Before You Hire a Financial Advisor

This guide will teach you the costs and benefits of different sources of financial advice. Doing it yourself comes with a lowest cost, but might lead to questions and/or mistakes. Would hourly advice make the most sense, should you go with a robo-advisor, or would you prefer the more expensive comprehensive advisor relationship?

What Do Financial Advisors Do?

Ideally, the role of a financial advisor is to help you envision your future, help you create a personal financial plan, help you monitor the plan and manage your investible assets so that you reach your financial goals. They can help you with:

  • Planning. You can figure out your goals and determine your spending.
  • Plan Implementation. A typical financial plan may have an associated action plan with anywhere between 10 and 30 action steps.
  • Behavioral Coaching. A good financial advisor coaches you through the pitfalls associated with making decisions based on emotion.
  • Portfolio Management. They can help manage your investible assets.
  • Wealth Management. Wealth managers provide you with guidance, keep your finances on track, help you consider your legacy, and make sure all aspects of your financial world are working together.

Download the financial advisors guide to determine if you need an advisor and how to find one that works for you.

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