Finding the right financial advisor to help with your financial needs and goals can be complicated.
There are so many things to consider. Many advisors use a big assets-under-management figure as a selling-point when marketing themselves to investors. However, AUM isn’t the whole story when a potential client is determining which firm is right for them.
To be sure, every financial advisor has his or her own area of expertise. Each will have a different investment strategy and planning approach and offer various services, including tax and insurance planning, debt management, retirement planning, saving for education and charitable giving.
A financial advisor can play a major role in helping clients grow and protect their wealth. The key is to find an advisor you trust, and it’s important to make sure he or she is someone who is a good match for you.
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Technology is helping advisors meet customer challenges amid Covid-19
Many people, it has been said, spend more time planning their summer vacation than they do thinking about their financial situation. That’s alarming, when you consider the role money plays in your life. What’s more, amid this global pandemic, which has upended the U.S. and world economy, working with an advisor is more important than ever.
That’s why it is so important to find a financial advisor you trust. To do so, it comes down to doing some research, interviewing several advisors and asking the right questions. Here are some questions you should pose to a prospective advisor:
- How long have you been a financial advisor?
- Are you a fiduciary?
- Do you hold any professional certifications or designations?
- What services do you offer?
- What’s your investment strategy or style?
- How are you compensated? And how much will I be charged for your services?
- When, how and how often do you talk to clients?
The CNBC FA 100 celebrates those advisory firms that top the list when it comes to offering comprehensive planning and financial services to help clients navigate their financial lives. The advisors at these firms assist in setting realistic financial and personal goals. And they will help a client stay on track to meet changing goals due to personal circumstances, and any life-changing events.
The CNBC FA 100 ranking takes into consideration factors beyond just AUM. The ranking is based on a proprietary methodology developed by CNBC in partnership with data provider AccuPoint Solutions. (View the methodology here.) It was based on data culled from thousands of advisory firms.
Tune in to CNBC’s “Halftime Report” at 12p ET today to see David Rea, President of Salem Investment Counselors, which earned the top spot on the CNBC FA 100 list for the second consecutive year.
