A financial advisor is a professional that can help you make smart monetary decisions and may also provide peace of mind.
Why might you need a financial advisor? In a nutshell, a financial advisor can do more than just help clients with investments or market trades – they also use their expertise to come up with personalized plans to guide you in reaching your financial goals.
Whether it’s saving for retirement or for a future goal, a financial advisor can help you get started on your goals and educate you on what is needed to achieve them. You may start off learning about budgeting and saving and, as your time with your advisor goes by, graduate to more complex topics such as investments, insurance, and taxes.
Financial advisors can assist you with many topics, including the following:
- Choosing accounts
- Retirement planning
- Planning how much you save
- Informing you on the kinds of necessary insurance needed (disability, long-term care, term life, and more)
- Estate planning
- Tax planning
- And more
How to Choose a Financial Advisor
Finding the right financial advisor is key – after all, everyone’s situation is different, and finding the right fit makes all the difference. Here are a few factors to consider before choosing a financial advisor:
- Know your financial needs and goals: Because financial advisors offer a wide range of services, it’s essential that you know what your financial needs are before looking for the right one for you. For example, are you looking for help with creating a budget, building a savings, holistic financial management, or something else? Keep this in mind while on your search.
- Research the financial advisor’s background: Some financial advisors specialize in a variety of different topics – debt management, estate planning, investment advice, savings, taxes, and more. It’s important that you are matched up with the right expert.
- Look at your options: Your relationship with a financial advisor will typically be a long-term one, so it’s essential that you shop around and find someone who is on the same page as you. Financial advisors may go by other titles (brokers, certified financial planners, financial coaches, investment advisors, portfolio managers, etc), so it’s essential to look for a financial advisor who has the credentials to back them up by being certified and licensed. You can research an advisor’s background by looking up the firm’s Form ADV and check their employment record on FINRA’s BrokerCheck website.
Our Recommended Financial Advisors
Not sure where to start? Here are our top picks for financial advisors.
Datalign understands that finding the right financial advisor is a huge decision that shouldn’t be taken lightly, so matching you with an expert isn’t solely based on your location or portfolio. Instead, Datalign strives to understand your financial situation, preferences, and long-term goals.
Following a thorough questionnaire, Datalign scours its database of advisors nationwide in order to match you with a professional who has the expertise to advise on your specific situation. If you wish to chat with your potential advisor, you then confirm your contact information and your matched advisor will reach out for a free, no-obligation call.
Ready to get started with Datalign? Find your potential match here.
SmartAsset helps you find a financial advisor through their database of local and nationwide professionals. Each of these advisors are vetted fiduciaries, meaning they are legally bound to act in your best interest.
SmartAsset’s comprehensive quiz gathers information on your financial situation and goals before connecting you with pre-screened matches. Whether you are looking for advice on banking, home ownership, taxes, and more, a financial advisor may help you on your financial journey.
Want to try SmartAsset’s free, no-obligation service? Get on the path toward achieving your financial goals here!
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