How to Find a Financial Advisor to Protect and Grow Your Wealth 

With a professional financial advisor on your side, you don’t have to be an expert in money matters. The right partnership can help you prepare for retirement, pick great investments for a well-balanced portfolio, lower your tax burden, and get your estate plan in tip-top shape.

No matter your budget, lifestyle, or financial goals, here are five steps for how to pick a financial advisor.

1. Identify Your Unique Financial Goals and Needs

The first step is to dig into your personal financial situation. Why are you looking for a financial advisor? Do you need help:

• Paying down debt?
• Building and sticking to a budget?
• Setting long-term savings goals?
• Planning and saving for retirement?
• Protecting your family’s assets when you’re gone?
• Creating an estate plan?
• Optimizing your investment portfolio?

Maybe you need an advisor who takes a holistic approach to money management and can provide practical, tailored strategies covering multiple topics. In this case, look for a dedicated retirement team with the resources to get you the necessary answers.

2. Find a Firm Specializing in Your Stage of Life 

Each stage of life requires a practical financial plan. The right financial advisor has specialized experience working with those in similar economic situations and stages of life. After all, there’s a big difference between a young professional in their 30s working to purchase a house and older adults needing help finessing their investment portfolio or managing their estate plans.

Do a little digging into a firm’s clientele to determine if they are a good fit.

3. Consider Your Financial Literacy

Financial literacy is comprehending and using diverse financial skills, such as money management, budgeting, and investing. Financial matters can be complicated, and if you need help understanding your options, an education-driven financial advisor willing to answer all your financial questions is ideal.

4. Understand Financial Advisor Fees

Financial advisors charge fees differently depending on the firm you choose. You could be charged:

• Hourly
• A flat rate for all services
• A percentage of the assets under their management

Many accounting firms, like GenWealth Financial Advisors, work to make financial planning accessible to the people who need it most. That’s why we have no minimum requirements, and your initial consultation is always free.

5. Make Sure They Come With a Strategy

Plans and goals are critical for financial planning. But how will you arrive at your destination? If you want to know how to select a financial advisor, look at their strategies. Advisors should be experienced guides that help you make life’s most important money decisions. They should come with a segmented approach that enables you to understand how to utilize your money in time-bound, incremental stages.

A practical strategy with clearly defined steps is always better than lofty, unattainable goals.

Choose Financial Advisors That Believe in You

If you’re still wondering how to choose a financial advisor, ultimately, you should find a team that truly believes financial independence is possible for you. Your financial advisors should be your greatest champions. They should celebrate your success stories and be on your side if setbacks occur, creating a collaboration that helps you keep pace with life’s challenges and changes. 

For comprehensive and tailored financial services, reach out to GenWealth Financial Advisors. We’re committed to helping you achieve your financial goals. Contact us to request an appointment.