Finding a Financial Advisor

Finding a Financial Advisor

A Guide to Hiring a Financial Advisor

We’re all used to hiring experts to give their insights and advice on topics for which we’re not qualified, whether that’s a doctor, an accountant, or even a handyman. However, when it comes to the financial health of you and your family, too many people try to wing it, inaccurately gathering the necessary knowledge on complex financial issues.

So, when you look to plan your financial future, don’t overlook the benefits that come from hiring a financial advisor. Once you have a trusted professional working for you, you’ll know the decisions you’re making are the right ones. The first important task, and perhaps a daunting one, is finding that right financial advisor for you. If you’ve decided it’s time to take the plunge and hire a personal financial advisor, consider some of the following tips:

Know Your Situation as Best as Possible

You need to present them with all the information they need. Make sure you take stock of your current situation: income, investments, debts, budgets, and more. Further, a financial advisor can help you accomplish your goals via careful financial planning, but they cannot tell you your goals. So, when you seek out the aid of a financial adviser, be sure you’ve thought about your goals, whether that’s retirement at a certain age, property ownership, ability to start a business, or anything else.

Shop Around to Find the Right Fit

When you go to different potential advisors, you’ll quickly find that they all have their own unique perspective, skills, outlooks, experience, and history. One advisor may not be objectively better at financial management than the other, so you’ll have to weigh these characteristics individually. Specifically, you should shop around and meet with different potential financial advisors until you find the one that fits. That may not be the first, second, or even third you meet, but proper financial planning is so important that it’s worth shopping around.

Make Sure Your Partner or Other Family Members are on the Same Page

The right financial adviser won’t just be the one that works for you, but really the one that works for your entire family. Money can often be a strain on relationships, but financial planning can help relieve those stresses. Keeping the needs of your partner and your family in mind is essential since these financial management tools and outcomes will affect them as well.

Never Feel Locked In

After hiring a financial advisor that works for you, down the road, you may find that they’re no longer the right fit for you. Perhaps your situation changed, your goals have adjusted, or they haven’t delivered the results that you had hoped. Whatever the reason, remember to always do what’s best for you and your family. Never feel guilty about that.

If you want to evaluate whether you are on the right path, a financial advisor might be right for you. At Tobin & Collins, we are entrusted with ensuring you are on the right track. Get in touch with us today to learn more.

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