When it comes to planning for your future, selecting a financial advisor is a big decision. It is crucial to choose someone you feel confident trusting with your current and future assets, someone who has the experience necessary to guide you in making the right decisions for you, your family, or your business. When evaluating a potential financial advisor, here are some important things to consider.
- Education and Experience
It is vital that the financial advisor you choose has the relevant education, experience, and certifications necessary to provide sound financial advice. In addition, it is important that they have experience working with clients like you. Whether you are at the beginning of your career or only a few years away from retirement, they should be able to meet you wherever you are financially. - Financial Fiduciary
Look for a financial advisor who is bound to a fiduciary standard regulated by the Securities and Exchange Commission (SEC) or state securities regulators. This means that your financial advisor must follow stringent rules that require them to always put their clients’ interests above their own. They must also do their best to provide investment advice that is as accurate and complete as possible based on thorough analysis. - Services Tailored to Meet Your Needs
It is important that the financial advisor you choose to work with is committed to providing you with services that best match your goals and needs. This starts with their commitment to getting to know you and learning about your goals and risk tolerance so they can customize a financial plan that will work for you. One of the things I pride myself on as a financial advisor is that I take the time to really understand your investment needs and tailor my advisory services to you. - Rates that Fit Your Goals and Budget
Depending on who you choose to work with, your financial advisor may charge an hourly rate based on the number of hours they spend working with you, a fixed rate, which is an agreed upon flat fee for their services, or a percentage of the assets they manage for you. Typically, an advisor who charges an hourly rate may be preferred because they will be more focused on your needs, but depending on your budget, a flat rate fee may be preferable so there are no surprises. Regardless of how they charge for their services, make sure it is clear how often and with whom you will be communicating. - Transparency and Communication
The best financial advisors keep you fully informed about the performance of your assets on a regular basis so you can make the right decisions at the right time. At Pluto Wealth Management, I believe that communication and transparency are the foundation of successful client relationships. By continually providing clients like you with complete and accurate information, I can help you weather financial storms and ‘sleep well on windy nights.’
Selecting a financial advisor to help you achieve your money goals is not a decision that can be taken lightly. It is important to do your research and ask the right questions so you feel confident in your decision and assured that you and your future are set up for financial success.