Working with a financial advisor can be a stressful decision. It requires sharing intimate financial details and implies a deep level of trust that takes time to build. A reasonable assumption would be that the advisor on the other side of the table is required to act in your best interest; however, that is not always the case. Here are some questions to ask before deciding to work with a financial advisor.
Get Your Finances In Order
Your financial situation plays a big role in whether or not you reach your goals in life. Our network of alumni has the guidance you need to manage your finances well.
Top Designations for Personal Finances Planning
- Chartered Financial Consultant® (ChFC®)
- Wealth Management Certified Professional® (WMCP®)
- Certified Financial Planner® (CFP®)
- Find a Financial Professional With Personal Finances Knowledge
Did you Know?
Americans spend 10% of their annual income on vacations, on average.
With over 20 years’ experience in the financial services industry and three advanced industry certifications (see below), I believe education and experience are important when considering a financial advisor. But, an additional critical factor to consider is the ability for you to have a normal conversation with your advisor without the use of industry jargon. You want someone who can communicate in a way you understand. I am that person!
Do you remember setting up your investment portfolio? Whether you did it yourself, consulted an advisor, or used your company’s 401(k) online planning tool, you had to answer some basic questions, including: what’s your risk tolerance? Do you remember your answer? Most of us invest for the long-term. We save to prepare for life’s big-ticket items, such as buying a home, starting a family, paying for college, and securing our retirement. While those priorities aren’t likely to change, our tolerance for risk probably will.