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At Just Start Investing we focus primarily on index investing.
However, we fully realize that this is not always something you can (or want) to do on your own. And, on top of that, robo-advisors are not right for everyone.
If you’ve exhausted those options, then hiring a financial advisor is an excellent way to prepare for the future and grow your personal savings. It’s 100% better than not saving or investing at all!
An investment professional is positioned to help you invest your money for potential future growth. If you are lost on where to get started, they can help you find your way.
However, any time you are trusting your money to someone else’s keeping, it’s natural to be concerned with finding the right candidate who you can trust. So it’s important that you are finding the best advisor for you.
If you’re ready to start investing your money, here’s what you need to know to find the best financial advisor for you.
This is a sponsored post on Financial Advisors.
1. Don’t Rush In
It can be tempting to think that every day you are not investing in your future is a day of wasted savings. And, you wouldn’t be wrong.
There is literal truth to that statement, but it doesn’t necessarily mean that rushing into the first option you find is the right choice.
A financial advisor will be with you for many years to come in an ideal situation. So, it is worth taking the time to make the best decision.
The small loss of delaying your savings growth by a week or two is significantly outweighed by the benefit of improved performance for years to come.
Yes, you should start investing as soon as possible, but not at the expense of long term success!
2. Explore Your Options
The key to finding a good fit for you is to check out many different options before committing to your chosen advisor.
In addition to looking online for options, consider asking friends and family for recommendations on who they use for their financial advice. While online reviews can be helpful in determining if an advisor is trustworthy, you can’t beat the direct recommendation of somebody you know and respect.
Take your time to build a list of potential options, and then move on to step 3…
3. Do Your Research
After developing your list of potential financial advisor candidates it’s time to begin whittling the list down in order to find your ultimate choice.
One of the most important things to consider is the reputation of a advisor you are considering working with. When you don’t have a personal recommendation from a friend or family member, you should instead look for reviews online from prior customers.
A google search of their name and company can potentially reveal news articles or blogs about the financial advisor to help you determine if they are reputable and worth giving your business to.
You can also find important information such as their fees, past returns, and how they are compensated.
4. Meet in Person
Online research and recommendations from others can only get you so far.
In order to get a true assessment of a financial advisor’s character, it is best to have a face-to-face interaction where you can look them in the eye as you discuss the possibility of working with them.
Many professionals will offer a free consultation where you can meet with the advisor and ask them any questions you have about their operation.
If you are a anti-texting brick-and-mortar bank type of person, then this step will for sure resonate with you.
5. Ask the Right Questions
Once you’re meeting with a candidate for your financial advisor needs you want to be sure you’re asking the right questions.
This means asking questions to determine if they are a good match for you.
In addition to asking about what services they provide and how much they charge, ask about their code of ethics. This includes their business practices and the types of ways your money will be invested.
You want to make sure that you are okay with their planned approach to growing your wealth.
It’s likely best to come prepared with a list of questions that you want answered. In addition, you can ask them what questions they normally get that you have not asked. This will help to point out anything you are potentially missing.
Conclusion: How to Find a Financial Advisor
Finding a reputable financial advisor to manage your investments can help make your financial life easier.
Just because the process of finding your advisor takes time and can feel intimidating is not a reason to put it off. So get started today! That way, tomorrow you’ll be on your way to a new level of financial security.