How to Choose a Financial Advisor
We had a #CreditChat with @GarrettPlanning @ThinkAdvisor @FPassociation and CFP Board Consumer Advocate @EleanorBlayney to discuss when and how to choose a financial advisor.
During this tweetchat, we also had a Google+ hangout to discuss this topic and highlight favorite tweets. The video panel included: Gail Cunningham (National Foundation for Credit Counseling), Rod Griffin, Experian’s Director of Public Education, Heidi Thompson (Money Crashers), Claire Murdough (ReadyForZero), and Mike Delgado (Experian).
Questions we covered:
Q1: Have you ever seen a financial advisor? If not, how come?
Q2: When do you think someone should see a financial advisor?
Q3: What questions should you ask when choosing a financial advisor?
Q4: What types of qualifications and experience should an advisor have?
Q5: How can you determine how compatible this financial advisor will be with you?
Q6: What are red flags to watch out for when meeting a financial advisor?
Q7: How do financial advisors get paid?
Q8: Where can you go online to find a financial advisor?
Q9: Any final tips for those looking for a financial advisor?
Resources Shared:
- 10 Questions to Ask a Financial Planner – CFP
- Questions You Should Ask About Your Investments – U.S. Securities & Exchange
- Guidelines for Selecting the Right Credit Counseling Organization – NFCC
- How to Choose a Financial Planner – AARP
- Let’s Make a Plan – CFP
- National Association of Personal Finance Advisors (NAPFA)
- Investment Adviser Public Disclosure – U.S Securities & Exchange
- GarrettPlanningNetwork.com
Highlights
Tweetable Tips
Main question to ask when choosing a financial advisor: How are you compensated? [Retweet]
Questions to ask financial advisors: certifications, affiliations, expertise, fees, length of practice. [Retweet]
Even financial advisors should have an advisor. Doctors still have doctors, after all. [Retweet]
It’s never too early to start planning — even if you can only take baby steps. [Retweet]
See a financial advisor when you are financially sick – or when you need a check-up. [Retweet]
The best time to see a financial advisor is yesterday. [Retweet]
If the financial advisor won’t have a fiduciary duty to you. Run! [Retweet]
A legitimate financial agency is always more interested in your bottom line than theirs. [Retweet]
