Choosing An Advisor

Finding good articles on how to choose the right advisor, or how to decide if you need a financial advisor, can be challenging. You may be wondering how to pick a financial advisor for retirement, or perhaps it is for another type of life event.

Do your research thoroughly and don’t just rely on what we call “country club due diligence.” A financial advisor that seems to be doing a great job for a successful, wealthy colleague of yours may seem viable on the surface, but until you’ve done proper diligence you can never be sure. The best financial advisors are the ones who are well-suited to your specific needs, not just the ones who look best on paper.

Whatever the reason you are seeking financial advice, you should consider the following questions:

• What should I look for in a potential financial advisor?
• How much does a good financial advisor cost (including hidden fees and expenses)?
• What questions should I ask any financial advisor I am considering doing business with?
• How do I find a financial advisor who can meet my needs?
• Do I need a financial advisor, a financial planner, or an asset manager?

All of these questions, and many more, must be sorted through. Below are links to some of the better articles, with the “Pursuit of a Financial Advisor Field Guide” the most comprehensive.

When you are ready to start comparing advisors, we offer the Financial Advisor Comparison Matrix to organize the comparisons (including MCS data as sample answers).

The National Association of Personal Financial Advisors