Tips on Finding Your Financial Advisor

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March 8, 2019
Tips on Finding Your Financial Advisor

Image Copyright Ted Grussing Photography – Used with permission

If you are searching for someone to manage your finances, it can be overwhelming. After all there are so many designations and fancy managing strategies, it can be tough to know where to begin. Today we are going to discuss a few points touched on in an article on ‘The Balance’ that may help you if you are on a search for the best advisor for you.

  • Determine your Needs

Take some time to think about and write down what your needs are. Do you want to retire? Make a major purchase or get help with budgeting? Your needs will determine what kind of professional you need to look for.

  • Ask Around

Do you have any trusted friends or family that already use a financial advisor? What about a tax professional that you meet with? It never hurts to ask around. If an advisor is trustworthy and personable chances are word will get out about them!

  • Learn about the Designations

There are multiple designations out there, among them: CPA, CFP® and ChFC to name a few. Do your best to research all the different designations, what they mean and how they are earned. This can give you great insight into how qualified an advising professional is.

  • Determine how Advisors are Paid

There are a few different ways in which an advisor can earn their living. These can include: commissions, flat fees and fees based on assets. Determine which situation would be the best set up for yourself and your financial situation.

  • Put your Candidates in the Interview Chair

During your first meeting with an Advisor, don’t be afraid to ask them tough questions: including how long they have been in business and how they would be paid if you work with them. (We keep a list of such questions on our web site if you need ideas.) This is also a chance to get to know the advisor and determine if you feel comfortable working with them and if you think they are trustworthy and of good character.

Have a wonderful weekend!

Reference: Vohwinkle, J. (2016, October 16). How to Find the Financial Advisor That’s Right for You. Retrieved from