How to Choose a Financial Advisor

#CreditChatWednesdays | 3 p.m. ET

Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we discussed how to choose a financial advisor.“

Check out all the resources and tips shared:

bit.ly/financial-advisor

Finances are very personal - hard to find trustworthy peopleto share intimate details with.

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Tweet by @iGrad

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Even financial advisors should have an advisor ...doctors still have doctors, after all

Tweet by @ThinkAdvisor

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When do you think someone should see a financial advisor?

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It’s never too early to start planning - even if you can only take babysteps. Tweet by @ReadyForZero

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Seeing an advisor is just like seeing a doctor: go when you are financially “sick” or when you need a check-up.

Tweet by @EleanorBlayney#CreditChat

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Age doesn’t matter. Tweet by @IdiyaConsulting

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When you want to set yourself for success financially ...

The best time to see a financial advisor is yesterday. Tweet by @csmithraleigh

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Time to reach out when you first begin having financial concerns.

Tweet by @nfccdebtadvice

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Financial problems don’t cure themseleves.

What questions should you ask whenchoosing a financial advisor?

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Main question to ask when choosing a financial advisor:

Tweet by @AARPMoney

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How are you compensated?

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Ask certifications, affiliations, length of practice, expertise and fees

Tweet by @iGrad

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when recruiting a financial advisor.

Ask for references from satisfied clients. Tweet by @MoneyCrashers

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The SEC has a good list of questions to ask about advisors. Tweet by @ThinkAdvisor

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What types of qualifications andexperiences should a financial advisor have?

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A legitimate agency is always more interested in your bottom line than theirs.

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Tweet by @nfccdebtadvice

Not all certifications mandate that financial advice must be in client’s best interest

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Tweet by @AARPMoneyAsk about fiduciary duty.

What are red flags to watch out for whenmeeting a financial advisor?

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RED FLAG: When financial advisor talks only about his credentials

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Tweet by @EleanorBlayneyand does not inquire about your needs and wants.

Disorganization and being made to feel like they don’t have time for me.

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Tweet by @MoneyCrashers

Financial Advisor Red Flags: commission only, does not disclose potential bias Tweet by @iGrad

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If they state they don’t/won’t have a fiduciary duty to you. Run!

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Tweet by @WealthHike

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No accreditations and not willing to be honest with someone about their finances

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Tweet by @PlutusAwards

Any final tips for those lookingfor a financial advisor?

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Spend as much time choosing an advisor as you do planning a vacation!

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Tweet by @EleanorBlayney

Interview at least 2 or 3

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