How to Choose the Right Fit
You’ve decided that a Wealth Advisor may be right for you. How do you go about choosing one?
The specific choice of which Wealth Advisor to use should be made with the following considerations in mind:
Professional Competence and Reputation
Does the Wealth Advisor hold industry-recognized professional designations and credentials? Does he or she have a solid reputation in the community and are they highly experienced in their practice areas? Is he or she a true fiduciary?
Disciplinary Record
Has the person or firm ever been named in an SEC or FINRA disciplinary action, or been involved in an arbitration case in any capacity? This is one of the most overlooked but obvious ways of determining the legitimacy of any advisor. You can check disciplinary records here.
Consultant versus Sales Professional
Consider whether the advice to be given by the Wealth Advisor is more in the nature of consulting or independent unbiased advice as opposed to the sale of a product or program.
Objective and Unbiased Advice
Since Wealth Advisors are not compensated for trades, they are free to provide totally objective advice that helps clients pursue long-range financial goals.
No Conflicts of Interest
Private Wealth Advisors work only for their clients and do not manage or advise any mutual fund group or receive money from those groups or from any outside third parties.