When choosing a financial advisor, you can choose whoever you want, but if you want a collaborative relationship where you stay involved, then you need to choose carefully. There are many financial advisors available, but only a few that will be the best choice for you.
There are a few steps you will want to take to ensure you make the right choice. You’ll be happier in the end that you took the time to figure out your best match in an advisor.
Think About Your Needs
In your hunt for a financial advisor, you always have to think about his or her experience and how that matches with your needs. For example, Don Gayhardt is a professional in the financial industry who has years of experience working in various industries and in a variety of positions. One area in which he has a lot of knowledge is acquisitions, so if you need a financial advisor to help with your business decisions in addition to your personal finances, then he might be a good choice.
You want to be sure that you do a personal inventory of what you need help with. What types of accounts will you have your advisor handle? Do you need advice on a specific type of investment? Getting these answers will help you narrow down your needs so that you can find an advisor that can help you with them.
Do Your Research
When you know what you need, you can start looking. U.S. News and World Report suggests first asking your friends or people you trust for some referrals. You can then start doing some research into the names you get.
Do a Google search to see what comes up. Ideally, the advisor will have a professional website or web page that explains his or her background and specialties. You may also find information on review type websites that will give you insight into the experiences other people have had with the specific advisor.
Always verify any credentials that you find for an advisor. Make sure they are legitimate. Anyone can claim to have a degree from Harvard, but unless you check it out, you won’t know if this is the truth. A person can say they worked for a certain company, but if you do not verify employment, it could be a lie. Safeguard yourself by checking the person is actually who he or she claims to be.
Making Your Final Choice
In the end, you should choose the financial advisor you feel most comfortable with. You want to be able to talk with this person easily while also trusting him or her with your finances.
The bottom line is that you are giving your advisor access to personal details so you must be able to trust he or she will handle the information professionally. If you do your homework properly, you should be able to find someone who will do a good job for you and become a trusted partner in managing your finances.