10 Tips for Finding Best Financial Advisor


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The first step you take towards finding the best financial advisor is to make inquiries. Getting references from people that understand what a financial advisor is can help you find the best professional.

Perhaps you are looking for someone to manage your financial activities. You are occupied with so many schedules that hardly give you time to supervise your monetary routine. You certainly need the best financial advisor, someone you can trust and rely on.


Who is the best financial advisor?

The best financial advisor is a professional in financial matters, who gives quality advice to clients on investment, insurance, and overall monetary affairs. They also help clients manage their financial affairs and attain financial goals

When you are trying to hire a financial advisor, anybody can pose to be one and you cannot identify any of them by their looks. Again, you do not want to hire the wrong advisor who may only look out for self-interest, for this can be misleading. Look no further as this article provides you with the following:

Finding the best financial advisor.

1. Make inquiries

Finding the best financial advisor starts with making inquiries. You can ask your neighbor or work colleague to recommend one for you.

On recommending one, ask the referee questions such as how long have you known the advisor and who the advisor worked for. If other questions cross your mind, also ask.

You can ask two or more people to recommend you the best financial advisor then you can select the one you feel is the best.

2. Seek evidence

The fact that you have asked the referee some questions about a particular advisor does not mean you cannot repeat them. You still need to ask the advisor over again during the confrontation.

Find out where he or she works, years of practice, and his clients. Confirm his organization, personal profile, and credibility. You can also go ahead and inquire from those clients he had worked for the level of the advisor competent.

3. Check for professional background

Sometimes relying on credentials may not be the sign that an advisor meets the required criteria. On the other hand, considering some facts it becomes necessary to check their professional background. How did the advisor become a financial advisor?

This is because the best financial advisor must not only possess a certificate but must also have practical experience with several clients.

Therefore, in this case, a certificate may serve as a barge or firsthand evidence. Nevertheless, a certificate in a chartered financial analyst CFA or CPF (Certified financial planner) is required of the advisor.

This certification is also proof that the financial advisor has taken the required courses and passed a series of examinations. Thus, which leads to the award of the certificate?

4. Find out how experienced the advisor is

When you start making inquiries from people about the best financial advisor and you are presented with one. You do not quickly conclude on hiring the expert. Yes, there are vital questions to ask a financial advisor.

The advisor should be ready and able to answer them. In most cases, experts in financial matters will not only answer all the questions but will also educate you more on the topic.


Therefore asking questions poses one way of finding the best financial advisor. Again, in the process of asking the questions and the financial advisor are reluctant to answer, simply dismisses the fellow.

5. Verify the credentials:

It is not enough that a financial advisor presents you with a certificate. It would help if you make a verification. Make inquiries on what courses the advisor attended.

If possible, go to the search engine to get enough facts about the records on the certificate. Go to FINRA – Financial Industry Regulatory Authority or any board that is associated with the financial advisor. The broker check on the FINRA website can help you get any information regarding the advisor.

6. Go online and research

Another method you can apply to find the best financial advisor is to embark on online research. There are thousands of financial advisory firms to seek solace from.

Many of these firms have specialized abilities therefore, you have to research for the firm that fails in line with your request. All the same, while conducting your online research also pay attention to transparency. For instance, a firm that has a good amount of evidence to prove its worthiness.

J.P. Morgan is one big firm in the United States that renders quality service to its clients globally. It has other advisory groups that foresee different financial adversary matters. An investor who picks interest in J.P. Morgan can go through the website to obtain larger information.

7. If possible look for a fiduciary

You can ask someone to refer a good fiduciary to you. A fiduciary is a certified professional in financial matters who can act on trust to manage a client’s monetary affairs.

You can obtain information about a Fiduciary through their respective firms. They are registered investment advisors.

An individual can act as a Fiduciary provided there is a strong trust that exists between the investor and the Fiduciary. However, no matter the level of trust you still need some level of mindfulness over your finances.

8. What area of financial advisor do you want?

Finding the best financial advisor may not be a straightforward ordeal. You need to understand the different types of advisors by qualification and course attended.

When you understand their area of specialization it becomes easy to identify one. For instance, investment advisors, certified financial planners, wealth advisors, and financial coaches.

All of these bears financial advisor title but may have different areas of specialty.

9. Understand what it cost to find a financial advisor

If you are prepared in getting the best advisor, learn also what it cost to hire a financial advisor. When you finally find one and you are satisfied with the service and the choice you made, you can go ahead and engage his or her service.

10. Search for other Advisory alternatives

Sometimes it can be advisable for investors to seek other alternatives or a second plan when finding a financial advisor.

This is just creating two options, when one option fails the other works. A Robo advisor can be a second alternative which can also minimize cost. However, when creating alternatives also consider getting the needed satisfaction.

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