4 Ways to Ensure You Find a Great Financial Advisor
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.
- 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.
- 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.
- 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.
- 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.
