May 15, 2022

4 Ways to Ensure You Find a Great Financial Advisor

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A great financial advisor can be the difference between a comfortable, worry-free retirement and a more stressful experience in your golden years.

So if you happen to be looking to take your retirement planning seriously after all these years or are looking for a fresh perspective and open to a change, doing your research to find a good fit is key.

Centers Health Care has a look at four ways to make sure you find the best financial advisor that’s available for your needs.

  1. Look for “Fee-Only” Advisors Rather Than “Fee-Based”

A “fee-only” advisor means that the only person they’re being paid by is you, in the form of a regularly scheduled (monthly or quarterly) fee. A “fee-based” advisor is also compensated based on the products that he or she sells, meaning that they may not have your best interests in mind when recommending a product for you.

  1. Find a Match for Your Needs

Someone with a Certified Financial Planner (CFP) designation is a good start, but you also want to dig deeper. Are you looking to maximize investments or have retirement accounts work for you? Find a financial advisor who specializes in what you are trying to achieve.

  1. Ask for Recommendations

Ask friends and family for any recommendations they have, but also check with other professionals like an accountant or a lawyer that may be in your network.

  1. Do Your Research

You can search for advisors on sites like www.napfa.org and www.plannersearch.org, and you can also check to make sure the analyst you’re considering doesn’t have a checkered past by looking him or her up on brokercheck.finra.org.

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