I often hear from potential clients – "When should I hire an advisor?" I will leave that topic for another article. Once I know I need an advisor, how do I choose an advisor? This is a large part of your financial plan. Here are some tips on helping you choose an advisor.
Advisors come in many forms – fee-only, fee-based, and commission. The first step is to discover which type of advisor you wish to retain. The second step is to ask people you trust if they have a referral. If you are not comfortable with this, you can go on LinkedIn and search and see how many people you know are LinkedIn with a certain advisor. You can also look at the advisor's biography on his or her website. The second step is to check http://www.finra.org/Investors/index.htm. This website offers a way for you, the client, to review if the advisor has any disciplinary actions against him or her. Next you should call the advisor and speak to him or her briefly on the phone and get to know them. Finally, meet with the advisor. I recommend meeting at their office so you can get to know the advisor better, and for the advisor to get to know you better. Preferably this is a complimentary meeting. Make sure you ask how the advisor is compensated.
At this point you should ask yourself: 1) Do I trust this advisor?;
2) If something happened to me and/or my spouse would I want this person on our team?;
3) Do they seem knowledgeable?; and
4) Do I feel comfortable with them?
If you are looking for an advisor take your time and find the right fit for you and your family.
Securities offered through Triad Advisors, Inc., Member FINRA/SIPC.
Laura K. Schilling, JD, CPA, CFP(r), CSA
Financial Innovations, LLC | www.financialinnovations.biz
5555 Glenridge Connector, Suite 200 | Atlanta, Georgia 30342
Laura Schilling isn’t your typical Financial Planner. She is also a world traveler who has been to Asia, Africa, Europe, and Israel. Laura is an active member in the community, a mother of two, and a champion for each of the working mothers she employs. As principal and founder of Financial Innovations, LLC, she staffs her firm with stay-at-home moms who work from where they can meet the needs of their clients around the globe.