7 Tips for Choosing a Financial Advisor

– by Curtis H. Parry Jr. CFP®, CHFC®, CLU®, RICP®, WMCP®, CASL®
Founder & CEO

The decision to partner with a wealth manager is an important one. After all, you worked hard to build your wealth. You need someone who will help you manage, maintain and grow your assets. But what should you look for when selecting someone to manage your money? Here are the top considerations when looking for a financial advisor:

1. Credentials and Experience

Certifications: Look for advisors with reputable certifications such as a CERTIFIED FINANCIAL PLANNER™ (CFP®)

Experience: Choose an advisor with substantial experience working with High Net-Worth Individuals. They should understand the complexities of managing significant wealth.

2. Services Offered

Comprehensive Planning: Ensure the advisor offers comprehensive services, including tax planning, estate planning, retirement planning, risk management, and investment management.

Specializations: If you have specific needs, such as philanthropic interests or business succession planning, find an advisor with expertise in those areas.

3. Fiduciary Duty

Fiduciary Standard: Look for advisors who operate under a fiduciary duty, meaning they are legally obligated to act in your best interest at all times.

4. Communication and Accessibility

Regular Updates: Ask if the advisor provides regular updates and is proactive in communicating changes or opportunities.

Accessibility: The advisor should be accessible and responsive to your queries and concerns.

5. Investment Philosophy

Alignment: Discuss the advisor’s investment philosophy and make sure it aligns with your risk tolerance, time horizon, and financial goals.

Approach: Understand their approach to asset allocation, diversification, and risk management.

6. Technology and Resources

Tools: Check if the advisor uses advanced financial planning tools and technology to provide detailed analysis and reporting.

Research: The advisor should have access to robust research and resources to make informed investment decisions.

7. Personal Fit

Comfort Level: Choose an advisor you feel comfortable with and trust, as you will be sharing sensitive financial information and working closely together.

By considering these factors, you can find a financial advisor who will help you manage your wealth effectively in order to achieve your financial goals. Interested in hearing more? Let’s connect.