How to Choose a Financial Advisor

1. How to Choose a Financial Advisor

2. Ask Around • The first step in finding a good financial advisor is asking for referrals. Ask questions that will reveal factors that are important to you in a financial advisor, such as, "How was your first meeting?" "How easy was he to get on the phone?" or "Do you understand what he says?"

3. Go Online • Recommendations are a good start, but take time to do your own research. In fact, it's important to understand the specialty and niche area – like retirement, charitable giving, asset allocation or estate planning – of each advisor you research.

4. Participating • With participation, leaders can focus more on relationships and less on direction. In doing so, the Situational Leadership manager works closely with the team and shares decision-making responsibilities. • This style is often used by corporate leaders

5. Decipher the Initials • Financial planners generally come with many initials at the end of their names, and it's important to know what they represent. Many credentials are out there, so you need to understand what the credentials are.

6. Choose Between Fees and Commissions • Most, if not all, financial advisors fit into one of two categories: fee-only planners and those working on commissions. Fee-only planners are good to help develop a strategy for investment and help you understand what your goals are and how to get there.

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