Choosing a wealth manager gets very personal. You’ll likely want someone who will make your hopes, dreams and wishes a top priority. So, how can you choose?
Here are five factors to consider when choosing an advisor:
- Your Expectations: Make an honest appraisal of your financial health, and be sure to include your assets, liabilities, income, insurance, taxes, investments and estate plan. What kind of service expectations do you have?*
- Your Ethics and Values: Do you sense that there is mutual trust, respect and dignity with the advisor?
- The Advisor’s Credentials: What is the advisor’s education? Does the advisor have licenses? Is the advisor a Certified Financial Planner or CFP®? Does the advisor have other certificates?
- The Advisor’s Experience: Is the advisor’s experience appropriate to your needs?
- The Advisor’s Compensation: How are the advisor’s fees set? By commissions through the sale of financial products and services? Or by fees strictly for financial planning and investment planning services?
The FPA**, or Financial Planning Association, has additional tools, resources and brochures.
In addition, FINRA, or Financial Industry Regulatory Authority, has information on protecting yourself, smart investing, understanding market data and FINRA BrokerCheck.
* Securities America and its representatives do not offer tax or legal advice. Please consult the appropriate professional regarding your particular situation
** This page contains links to third-party web sites and resources. These linked sites are provided solely as a convenience to users and not as an endorsement of the content or accuracy at each linked site.
