Select Page

A financial advisor is someone who helps people not only manage their money, but also to reach their financial goals, give budgeting guidance, and even plan their estate. There are so many financial advisors to choose from, so it can be an overwhelming task for some. However, it’s important to keep in mind that the type of financial advisor you choose will depend heavily on your financial situation and your needs, among other things. 

  1. Learn About the Different Types of Financial Advisors 

As mentioned before, there are many different types of financial advisors. These include robo-advisors, online financial advisors, and traditional financial advisors. Each of these advisors offers different things and choosing the right one all depends on the intricacy of your finances. 

  1. Decide on the Services You Want 

It’s helpful to know what you want to get out of your financial advisor before you start looking for one. If your financial situation is a bit complicated or involves something such as planning your estate, you may be better off with a traditional financial advisor who can meet with you face to face and talk you through the process in person. 

You also always have the option to start out using a robo-advisor before moving on to either an online or traditional advisor. 

  1. Do a Background Check 

Before hiring anyone to do anything, it’s always important to do a background check on them to make sure they have a good record. You can easily check the record of the advisor you are considering by looking them up using the firm’s Form ADV. This form can also inform you on what the advisor charges for their services, whether they have any past disciplinary actions, and more. 

  1. Consider Fees 

Finally, you will want to think about the fees that an advisor will charge you and whether or not they fit into your budget. Robo-advisors tend to be the least expensive, and traditional financial advisors are the most costly.