If you are on Google searching for a financial advisor, what are you really looking for? An independent financial adviser? Wealth management? Investment advice? An asset manager? Financial advice? A financial advisor near me? Retirement planning? The best asset management team in Knoxville, Maryville or Oak Ridge?
We think what you are really looking for is a Certified Financial Planner (CFP®). Below are ten questions you should ask if you’re interviewing a prospective advisor.
Choose a CFP®: Out of 170 different professional degrees for financial planners, the Certified Financial Planners ® have more training and higher standards to meet – and this is the best way to ensure that your best interests come ahead of your financial planner’s interests.
Ask who will handle your account and make sure you meet them.
A CFP® has a “heart” based service orientation – make sure the person you are interviewing is listening to you.
Ask about the compensation structure – it should be transparent.
Inquire about their experience – look for a minimum of three years.
Ask about their qualifications – look again for the CFP® designation since it means they must complete mandatory continuing education.
Ask what financial planning services are offered and make sure they are registered.
Find out about their approach to financial planning – make sure the investing philosophy is not too cautious or too aggressive for you.
Also, look for a variety of services – investment management, retirement planning, and tax planning are just some of the services with a CFP®.
Contact FINRA or your state insurance and securities board and make sure there are no disciplinary actions towards the financial advisor you are considering. https://brokercheck.finra.org/