How To Find A Financial Advisor

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According to some estimates, there are more than 270,000 investment advisers in the United States. Some of them are brilliant… and some definitely aren’t. So how do you find the right person to help with your finances?

“One of the things about getting involved with a financial advisor is you end up telling them an awful lot about yourself, so you become almost personally involved.”
-Valerian Gremillion, Investor

A relationship with a financial adviser is just that: a relationship. That’s why it pays to do some homework before you commit to one.

“I did not make a decision about Darcy on the first visit that I had with her. I would say I was here at least two other occassions before I made a decision.”
-Valerian Gremillion, Investor

Val Gremillion’s happy with Darcy Beeman of Edward Jones. Because he took the time to find the right adviser. So should you. Start by forming a short list of referrals from your accountant, lawyer or friends. Then start asking questions:

For example, ask about credentials. And experience: not just in general, but specifically people like you.

Ask how they get paid: if it’s on commission rather than hourly, recognize that could present a conflict of interest.

Third, ask for references: preferably an investor like you in both size and philosophy.

And finally, check their disciplinary history: it only takes a few minutes online.

“Come to a point where you’re either comfortable with them or you’re not comfortable. And if you’re not comfortable, walk out the door.”
-Valerian Gremillion, Investor

But when it’s all said and done, the perfect adviser is one that’s going to reflect your personal needs for your personal situation. That’s why you’ve got to talk to a few: only then will you know when you’ve found Ms. Right.

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Comments & discussion

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  • http://www.claroconnect.com/ financial advisor

    Another important thing to look for is that the advisor has experience working with other people in your financial situation. Many advisors focus on general categories like business owners or retirees, so you should look for this experience. Some advisors are even more specialized, working with divorced women, estate planning or certain professions like doctors.

  • http://www.claroconnect.com financial advisor

    Another important thing to look for is that the advisor has experience working with other people in your financial situation. Many advisors focus on general categories like business owners or retirees, so you should look for this experience. Some advisors are even more specialized, working with divorced women, estate planning or certain professions like doctors.

  • Matt C

    Is there a certain age that one should have a financial adviser? I’m 32 and am just getting started at building up my retirement. I have no money in stocks or anything and am currently in credit counseling. I was thinking this is something that I should do as I get closer to retirement–or should I look soon?