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How To Locate the Ideal Financial Advisor For Your Future Needs

29 October 2019  

Are you thinking about investing? Here are some great tips for finding a financial advisor. 

Do you consider yourself well-versed in financial matters? Do you understand the stock market’s ups and downs? Wait! There are parts of the investment world you may not be familiar with or have yet grasped. That is why there are financial advisors, and why so many people rely so heavily on the expertise and advice of those advisors. Choosing a knowledgeable advisor may not be difficult, but finding one that you know has a trustworthy reputation may be trickier in a time when the whims and fancies of even one client can send an advisor’s reputation crashing. How can you be sure to locate the ideal financial advisor for your future needs? Here are six helpful tips.

1. Persona

When you are interviewing financial advisors, you will run across one or two that have recognizable confidence that emanates from them. It is more than whether you like or dislike the person, or whether they are charming, charismatic, or persuasive. Ask yourself during the interview, do you feel they have competency and security?

2. Reputation

Find out about the advisor’s reputation before you attend the interview but be careful not to believe everything you read from disgruntled clients. It is important to ask yourself, ” What do others say about the investor?” but it is equally important to understand why those individuals wrote what they wrote. A strong referral from a family member or friend can go a long way in helping find a trusted advisor, as can the fact they have many years of expertise in the field.

3. Strategy

Look for an advisor that has a clear view of how to get you where you want to go – not where they want to be. Your financial future may be in his or her hands, but it is your money, and you should be able to obtain information on your investment at any point. Also, your advisor should be willing to work with you if your life circumstances suddenly change and your finances take a turn.

4. Teamwork

Choosing a single advisor that works out of an office on his or her own may not be the best option in a fluctuating financial market because a team often has more information that can help your advisor make financial decisions with your money based on clearer market pictures. A team can also ensure you have financial support when your advisor is out of town or out of the office for any reason.  

5. Meetings

During your interview, ask your advisor how often he or she expects to meet with you during the year. A good advisor will want to have a face to face meeting with you regularly every year. Without these meetings, you would be unable to voice your concerns and ask a question about the direction your investments are taking. You want to make sure your advisor understands you don’t intend to have a relationship that consists of phone calls and statements in the mail.

6. Goals

Your advisor should know your goals and tailor a program to fit those objectives. Rather than trying to talk you into moving in a direction that will make him or her a bigger commission, a good advisor will find the best investment that fits your needs. Find out if your financial advisor has a range of services and products or a restricted company list – it makes a difference.

Your financial advisor works for you; thus, you should be in charge of your program. He or she should feel free to advise you on your investments, but the ultimate decision should always be yours. That is what makes a trustworthy and reputable financial advisor.



Lynne LaMaster

Lynne LaMaster is the Founder of the eNewsAZ Network of websites. She will be leaving for new adventures on May 15, 2020.