Selecting a Financial Advisor

Understanding The Differences

Selecting a financial advisor can be a difficult task. It can be hard to know whether an advisor is suited for your needs and your interests are their top priority. How can you tell whether an advisor is the right one to help you reach your goals?

A good place to start is by asking about the advisor’s background and his or her other clients. Has he or she worked with individuals like you? For example, if you’re a business owner, you may want an advisor who has experience with other business owners. If college planning is a big priority, you probably want an advisor with some experience in that area. Look for advisors who have experience with your goals and needs.

Also, make sure you fully understand the advisor’s approach and how he or she runs their practice. Does their investment management philosophy align with yours? How are they compensated, and how does that compensation impact your results? How often can you expect to meet with them and what kind of service should you expect?

These are all examples of questions that can help you gain a better understanding of what your relationship with the advisor will be like. You may want to meet with several different advisors so you can compare their services and make an informed choice.

Below are some resources, including JIC’s financial advisor blog, that can help you in the decision-making process. If you do your research and ask plenty of questions, you will improve your chances of finding the right advisor.