So, you have decided it is time to invest in your future and want to connect with the right financial advisor for your needs and goals. Not all financial advice is created equal, and you should be sure to vet any potential advisors with careful consideration. We recommend asking these top questions to help you feel comfortable working with a financial advisor.
What Services Can They Offer You?
From financial planning to tax investments, there are a variety of financial advisory services on the market. Depending on your needs and goals, you may require multiple or just one – it all depends on you. The most common type of assistance received from your financial advisor will most likely be overall financial planning, with the goal of setting yourself up for a stress-free retirement. This is when you will review your current spending, budgets, and assets, as well as future projections on how you plan to spend during retirement.
On some occasions, you may need additional services from your financial advisor, such as investment planning, wealth management, tax planning, retirement planning, and even insurance coverage. Ask your financial advisor for their portfolio of successful work with similar clients to yourself to give you the bigger picture of what to expect from them.
Do They Offer Fiduciary Services?
A fiduciary is responsible for taking care of one’s investments and money. They come in many different forms, and financial advisors are commonly considered fiduciaries for their clients. Fiduciaries are morally obligated to act in their clients’ best interests. Their obligation is to consistently prioritize their clients’ best interests when rendering investment recommendations and ensure the upfront disclosure of any known conflicts of interest prior to advising on investments or money management strategies.
What Are Their Costs?
You should have a clear understanding of the fees and costs of each financial advisor you consider. Some financial advisors require fee-based payment, in which you pay them a predetermined fee for their services and can include minimum account balances to manage your portfolio. Other financial advisors work by the commission-based method, which is essentially commission on accounts or products sold. Regardless of how you are paying them, your financial advisor is still required to act with your best interests in mind.
Finding the Right Financial Advisor for You
The right financial advisor is out there; you just have to ask the right questions to connect with the right one. Whether you have major assets and investments or are just starting to build your portfolio, you could benefit from a successful financial advisor. At Davis Wealth Management, we prioritize our clients and work hard to help them make sense of their finances so that they can live the life they have dreamed of. Connect with one of our trusted financial advisors today and begin securing your future.
About Davis Wealth Management
Davis Wealth Management is a pre-retirement and retirement planning and education organization that has grown to be a multi-fiduciary advisory company that provides an array of financial services. Our team is committed to empowering you with the tools to identify and achieve your financial goals and provide you with a more confident retirement. To get started on a more secure financial future, visit daviswealthmgmt.com or call (603) 715-2335.