THE RIGHT FINANCIAL ADVISOR: YOUR PARTNER FOR LIFE. . . AND BEYOND
Investing for retirement, managing taxes, insuring against loss, paying for college, planning your estate and the transfer of wealth to future generations… financial concerns have never been more complicated. Many people try, and fail, to master all of these things on their own. Others may believe that the cost of having a professional help is too prohibitive.
Financial success is a journey, not a destination. Choosing a financial advisor to help navigate your financial future should be based on credibility, capability, and compatibility. You are looking for a trusted partner. Here are a few tips to help you find the right match.
The starting point should always be validating the advisor’s and the firm’s credibility. For example, does this person have the right credentials? Do you know anyone who does business with the firm? Are references readily available? You can also use a tool like BrokerCheck and Investment Adviser Public Disclosure to find out more about the advisor or their firm. A little due diligence goes a long way.
Now that you are comfortable that the advisor is ethical and trustworthy, it is time to find out if the firm’s capabilities match your individual, family, and/or business needs. For example, if you are a business owner that needs advisory services beyond just financial planning, is that available? If there a life event that is the catalyst driving you to look for help, have they helped others in the same situation? This part of the discovery process is to help you feel comfortable that you are making the right choice.
Since your financial advisor is going to play such a prominent role in your life on a long-term basis it is incredibly important to ensure that the personality and communication style is a good fit. Finding an advisor that shares the same core values and life principles can help forge a partnership that is built to last.
WHAT’S TRULY IMPORTANT TO YOU AND YOUR FAMILY?
The most important component in reaching your long-term financial goals is to begin with an honest assessment of where you are today. This simple step will help you enable your advisor to create the most appropriate strategies, plan, and tactics for your financial success.
Taking a comprehensive approach to achieving all your financial dreams requires an effective wealth management strategy beyond just taking care of your investments. Consider addressing your advanced planning needs, including wealth protection, tax strategies, insurance planning, asset protection, charitable giving, and wealth transfer, just to name a few things.
Choosing a financial advisor might not be an easy task, but when you use the right formula to choose a financial advisor who becomes a trusted partner, the financial implications can last generations.