.


EP 077: How to Choose a Financial Advisor

In this special episode, Nick HopwoodCFP® of Peak Wealth Management sits down with The Michael Spath Show in-studio at WTKA. Nick shares key factors people should look for when they are choosing a financial advisor.