When And How To Go For Help – Choosing Financial Advisors

52 Simple Ways to Manage Your Money – 20. When And How To Go For Help – Choosing Financial Advisors

What it is …

Seeking the advice and recommendations of a financial planner, stockbroker, insurance agent, attorney, or accountant.

How it helps…

Provides new information from sources previously unavailable to you.

Offers objectivity and support

You benefit from their years of professional experience and training.

Key items to look for…

The professional credentials of the advisor.

The compensation structure.

The experience of the advisor.

Your comfort level with the advisor.

The advisor’s ability to communicate clearly.

The advisor’s area of expertise.

The advisor’s typical client profile.

Time …

One hour per meeting, plus preparation and evaluation time.

Ongoing, as needed.

Keys to action …

Ask friends and existing advisors for recommendations.

Create a list of questions to ask the advisor.

Practice presenting your concerns clearly and concisely.

Make appointments with two or three advisors. a Evaluate the meeting.

Select the advisor with whom you will work best.


Have in mind the services you expect.


Seek persons who specialize in the types of services you want.


You are interviewing them for a job.

They will be working for you.


Your willingness to ask for advice.

Your concerns about trust.

Your desired level of participation.

Your feelings when you interview prospective advisors. Are you intimidated? Do they tell you or ask you?

But what if …

The relationship doesn’t work well?

You are the consumer and deserve to work only with those whom you trust and who treat you well. Choose someone else.

Thought primers …

At the thought of asking for help…

When I try to do things myself…

Talking about sensitive issues makes me feel…

When someone tells me what co do, I…

Doing things myself means…

Being in a partnership means…

When And How To Go For Help – Choosing Financial Advisors