Everything to Consider When Choosing a Financial Consultant Near Me

Many American families do want to save for the future. In fact, 52% of families have some level of investment in the stock market. 

Whether they choose to save through a work plan like a 401k, saving for retirement, or college, more than half are putting away money for the future. 

Are they choosing their investment path on their own or working with a certified financial consultant? For many, they don’t feel knowledgeable enough to know how or even where to invest their money. 

Searching for a financial consultant near me might help get them a resource. 

If you’re looking for options for consultants to help you plan your financial future, what things should you consider? Read on to learn more about what to consider when selecting a certified financial consultant to help with your financial goals. 

Establish Your Own Goals

As you seek out the assistance of a financial professional, it will be helpful first if you have a handle on your own financial picture. 

Think through what are your goals for the future. Make sure you understand your current financial situation. 

Do you have a good handle on your finances so you can discuss comfortably what you can afford to invest?

The more you understand your own financial situation, the better you’ll be prepared to seek advice about a plan for the future. 

What Services Are Needed?

One thing you’ll want to discuss with your financial planner is what services are available and what you need from a financial professional.

Most financial planners offer to research investment products, create financial plans and provide help to implement the plan.  They often also offer services like tax planning, debt management, and retirement services. 

Qualifications and Experience

If you do a search, consider the references and reviews of the financial candidate. 

This is a person who will intimate knowledge of your financial life. You need to know they are both qualified and experienced before you hand them your money to invest. 

Ask about their background and if they can provide references. Do they have professional certifications?

How Is the Advisor Compensated?

One important thing to know is how your financial advisor is paid. Your goal is to invest and grow your own money. So, you want to have a good handle on what it will cost you to use the services of the financial professional. 

Financial advisors are typically paid three ways:

  • Commission-based consultant
  • Fee-only financial advisor
  • Fee-based payment model

Ask if their compensation comes directly from your investment or if it’s separate. Consider whether a commission or a flat fee will work best for you. The advisor should be comfortable talking you through these options.

Fiduciary Standards

Ask about the fiduciary standards held by the financial advisor. You want to work with someone who’s a fiduciary and will act only with your best interests in mind. 

A financial fiduciary is obligated to act and make decisions for you with your best interests, thinking beyond whether it would make them or their organization money.

Search for Financial Consultant Near Me

A search for a financial consultant near me will give you a list to consider. Then you need to really interview and research to know you’re working with a financial planner who’s a good fit for you.

If you’re looking for a financial planner whose goal is to meet your needs, we can help. Contact us today to set up a time when we can discuss your financial goals for the future. 

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