Andrews Financial Services

www.andrewsfinancial.net

Review Share Tweet Save Text Print

Choosing A Financial Advisor

It's never too early or too late to consider your finances. Perhaps you are looking to save for retirement or make a large purchase, such as a home. Maybe it's time to save for your children's college education. In any event, it pays to invest in expert help from the outset. Whether you are just getting started and are new to financial planning or looking for new investment opportunities and ideas, working with an expert in the field is the only way to go. Here are some basic pointers on choosing an ethical financial advisor and determining if they suit your circumstances.

Consider your goals. Financial advisors may have different areas of expertise and can offer various services. Some planners may focus on retirement planning, college planning, life insurance design, and tax savings strategies.

Are you completely new to financial planning? Do you have a specific agenda in mind when it comes to investing? Do you want to buy a home (or a second home)? Perhaps you need some general advice. Write down your objectives and consider them as you delve into your search.

Touch base with family members, friends, and colleagues in similar stages of life and ask about their personal experiences with their financial advisors
what do they like and want to improve? Online research can also help weed out the options. Do you prefer a face-to-face relationship with someone, or are you more at ease on the phone or online? Your personal needs will help determine the kind of Advisor you select.

Ask yourself a few of these questions to help determine the personality of your potential financial Advisor. They should listen well and not rush you into making any decisions. Respect their experience and expertise, but communicate your needs and wants.

Be aware of recent industry recommendations to help determine the standard used by the Planner, which may be the fiduciary standard or the suitability standard. In
actuality, the more recent
Department of Labor rules suggests asking your Advisor if they are acting as a fiduciary for your benefit in the planning process.

Credentials are important. You can check online with professional organizations or societies. The guidelines of these organizations focus on keeping their members honest and holding them accountable. The primary mission is to benefit the public by upholding recognized standards of excellence for competent and ethical personal financial planning. The ideal goal for an Advisor is to consistently provide integrity, objective advice, competence, fair treatment, privacy, professionalism, and diligence to their clients.

Choosing a trusted financial advisor is a huge decision. The recommendations you receive could significantly impact your stability and quality of life in the decades ahead.

Call us today 281-550-3330! We look forward to meeting you and constructing a plan for your family's future goals.