While most people need a good financial planner at some point in their lives, few know how to find an advisor they can trust. Maybe you’re looking to start saving for retirement or get advice on buying your first house. Whatever the reason, a financial advisor can help you get what you need from your finances at the least risk to you.

Choosing a Financial Advisor

If you want to choose a financial planner who’ll help you achieve your money goals, the first step is establishing those financial goals. Many financial advisors specialize in various areas of money management. You’ll want to pick an advisor with experience in the areas that are important to you.

Do your research to find a reputable financial planner. Then, come up with a couple of options, take the time to meet with candidates, and ask questions before you make a final decision about hiring one. Questions like these will help ensure your values align and that you’ve found the right advisor:

What are your investment credentials?
How long have you done this type of work?
What kind of clients are you looking for?
How often will I be able to communicate with you?
How will you be compensated for your services?
What is your investment philosophy?

Review Your Plan

Once you find the most qualified financial planner for your needs, together you’ll come up with a plan to achieve your financial goals. Ask questions throughout the process and understand your plan in full. Then, after you set your plan into motion, refer back to it frequently to ensure you’re on the right track.

You should also review how your financial advisor expects compensation. Generally, advisors receive payment in one of three ways—fee-only, fee-based, or commission-based. Each payment type has benefits and drawbacks, so determine which payment plan works best for you.

Check-In and Communicate Regularly

Even with the assistance of a professional financial advisor, it’s wise to personally stay on top of your money and remain informed about how your planner is handling it. A good financial planner will discuss the latest information regarding your finances, answer any questions you have, and make changes to your financial plan when necessary.

Beacon Hill Private Wealth

For all your financial advising needs, consider consulting Beacon Hill Private Wealth. We understand your need for financial services that evolve with your goals. Contact us today to learn more about our offerings.

Beacon Hill Private Wealth is an independent, fee-only fiduciary investment advisory firm. Founder Tom Geoghegan works with individuals and families nationwide and has shared insights with national outlets including Bloomberg, CNBC, and Barron’s. View selected media mentions.

For informational purposes only. The content does not purport to present a complete picture, but Beacon Hill believes the information is representative of issues and needs facing some clients. No client or prospective client should assume the above information serves as the receipt of, or substitute for, personalized individual advice.

This reflects the opinions of Beacon Hill or its representatives and presents information that may change. Nothing contained in this communication may be relied upon as a guarantee, promise, assurance, or representation as to the future. Investing involves risk, including, but not limited to, loss of principal. Beacon Hill's opinions may change over time due to market conditions and other factors. The appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives. RO-25-4934877