Choosing a credible financial advisor begins with checking credentials. Not all who hold themselves out as financial advisors are accredited, meaning a third party hasn’t deemed that advisor competent in financial topics. Working with accredited advisors over non-credentialed advisors is like seeing a doctor who graduated medical school versus a person who intensely watches medical shows on television: they might know a thing or two about medicine, but do you really trust their medical knowledge?
More Tools Available-
For some ill-equipped financial advisors, you are a square peg; their one-size-fits-all financial plans are the round holes. When it comes to financial planning, independent financial advisors have more tools in their tool belts. They have the ability to create a tailor-made plan that fits your financial goals, not the other way around.
Accredited advisors garner more tools for their tool belts, especially in the areas which they specialize in, such as retirement or estate planning. They are better equipped to offer solutions for clients, simply because of their deep knowledge base and experience. These advisors just put the round peg into the round hole; providing just the right amount of options for a client’s financial goals.
Independent Really Means Independent-
Independent advisors, meaning those who don’t work within a larger business: bank, big advising firms, insurance salesmen, and discount brokers to name a few, have a much broader spectrum of financial products, or tools, to offer clients. Independent advisors can better whittle a hole’s shape to fit a client’s goals.
Within the sea of independent advisors, be sure to ask a final question: do you act as a fiduciary? This helps navigate between the legitimate independent advisors and those who just call themselves advisors. Fiduciary means working in the best interests of the client. A legitimate advisor acts as a fiduciary, offering advisory services through a Registered Investment Advisor (RIA) as an Investment Advisor Representative (IAR). These advisors can become members of agencies such as the Financial Industry Regulatory Authority (FINRA) and The National Association of Personal Financial Advisors (NAPFA) which maintain membership regulations such as demonstrating a competence in their areas of expertise, taking a fiduciary oath, and abiding to rules that protect investors. Members who break rules are fined and disciplined accordingly. Being members of these agencies can add a level of comfort for both the advisor and his or her clients.
When it comes to your company’s retirement plan being a square peg shoved into a round hole degrades your financial goals. Choose an accredited independent financial advisor with the tools to work that round hole into a comfortable fit for your square peg. A good advisor presents options central to your goals, not the other way around.
Whether you have a dollar or a million dollars in your retirement account you will be able to explore the value of a legitimate and accredited advisor simply by visiting the Self Directed Brokerage Account advisor contact site. From this site you can begin to take advantage of the features of your retirement plan. If you wish you can also download a fact finder sheet that can be used to create your personal retirement financial plan.
Securities and advisory services offered through Independent Financial Group, LLC (IFG). Member FINRA/SIPC. Symphony Financial and IFG are not affiliated.
To learn more about Rick Willoughby, view his Paladin Registry research report.