Updated: Jan 13
● Selecting the right financial advisor can be a challenging task, but a critical one.
● Aside from personal preferences, there are three “Absolutes” you should screen for when selecting your advisor.
● Time and Enthusiasm, a Fiduciary-responsibility, and a Likeable Person are keys to a strong and valued advisory relationship.
Choosing your financial advisor is one of the most important financial decisions you can make – especially if you’re in, or nearing retirement. But with so many advisors out there, and a lot of companies to choose from, how should you go about making your decision? How do you select that right one?
While you may have your own preferences on certain tangibles such as experience, education, or credentials…. There should be three qualities about your advisor and their situation that must be absolutes, in order for you to have the kind of experience you deserve as a valued client.
First … they must have Time and Enthusiasm for you. I cannot stress this enough. I bet you’d be surprised to find out how many financial advisors have very large practice sizes. Too big of practice sizes in-fact, which seems to be the norm in our industry. Too many households … too many clients … and not enough time or mental energy to take care of them all at the highest level. You need your advisor to be able to spend time with you and be enthusiastic about solving your financial issues. Not someone who is drained, exhausted, and playing catch-up all the time.
Second … they should be a Fiduciary. What this means is that as a fiduciary they must put your best interests ahead of everything else. Nothing can be more important than that. A fiduciary’s job is to find the very best solution for YOU – not just A solution that checks a box.
It’s important to note … all CFPs® must act as fiduciaries at all times – no matter what Firm they are associated with. So, if you see those CFP® marks, you know they are a fiduciary.
And number Three … you must Like them. It sounds rather simple, but it holds true. No one wants want to work with someone they don’t like. I'm sure you don’t want to go to a doctor, or personal trainer, or therapist that you don’t enjoy working with. Find someone who is likeable, someone you will enjoy sharing your biggest desires, biggest hopes, and biggest fears with. A financial advising relationship is very personal and finding someone that you truly like as a person should not be overlooked.
We hope this helps you in your search. If you’d like to find out if we meet all three of these absolutes for you, explore our website, or schedule an introductory call with us. We’d love to talk with you.
Disclosure: Bridge The Gap Retirement Planners LLC (BTGRP) is an Investment Advisor registered with the States of CA/AZ. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy, or the completeness of, any description of securities, markets or developments mentioned. We may, from time to time, have a position in the securities mentioned and may execute transactions that may not be consistent with this communication's conclusions. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, btgretirementplanners.com. This disclosure brochure, or a summary of material changes made, is also provided to our clients on an annual basis