No two financial advisors are exactly the same.
As you begin your search for a financial advisor, you’ll quickly find out you have a lot of options. We recommend that you keep these characteristics in mind through your vetting and research process.
Advisory firms differ in how they calculate their fees. Among other advisory fees may be flat rates or a percent on a sliding scale based on the market value of your assets under management.
Among other advisory fees may be flat rates or a percent on a sliding scale based on the market value of your assets under management.
Some fee-based firms can take commissions on the products they sell—in addition to charging advisory fees to their clients. While many others don’t. Understand and ask the right questions. How is your advisor getting paid and does that create a conflict of interest? Is that interest disclosed? Is the fee a wrap fee that bundles advice, commissions on products and trade costs?
Before selecting your personal financial advisor, do your due diligence and understand exactly how much it’s going to cost you. Advisors should be transparent about all conflicts of interest and fees.
The markets constantly shift, tax laws change, and currencies fluctuate.
Some advisors’ services are limited to only managed portfolios. However, depending on your unique circumstances, that may be not enough.
Based on your needs, you may want to look for an advisor who can give you advice on allocating your assets based on your finances such as insurance, Social Security, taxes, your mortgage, and your estate.
Our team goes beyond the markets and investments to look for financial planning alpha. See for yourself:
Securing your financial future is more than just picking stocks and bonds.
Depending on your needs, you may want to look for advisors who have passed the CFP® Certification Examination. This test assesses an advisor’s ability to apply a broad base of financial planning knowledge to each client’s specific circumstances.
Financial advisors who have achieved this level of certification are held to high ethical standards.
Keep in mind that credentials don’t always guarantee better service or better outcomes, but can be an indication of the advisor and their firm’s level of service. In the absence of certifications, you may want to ask advisors about their years of experience with people in your situation.
Once an advisor has checked your boxes for what services they offer, it’s time for you look at how they treat you.
Entrusting a firm with your assets, is a major decision—one you shouldn’t make lightly. Generally, advisors understand and are empathetic to this reality. Finding an advisor who you can trust may help to ease the difficulty in making that decision.
At EP Wealth, our financial advisors understand that successful relationships are highly collaborative and that by working together, it’s easier for both parties’ visions to be aligned. We genuinely want to get to know you personally, understand your objectives, and work with you to create a long-term plan that helps you build the future you want.
Ready to continue your journey to a healthier financial future?
Contact an advisor today to learn how we can help.
The EP Wealth Advisors financial planning process starts with the relationship between you and your financial advisor. How do you value a financial coach? Developing a partnership that ensures we understand your goals lets us help you prioritize and organize your financial decisions—so you can achieve peace of mind and live your life.
Wealth management tips and news for all people