Good advice can help you meet your financial goals, but not all advisors are going to be able to meet your needs.
You want to find one who fits your goals, who can work with your level of investment knowledge, as well as the amount you have to invest, and provide the services you’re looking for.
Before taking the steps to choose a financial advisor, you need to learn about yourself: How much do you know about investing? How much risk are you willing to take? What are your investing objectives? What kind of involvement do you want from a financial advisor?
Once you know what you’re looking for, you can start to search for the right financial advisor.
____ My age
____ My retirement age
____ Years until retirement
Investment knowledge
How much do I know about investing and financial planning?
I’ve read a number of books on investing; I keep up with financial news and have invested on my own.
I’m familiar with investing but want to learn more.
I can take care of my daily finances but need help with long-term planning.
I feel anxious dealing with my finances.
Risk tolerance
How would your family describe you as a risk taker?
You’re a serious gambler
You’ll take the risk after knowing what’s at stake
You’re a cautious person
You avoid risk at all cost
Investment objectives
What are my investment goals?
Growth. I want to get the best rate of return on my investments over the long term but realize that I may lose in the short term.
Balanced growth. I would like the portfolio to grow but can’t handle significant losses.
Income. I need my investments to produce a steady stream of income and would like to stay ahead of inflation.
Safety. I can’t afford to lose any value of my investments.
Relationship with advisor
What level of involvement or control do I want with respect to my investments?
I don’t want to be bothered with day-to-day decisions.
I would like help with overall strategy but want to make decisions about individual investments.
I want to make decisions on how my finances are managed.
Financial services list
Here are some of the services I want from my advisor
Goal setting
Cash management
Investment review
Risk analysis
Investment planning
Insurance planning
Education planning
Retirement planning
Tax planning
Business (or business succession) planning
Charitable donations and legacy planning
Estate planning
Amount I can invest
How much do I have to invest?
More than $250,000
$100,000 to $250,000
$20,000 to $99,999
$10,000 to $20,000
Less than $10,000, but I’m interested in starting a small monthly savings program
