What to Know Before Hiring a Financial Adviser

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What to Know Before Hiring a Financial Adviser
Featuring Certified Financial Planners: @R_Alan_Moore, @KatieYRL,
@WrenneFinancial, @Marybstorj and @Sophiabera

2. Join our #CreditChat every Wednesday at 3 p.m. ET. This week,
we talked about steps to take before hiring a financial
planner.“ Check Out All the Tweets and Resources:
ex.pn/adviser

3. Wednesdays | 3 p.m. ET
Why have many people never seen a financial
adviser?
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4. Many people never see financial advisers because of lack of
awareness, cost, or apathy toward financial matters.
Tweet by @GraceKvantas
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5. Tweet by @Sophiabera
to work with a financial planner.
Many people don’t think they have enough money
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6. Working with an advisor also means being ready for change and
exposing bad habits, which can be a tough pill to swallow.
Tweet by @Marybstorj
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7. Wednesdays | 3 p.m. ET
Why is seeing a financial counselor helpful?
When is a good time?
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8. While most people wait until there’s a problem, you can really
go at any time. In fact, it’s better to go BEFORE trouble.
Tweet by @LeslieHTayneEsq
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9. People don’t plan to fail, they fail to plan!
A planner will help you get it done.
Tweet by @WrenneFinancial
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10. Any time is good to meet with a planner -- Facing life transitions,
tackling debt, figuring out employee benefits, goal planning.
Tweet by @Marybstorj
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11. Wednesdays | 3 p.m. ET
What types of qualifications and
experience should an adviser have?
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12. Look for a financial adviser who is a certified
financial planner (CFP). They’re licensed and
regulated, plus take mandatory classes on
different aspects of financial planning.
Source: The Wall Street Journal
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13. Look for an advisor who specializes in clients like you.
Tweet by @ErikOKlumpp
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14. Wednesdays | 3 p.m. ET
What types of financial advisers should
you avoid? Any warning signs?
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15. If you feel like you’re being pushed, sold or talked down to,
run away and find a better advisor.
Tweet by @KatieYRL
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16. Avoid any advisor who does not have a clear, transparent fee
structure and who will not work as your fiduciary.
Tweet by @XYPlanning
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17. Wednesdays | 3 p.m. ET
What services do financial planners offer?
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18. Organization - Accountability - Objectivity - Proactivity -
Education - Partnership
Tweet by @WrenneFinancial
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19. Budgeting help, debt repayment plans, maximizing company
benefits, choosing 401(k) investments, goal setting and more!
Tweet by @Sophiabera
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20. Wednesdays | 3 p.m. ET
How are financial advisers compensated
for providing services?
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21. Good financial advisors should only get paid by you (the client)
directly through fees. We call that being fee-only.
Tweet by @R_Alan_Moore
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22. Know the difference between “fee-only” and “fee-based”. Fee-only
is paid by YOU. Fee-based can also receive outside commissions.
Tweet by @ErikOKlumpp
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23. Wednesdays | 3 p.m. ET
How can you make sure a financial planner
is a fiduciary?
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24. Questions to ask your financial adviser:
- Are you acting under fiduciary standard?
- Can you put that in writing?
Source: Bankrate
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25. Ask a planner to sign a fiduciary oath. All #XYNP
Tweet by @XYPlanning
advisors have taken an oath.
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26. Wednesdays | 3 p.m. ET
How often does a person need to see a
financial adviser?
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27. This usually depends on the person, but I
think quarterly or semi-annually is sufficient.
Tweet by @LeslieHTayneEsq
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28. Wednesdays | 3 p.m. ET
Any final tips on how to find a great
financial planner?
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29. Interview a few different people. There are many great planners
out there, but it often comes down to a personality fit.
Tweet by @Sophiabera
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30. Working with a Financial Planner is a relationship.
Approach the search like you would a partner.
Tweet by @ErikOKlumpp
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31. #CreditChat
Wednesdays | 3 p.m. ET
Check out all the resources and tips shared:
ex.pn/adviser

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Wednesdays | 3 p.m. ET
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