Q: I’m thinking about working with a financial advisor. What criteria should I use when selecting a professional?
Hiring a financial advisor seems like it’d be a simple task, but I’m glad you recognize that you should carefully consider the right person to hire. Here are three important characteristics to consider when vetting advisors:
Beyond that, I recommend finding an advisor who focuses on clients like you. If you’re a young professional, for example, you probably shouldn’t be working with an advisor who typically works with clients nearing retirement. That’s like going to a pediatrician for heart surgery. Ask the advisor what percentage of his or her clients are going through similar life situations and have similar needs.
Remember, no single financial advisor can help everyone. So if you speak with someone who says they’re right for you no matter what, that’s your cue to walk away.
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