When choosing a financial advisor, whether it’s a CFP, CFA, or any other type of advisor, consider the following:
- Check the qualifications. Review the qualifications of your potential advisor. Check with the CFP Board or your state to make sure they’re up to date on regulations and offerings.
- Make sure they meet your needs. Think about what you want from a financial advisor, whether it’s investment help, small business information, or tax planning. Look for an advisor with a specialty that reflects your situation.
- Review their strategy. Find out what strategies are used by the advisor and make sure they match your priorities and that you’re a good fit for each other.
- Check to see it fits your budget. Finally, make sure the fee structure works within your budget. You need to be able to afford your financial advisor.
In the end, you need to ask questions and trust your instincts. Talk to two to four financial advisors and get a feel for them. Choose someone who feels like the right fit for you and your needs.