Here are 8 tips to consider when looking for an advisor:
- Look for a firm whose investment and planning values resonate with you.
- It’s important to find a firm that you can trust with your financial-life plan. A fiduciary relationship with an advisor is the highest standard of care you can find in the industry.
- Ideally, a firm should be able to help you with: financial planning, investment management, retirement planning, college funding and estate planning to give you a comprehensive set of solutions.
- Find a firm that has a consistent and loyal client base and has the capacity to take on additional clients. There should always be a good balance between servicing existing clients and meeting the needs of new ones.
- It is our belief that firms that are fee-only provide more objective advice as their investment decisions are not driven by commissions or other incentives. Ask for their form ADV.
- Find out who will be working with you. If a high-touch relationship is important to you, look for a firm that provides personalized attention and a strong support team.
- Independent firms are often able to offer a wider selection of investment options since they are not tied to any proprietary investments.
- Ask for a sample client plan and a specific fee schedule. Full disclosure will help you feel confident in your ultimate decision.