5 Things to Look for Financial Advisors

1. Trustworthiness When determine the trustworthiness of a financial

advisor, one of the first things that you will want to consider is using a fee-only advisor.  Unlike fee-based advisors, these advisors charge only a flat fee for their services, versus a fee-based advisor that works on commissions.

To be the beacon for independent, objective financial advice for individuals and families.

To be the champion of financial services delivered in the public interest.

To be the standard bearer for the emerging profession of financial planning.

2. Strategies That Aren’t Too Complex Before signing on the dotted line with a new

financial advisor, be sure to ask about their strategies.  It's likely that you'll feel more comfortable with an advisor whose strategies are simple and easy to understand. 

It can be overwhelming to get advice from someone who discusses your goals and investment objectives with confusing charts, terminology, and presentations.  

You will also want to ensure your financial advisor is communicative and will keep you updated on a regular basis with easy-to-understand information.

3. A Personal Relationship The relationship between a financial advisor and a

client is very personal.  Be sure to confirm that you will never be working with an uninformed middleman.  

Your financial advisor has created your portfolio to specifically address your situation and goals, and should follow them on a daily basis. 

If your potential financial advisor is part of a larger firm, be sure that the advisors are unified in their approach and investment strategies.

 4. Experience & Professional Certifications Your financial advisor should have several

years of experience.  In addition, he/she should hold a CFP or CFA designation

A Certified Financial Planner (CFP) must complete 18-24 months of study and pass a rigorous ten-hour exam.  They are then required to work for three years as a financial planner or do a two-year apprenticeship with a CFP professional before earning the designation.  

 A Chartered Financial Analyst (CFA) has to pass three six-hour exams and have four years of qualifying work experience to earn the title. 

 5. References References from trusted sources can go a long way.

When you are seeking out a financial advisor, speak to friends and people that you know have similar goals for recommendations.   

Always consult your own legal, tax or investment advisor before making any investment/tax/estate/financial planning considerations or decisions. 

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