How to Choose a Financial Advisor
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In this #CreditChat, we talked with Garrett Planning, ThinkAdvisor and CFP Board Consumer Advocate Eleanor Blayney about steps to take when hiring a financial advisor. You can see the full transcript and links to resources here: http://www.experian.com/blogs/news/about/financial-advisor/
Transcript of How to Choose a Financial Advisor
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.
#CreditChat
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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#CreditChat
When do you think someone should see a financial advisor?
Wednesdays | 3 p.m. ET#CreditChat
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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#CreditChat
Financial problems don’t cure themseleves.
What questions should you ask whenchoosing a financial advisor?
Wednesdays | 3 p.m. ET#CreditChat
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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#CreditChatVIEW QUESTIONS
What types of qualifications andexperiences should a financial advisor have?
Wednesdays | 3 p.m. ET#CreditChat
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?
Wednesdays | 3 p.m. ET#CreditChat
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?
Wednesdays | 3 p.m. ET#CreditChat
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
Join Us Every Wednesday at 3 p.m. ET.
bit.ly/join-creditchat
#CreditChatWednesdays | 3 p.m. ET
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