When it comes to filtering through financial planners to find the right one for you, there are some critical questions to ask the firm and yourself throughout the process.
What kind of clients does the firm specialize in?
It is a good idea to search for a planner that serves a demographic that is largely similar to you. Although you should avoid firms that feel like experts instead of teachers, your firm should be familiar with the concerns and scenarios common to your demographic while custom tailoring his advice to suit your life.
What services do they provide?
In asking this question, you are able to find out what the firm will not do for you. Some firms seek to simply be investment advisors, while others offer a far more comprehensive approach (retirement, insurance, estate, tax planning, etc.). The investment advice you receive may be good, but if other factors of your finances are ignored it may not be best for your unique situation.
How personal is my experience with the representative?
This measurement can often tell you if you are interacting with a salesman, expert, or teacher. It is important for the experience to feel like a conversation, not a lecture or a sales pitch. If you find yourself listening 90% of the time, you are not being counseled, advised, and informed, you are being told.
What makes this firm unique?
Be sure to schedule an interview with the prospective planner to find out what the true aim of their firm is for your money. Some firms will be better at maximizing your investments, while others will focus on protecting your hard-earned money in a wise way. If something doesn’t feel right, keep looking.
Learn more about Brown Financial Advisory
A Fee-Only registered investment advisor, Brown Financial Advisory, was founded in 1986 and is located in Fairhope, Alabama. Learn more about our distinctives, and services, or get started on your journey to live with more purpose.