How to Choose a Financial Advisor

If you’re currently searching for financial assistance, you’re likely aware that there is a wide array of practitioners available to help you. However, not all financial professionals are the same—they possess different expertise, work in diverse ways, and are compensated differently. In today’s episode, we walk you through how to choose a financial advisor, and explore the factors that will help you choose a professional who aligns with your goals and priorities. By the end of this episode, you’ll have a clearer understanding of what to look for, enabling you to confidently navigate the search for financial help.

 

Show Notes

[00:58] Decoding the Financial Puzzle: Grant unravels the benefits of hiring a financial professional.

[04:33] Unlocking Financial Potential: Grant discusses the power of professional guidance and expertise.

[10:35] The Evolution of Financial Professionals: Grant describes how the role of a financial professional shifted from stockbrokers to fiduciary advisors over time.

[07:52] Choosing a Fiduciary: Grant stresses the importance of seeking out financial guidance that puts your interests first.

[17:03] Mechanism of Compensation: Grant discusses exploring Fee-Only vs. Fee-Based models, and shares some of their implications.

[24:42] Evaluating Skills and Experience: Grant outlines the qualifications and experience we should seek in a financial professional.

[31:13] Final Tip: Grant shares one final tip on the importance of understanding service models.

 

Resources

Mentioned in the episode:

CFP Professional: cfp.net/get-certified/certification-process

CFA Program: cfainstitute.org/en/programs/cfa

Investment Adviser Public Disclosure: adviserinfo.sec.gov/

Company Retirement Plans: abovethecanopy.us/the-ultimate-7-step-checklist-for-hiring-a-financial-advisor/