H is for How to Choose the Best Advisor for You

H is for How to Choose the Best Advisor for You

When looking for help managing your finances, there are many options to consider. It can be difficult to narrow down what kind of advisor you need and want. And on top of that, finding a helpful advisor that you actually like is of the utmost importance! After all, you will be building a lifelong relationship with your advisor.

There are advisors with many different types of certifications. And there are many advisors that specialize in certain realms of financial planning.

Consider a few things as you search for the best advisor for you:

When choosing the best advisor for you and your needs, first consider why you need an advisor. What are your financial needs? Are you going through a divorce? Did you just inherit money or property? Or do you simply need help saving for retirement? Whatever the reason is, there is an advisor for you out there.

Don’t get confused by credentials. But do learn what they mean, here are a few to consider:

  • CFP – Certified Financial Planning is a board certified advisor with the most rigorous knowledge and training of taxes, investments, financial planning, etc.
  • CFA – Certified Financial Analyst is someone who analyzes the stock market.
  • CDFA – Certified Divorce Financial Analyst specializes in divorce planning.

Shop around and ask questions. Don’t be afraid to take meetings with multiple advisors. You wouldn’t buy the first house or car you look at so why would you go with the first advisor you see? Find someone who is helpful and that you feel like you can work with for a lifetime. And don’t be afraid to ask questions! If something is confusing or doesn’t sit right with you, speak up! It is more important to ask a question than to find out the hard way later.

Answers from A to Z

6 Comments

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