How to Find Your Perfect Financial Adviser
Everyone needs a little help now and then, and that includes the financial kind. But how do you go about finding the best money adviser for your situation?
If you choose to go old-school and do it all on your own, check out articles like 3 Steps to Finding the Perfect Financial Adviser.
These days, however, there are also services that attempt to make the process faster, easier and more efficient by asking you a series of questions, then sorting through all the options and finding local pros who best fit your needs. And the best part? You pay nothing for the help.
Here are two services we recommend:
Wealthramp: is a free service that will hook you up to the nation’s top, personally vetted, independent fiduciary advisers. (The term “fiduciary” means they’re required to put your financial interests ahead of their own.)
The service was developed by Pam Krueger, a well-known investor advocate and co-host of “MoneyTrack” on PBS. (She’s also someone Money Talks News founder Stacy Johnson has known personally for 30 years.)
Just like eHarmony helps match people in romantic relationships, Wealthramp empowers you to find the right fiduciary adviser based on your personal preferences. Unlike eHarmony, however, Wealthramp doesn’t charge you for the service.
How Wealthramp works
In three simple steps, you’ll get matched to professional investment advisers that are the best fit based on your personal preferences, including how you want to interact with an adviser.
- Step one: Answer a few simple questions. Your priorities are what drive the best possible match.
- Step two: Review your matches. Take a close look at each adviser match, you’ll find their background records right there on their profile. Remember, the advisers on Wealthramp are fiduciaries, not salespeople. That means they’re required to put your interests first.
- Step three: Make it happen. Click “request an introduction” and expect a reply from that adviser within 48 hours. You can also talk to your adviser matches using a private message, connect via the LinkedIn button, or simply start talking to the adviser directly using the contact information you are provided.
The search is completely complimentary, and there’s never an obligation. (Of course, should you choose to hire an adviser, you’ll work out a payment arrangement directly with them. But you’re never paying Wealthramp.)
SmartAsset has been around longer than Wealthramp and offers the same type of service. The online tool asks you questions, then uses your responses to match you with the best local financial advisers for your needs.
To match you with top local advisers, SmartAsset also asks you questions about your retirement plans, life status, investment goals and adviser preferences. Their algorithm then finds up to three advisors who fit your needs.
Before allowing investment adviser representatives onto their platform, SmartAsset verifies that they’re properly registered, licensed and don’t have any relevant pending or valid regulatory disclosures within the last 10 years.
Once you’re matched, you can expect to be contacted by an adviser within a couple of business days.
How SmartAsset Works
- Step one: Answer a few simple questions. You let them know what you’re looking for in an advisor, so they can find the best match.
- Step two: See your advisor matches. SmartAsset will match you with up to three. Take a look at each and learn more about their background and experience.
- Step three: Book appointments. Talk to your selected advisers and determine the best for your situations.
Which should you use?
Try them both! Neither costs anything, nor does either take much time. And since a good financial adviser is worth their weight in gold, the more you explore, the better the odds of finding the best fit.
And after using both services, please let us know the service you liked best and why. We’re always on the hunt for the best ways to help our readers!
Note: At Money Talks News, we often partner with outside services to bring you the best in financial advice and products. And while they may compensate us for referrals, that never influences our evaluations. Our opinions are always our own.