How to Find a Great Financial Advisor

Financial advisors are a valuable resource in managing your assets and planning your future, but how do you know how to choose the right one? First, understand the type of financial advisor you need. Then look for valid credentials, core competencies and if you can, a background check. 

Get your financial goals on track - speak with one of our Financial Planners

Schedule a complimentary meeting or phone call today.

What should I look for in a financial advisor?

What type of financial advisor do you need? One would hope you wouldn’t ask a financial planner specializing in retirement to look over your business plan. But if you are an individual looking to retire, make sure that your financial planner looks over your overall financial situation, not just your investments. 

Check to see if the financial plan is fee-only. Brokers paid on commissions are usually more concerned on making commission from a customer. Fee-only financial planners have a set fee which establishes a relationship with their client that lasts the lifetime of their financial plan.  

The next thing to look for is a fiduciary. A real fiduciary’s website should have a clearly accessible form called an ADV; (CTRL+F to search on their homepage), but how do you know they’re working in your best interest? Although it’s tempting to check third party websites, the best way to find or check a fiduciary is through the SEC website. There you can check disclosures, years of experience and licenses each financial advisor has in your state and in other states, if a move is in your future. 

4 Things You Can Do Right Now to Improve Your Financial Wellbeing
How to choose a financial advisor

Fee-Based vs Commission Based

  • Fee-Based financial advisors are for individuals who have accumulated substantial assets. These advisors tend to offer a wide range of services, portfolio management and financial planning.  
  • Commission based financial advisors make a commission on the financial products sold to clients.  
How to choose a financial advisor

Brokers vs Advisors

  • A Broker is licensed by the Financial Industry Regulatory Authority (FINRA) to sell products for a fee. 
  • Registered Investment Advisors (RIAs) offer a more comprehensive set of services, which can include financial planning and asset management. Advisors take a look at a client’s whole financial picture to determine the best strategy for their investments.  
How to choose a financial advisor
Insight Wealth Strategies’ website and affiliated companies may include links to third-party websites. These links allow you to exit Insight Wealth Strategies’ website and enter third-party websites; they are provided only as a convenience. Linked websites are not reviewed, controlled, examined, sponsored, or endorsed by Insight Wealth Strategies. Insight Wealth Strategies assumes no liability for any inaccuracies, errors, or omissions in or from any data or other information provided on such pages. Insight Wealth Strategies does not review content, advertisements, activities, or any other information posted on sites linked by third parties. Any opinions or statements posted by third parties are their own and may not be representative of the experience of others or indicative of future performance or success. Neither Insight Wealth Strategies nor any of its Investment Advisor Representatives are responsible for the information, advertising, products, resources, links provided or other material, of any linked site. The inclusion of any link does not imply Insight Wealth Strategies’ sponsorship or endorsement of the linked site. In no event shall Insight Wealth Strategies be liable, directly, or indirectly, to anyone for any damage or loss arising from or occasioned by the creation, use or reliance, on third-party websites or the information, advertising, products, resources, or material accessed through such websites. Insight Wealth Strategies reserves the exclusive right and sole discretion to add, decline or remove, without warning, any icon or link to a list or website, from the service and its website.