Financial advisors aren’t only for the very wealthy. People in all sorts of financial situations can benefit from professional financial planning services.
Whether you need to come up with a saving plan for retirement, manage your debt, diversify your portfolio or make your paycheck last longer, a financial advisor can help you set clear financial goals and map out how best to meet them.
Read on to find out how to find a financial advisor, from identifying your financial advice needs to choosing the right type of financial advisor for your situation.
6 steps to Finding the Right Financial Advisor
- Identify why you need financial advice
- Find the best financial advisor for you
- Know how financial professionals get paid
- Determine whether you need a fiduciary financial advisor
- Search for the financial planning you need
- Meet potential financial advisors or brokers
Step 1: Identify why you need financial advice
Finding the right kind of financial advisor is easier after you determine why you need one. Are you early in your career and want to know how much — and how — to save for your financial goals? Are you paying for your child’s education, or navigating finances during a divorce? There’s likely an advisor for your specific situation.
You may need more than one kind of financial plan, and that’s OK. Just make sure the financial professionals you’re considering have the skills, knowledge and experience to help you with your specific financial needs.
Here’s a list of issues financial advisors may help you with:
|Financial advisor services||How a financial advisor can help|
|Retirement planning||A financial advisor can ensure you’re maximizing retirement-specific tools like your 401(k) or Roth IRA so you can maintain your lifestyle after you|