Finding the Right Adviser

Questions to Ask Yourself and Your Adviser

Finding the right wealth manager for any of the important areas of your life can be a daunting endeavor, particularly in the financial services industry. What is the difference between stockbrokers, financial planners, investment advisers, wealth managers, investment consultants, and any other combination of the aforementioned titles? In an industry where a job title no longer clearly identifies the services, relationship, designations or expertise an adviser offers, how do investors actively examine and choose the best adviser and firm for their needs? Uncovering the differences is more important than ever, and here are some questions to help you do that:

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Explore the Hardy Reed Process

  • Has my advisor invested the time to understand me, my values, and my needs?     
  • Does my advisor clearly explain the planning process, what I can expect from them, and what they expect from me for a successful relationship? 
  • Does my advisor have an undivided loyalty to me free from any conflicts of interest? Is my advisor an advocate for me in the marketplace?   
  • Are the recommendations given by my advisor offered under a fiduciary or a suitability standard? 
  • Do I trust the advisor and the firm’s expertise, integrity, and service so I can confidently follow their advice for the long term? 
  • Does my advisor have the education, experience, and credentials necessary to deliver a consultative wealth management relationship? 
  • Does the compensation structure foster a long-term relationship and a cost-effective exchange of value over time?
  • Am I working with an individual or a team? Does the team or individual I work with also collaborate with the other professional advisors important in my life to achieve a comprehensive financial strategy for my financial and life goals?
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