Dump Him! Find The Financial Advisor Who Is Right For You
By Caroline Wetzel Y
ou know the feeling. You don’t look forward to talking to him like you used to. When you see him, he smiles and nods, but you sense that he’s not really listening. And more and more regularly – often late at night, when you are trying to sleep – that voice in the back of your head tells you that he’s not good enough; he doesn’t know what is really important to you.
Yes – you have been together a long time. Yes – it was great in the beginning. But things have changed. You wonder whether he will be there
for you when you need him the most, when big family issues, health scares, career challenges and life in general become even more bumpy and uncertain if you’re already second guessing your relationship?
You know you deserve more. You
know you want more. You know it is time to change.
How do you fi nd the right fi nancial
advisor for you? Following are three steps that I offer you
from my own experience both as an investor and as a Certifi ed Financial PlannerTM
and
Private Wealth Advisor to clients who have chosen to leave advisors that they have worked with for years because they knew in their heads, hearts, and wallets that they needed something more.
Step 1: Date
When I fi rst began dating and found the experience frustrating, my mother patiently said to me: “Relax, Caroline – there’s a lid for every pot. And if you don’t fi nd yours, you can still cook up a satisfying life for yourself as an independent woman!”
Mom is right – and her sage insights are
relevant both to dating and money manage- ment. You see the fi nancial services industry is so expansive that there are multiple solu- tions available for every need.
Your challenge is to know what you
need fi nancially and identify the right solu- tion for you.
If what you’re seeking is someone who:
• cares only about what is important to you fi nancially, and not about selling you products or services that are “good enough” for you right now,
• has completed extra training and meets experience requirements for knowing how to ask you questions around your fi nancial goals and translate your answers into a plan,
• maintains the highest ethical standards when providing you:
• saving and spending strategies to help you achieve your goals
• investment advice
• guidance on insurance selection and ongoing relevance
• debt payment techniques
• coordinated oversight of your fi nances with people you des- ignate, like select family mem- bers, your accountant, and your attorney as part of your trust and estate plans
fi ed Financial PlannerTM Step 2: Go steady
…then what you need may be a Certi- (CFP®
).
encouraged to me to “do my homework” on any potential partner.
My Mom, a high school teacher, always “It’s one thing to
enjoy some fun experiences together, it’s an entirely different thing to commit to each other, and only each other.”
While being a CFP® immediately
elevates a fi nancial services professional to the gold standard level for providing you ad- vice, other factors are important to research and consider before choosing this person to work with you:
• Understand the CFP® and specializations
’s experience
• Learn whether the advisor works independently or as part of a larger team
• Confi rm the services available and which ones are relevant for you
• Clarify whether the services are one- time or ongoing
• Verify how much the services will cost you and both when and how you will pay for them
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