When you decide to choose a wealth advisor, this is a major decision. You’ve worked hard earning this money or preparing for your retirement. Here are six areas of concern to consider: 


1. Hiring an advisor who doesn’t put your needs first 

You want to hire a wealth advisor who is prepared to answer all of your questions and who can clearly explain why the investments and strategies they recommend are in your best interest.


2. Hiring the first advisor you meet 

You should take the time to interview several advisors then choose the one that is best for your financial situation.  


3. Choosing an advisor who doesn’t specialize in your area of need 

There are different types of wealth advisors. Some focus on how to accumulate your wealth, while other focus on how to create a retirement plan. If you are retired or soon to be retired, you want an advisor who looks at all aspects of your financial life – your income, investments, estate plan, health care plan and tax plan 


4. Picking an advisor you aren’t compatible with 

If you choose an advisor who invests aggressively, but you prefer to invest conservatively, you could find yourself not happy. The wealth advisor you choose should have a financial strategy that matches your beliefs.  


5. Not asking about credentials 

Financial professionals must complete certain licensing and exams in order to provide insurance and investment services. Before hiring an advisor, you should ask for and understand their credentials. There are excellent resources out there to help 


6. Not understanding how the advisor is paid 

All investment professionals must present disclosure forms that clearly explain to you how they are compensated and any potential conflicts of interest. This is a form you do not want to gloss over and your advisor should be prepared to answer all of your questions. 


There are more than likely many qualified wealth advisors near you, and it can be nerve-wracking when deciding who to choose. Choose the advisor who understands your financial goals and keeps your best interest in mind. 

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We are an independent firm helping individuals create retirement strategies using a variety of insurance and investment products to custom suit their needs and objectives. This material is intended to provide general information to help you understand basic financial planning strategies and should not be construed as financial advice. All investments are subject to risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. 

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