How to Choose a Financial Advisor

  • Published on
    17-Aug-2014

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In this #CreditChat, we talked with Garrett Planning, ThinkAdvisor and CFP Board Consumer Advocate Eleanor Blayney about steps to take when hiring a financial advisor. You can see the full transcript and links to resources here: http://www.experian.com/blogs/news/about/financial-advisor/

Transcript

  • How to Choose a Financial Advisor #CreditChat Wednesdays | 3 p.m. ET
  • Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we discussed how to choose a financial advisor. Check out all the resources and tips shared: bit.ly/financial-advisor
  • Finances are very personal - hard to find trustworthy people to share intimate details with. #CreditChat Tweet by @iGrad RETWEET THIS
  • Even financial advisors should have an advisor ... doctors still have doctors, after all Tweet by @ThinkAdvisor RETWEET THIS #CreditChat
  • When do you think someone should see a financial advisor? Wednesdays | 3 p.m. ET #CreditChat
  • Its never too early to start planning - even if you can only take babysteps. Tweet by @ReadyForZero #CreditChat RETWEET THIS
  • Seeing an advisor is just like seeing a doctor: go when you are financially sick or when you need a check-up. Tweet by @EleanorBlayney #CreditChat RETWEET THIS
  • Age doesnt matter. Tweet by @IdiyaConsulting #CreditChat RETWEET THIS When you want to set yourself for success financially ...
  • The best time to see a financial advisor is yesterday. Tweet by @csmithraleigh RETWEET THIS #CreditChat
  • Time to reach out when you first begin having financial concerns. Tweet by @nfccdebtadvice RETWEET THIS #CreditChat Financial problems dont cure themseleves.
  • What questions should you ask when choosing a financial advisor? Wednesdays | 3 p.m. ET #CreditChat
  • Main question to ask when choosing a financial advisor: Tweet by @AARPMoney RETWEET THIS How are you compensated? #CreditChat
  • Ask certifications, affiliations, length of practice, expertise and fees Tweet by @iGrad RETWEET THIS #CreditChat when recruiting a financial advisor.
  • Ask for references from satisfied clients. Tweet by @MoneyCrashers RETWEET THIS #CreditChat
  • The SEC has a good list of questions to ask about advisors. Tweet by @ThinkAdvisor RETWEET THIS #CreditChat VIEW QUESTIONS
  • What types of qualifications and experiences should a financial advisor have? Wednesdays | 3 p.m. ET #CreditChat
  • A legitimate agency is always more interested in your bottom line than theirs. RETWEET THIS #CreditChat Tweet by @nfccdebtadvice
  • Not all certifications mandate that financial advice must be in clients best interest RETWEET THIS #CreditChat Tweet by @AARPMoney Ask about fiduciary duty.
  • What are red flags to watch out for when meeting a financial advisor? Wednesdays | 3 p.m. ET #CreditChat
  • RED FLAG: When financial advisor talks only about his credentials RETWEET THIS #CreditChat Tweet by @EleanorBlayney and does not inquire about your needs and wants.
  • Disorganization and being made to feel like they dont have time for me. RETWEET THIS #CreditChat Tweet by @MoneyCrashers
  • Financial Advisor Red Flags: commission only, does not disclose potential bias Tweet by @iGrad #CreditChat RETWEET THIS
  • If they state they dont/wont have a fiduciary duty to you. Run! RETWEET THIS Tweet by @WealthHike #CreditChat
  • No accreditations and not willing to be honest with someone about their finances RETWEET THIS #CreditChat Tweet by @PlutusAwards
  • Any final tips for those looking for a financial advisor? Wednesdays | 3 p.m. ET #CreditChat
  • Spend as much time choosing an advisor as you do planning a vacation! RETWEET THIS #CreditChat Tweet by @EleanorBlayney Interview at least 2 or 3
  • Join Us Every Wednesday at 3 p.m. ET. bit.ly/join-creditchat #CreditChat Wednesdays | 3 p.m. ET
  • Check Out Past Slides ...

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