How to Find & Choose a Financial Advisor That Is Appropriate For You


How to Find & Choose a Financial Advisor That Is Appropriate For You

This task of choosing a financial advisor isn’t always easy as it requires someone to make the right decision that would help you achieve your financial goals. It is very important to get financial advisor that will assist you in orchestrating standard strategy that would enhance your productivity whilst examine ideas that can move you on. Regardless of your scope and field of work, it is important for you to find financial advisor that aptly fits your needs.

The truth of the matter is that financial advisor is someone that will assist you to set and achieve your desired financial goals in such a way that will fit your needs and budget. Financial advisor will guide and advice people regardless of their personality or profile on how they can make appropriate choices and decisions.

How to Get a Financial Advisor That Is Appropriate for You

You need to put some conditions or factors into consideration before you can choose a financial advisor that is best for you. It is a process whereby you will establish a relationship with someone you truly trust. The task of choosing right financial advisor is for your sake because in a case whereby you choose a wrong financial advisor, it may affect your financial goals with misunderstanding of what you truly needs. It is on that note you need to be extra careful in choosing who will best address your desired financial targets. However, you can follow these tips and have more insight about how you can find the right financial advisor for your needs.

  1. Know your needs from Financial Planning Company: There are different ways that people get help from financial planning companies. It is expected of you to know the basis of getting a planning company. You can choose to hire a financial planner that will help you watch after your accounts and provide you with feedbacks or results in case anything case anything changes. This can be done on monthly basis and in fact you can choose to let it be quarterly or even yearly. It is based on your wish. Financial planners are always important most especially in a case whereby your money condition changes drastically. Meanwhile, you should always make sure that any financial advisor you work with must be someone that carefully have knowledge about your particular situation for example if you are just married, look for a planner that specializes in marriage cases. He or she will be able to bring out some blind spots that general planner could miss. It may also interest you that if you are able to get an advisor that is very close to your age, you will have a better relationship because they will understand your particular concerns in a more personal way. This shows that before you choose any financial advisor, you must be able to identify your particular need whereby you will have to firstly identify, prioritize and document your financial targets.
  2. Know the Financial Advisor Business Model: Financial advisors are being paid in three different ways which include commission-based, fee-based and fee only. The commission-based advisors are those that receive a certain amount of money (in form of compensation) from any purchase made when a client through their recommendation make a purchase. It is however advisable that people move away from commission based advisors and rather goes for fee-only advisors because that is the best model that is effective. The reason is that fee-based advisors also get paid directly from the client and they can also get a commission anytime a client makes purchase through their recommendation. In fee-only based case, you will only pay the advisor on a fixed rate which could be paid per hour and it is usually as a percentage of assets under management (AUM) which depends on their business model.
  3. Go for financial planners that are certified: So many people may claim to be financial planner and end up prescribing products that doesn’t work for your situation which will surely have negative effect on your financial plans. The best way you can go about this is to get financial planners that are certified and experienced. It shows that there have passed an assessment exam with different topics which might range from insurance policy to taxes and many more. Certified financial planners would make sure their recommendations are best suitable for the client and it isn’t about how much they make but rather productivity.
  4. Look into their qualifications: It is important you get to know the educational qualification of the financial advisor you want to make use of. Also, before someone can be accepted to provide and assist in financial advice and targets, they must possess federal or state licenses or other related credentials. When discussing with advisors, be sure they possess licenses, authentic credentials and if possible referrals.
  5. Choose the most appropriate advisor for your budget and financial situation: It is very important that you are sensitive while choosing a financial advisor that will help you achieves your goals. They ought to improve your financial condition and not blow it up whereby it is important you know the type you want to go for. In a case it is your decision to start with basic investment management, then you can go for a robo-advisor and in a situation whereby you possess more money or a more complex financial life, you will check out for online advisor or probably traditional advisor.

It is time to get an advisor:

Kindly be reminded that there are two typical kinds of advisors you can consider which are robo-advisors and human advisors.

Robo advisors: People that are just starting up with investment can firstly go for robo advisor and it is very effective. Robo advisors are usually known as financial companies that make use of tried-and-tested algorithms to offer financial advice based on a user’s particular financial condition. They usually cost less and have very little or no minimum deposit requirement. Robo advisors will get you more advice on where you should invest with the relevant information you need to have. It is even possible for you to set up a retirement fund with a robo advisor and they will help you manage buying the funds. They can even help you with suggestions on how much you can save and keep for your retirement in line with your income and other expenses. In a situation whereby you can’t afford a traditional financial planner and interested in picking investments or probably thinking of how to save for retirement, you can go for robo advisor. Some robo advisors you can check out include Bloom, Betterment and Wealthfront.

Human Advisors: It is very easy to get human advisors but another issue is to find a competent financial advisor that can help you achieve your desired financial goal. However, here are some networks that can help you get financial advisors that meet your needs. They include XY Planning Network, National Association of Personal Financial Advisors and The Garrett Planning Network.


It is very easy to get financial planner but you should be sensitive about it. Make sure you don’t go for advisor that is too busy, condescending or not even too serious about your needs. You should rather go for competent, ethical and experienced advisor who will take your financial interest as a task to achieve. Make a better decision that would enhance your future career.