How To Choose A Financial Advisor


A financial advisor is an expert that helps people reach their financial goals as soon as possible. The best candidates for expert financial managing are people who have a good, reliable, and steady income stream, but are at a loss when it comes to reaching their financial goals. When the time comes, you will know when you need to hire expert help and here’s how to choose the best advisor to handle your money and other assets:

Look Into Robo-Advisors

With technology evolving and becoming smarter over time, there are several robo-advisors specifically programmed to handle managing investments and other assets. As long as you can upload all of the financial details online, a robot will be able to offer a streamlined as well as cost-effective financial advice.

These robots are best for people who are interested in learning more about financial management but do not have enough money to hire an actual human expert on the subject matter. However, these robots are not capable of managing complicated financial situations are they are programmed to handle the most basic financial needs.

What A Human Financial Advisor Offers

There are so many advantages offered by a human advisor that a robot cannot. First of all, people believe that money matters are a private and sensitive matter, working with a human expert means you do not leave a large and potentially hackable digital footprint. Second, most people find that speaking to a human expert about their finances offers comfort and confidence with their choice.

Lastly, a human expert can provide different holistic choices that are the best for your financial goals. Which means, anytime you have a question about the path toward your goals, your advisor will be there to provide you with the explanations and answers you are looking for. Keep in mind, however, that a human advisor is significantly more expensive than a robot, but it is worth it to know that your money is good and trustworthy hands.

Don’t Forget To Do Your Research

If you are serious about achieving your financial goals in the most efficient way, hiring a human expert is the best course of action. However, before you hire the first person or company that pops up after a quick online search, you need to do more digging about their capabilities. Here’s a quick checklist to run through when researching more about a potential advisor:

Look into their investment guides and management portfolio

Check credentials like where they went to college, a possible Master’s Degree, and their licenses.

Have a look at their social media profiles if they are indeed trustworthy.

Ask about their experience in financial management and how long they have been in the industry.

Compare their rates with other advisors.

Choose Wisely

Hiring an expert to manage your finances is not an easy task. It is a lot of responsibility and money, so only hire the best out there. Take extra time to look into the credentials and reputation of a person or company you want to hire. While at the same, don’t forget that the sooner you work with an advisor, the sooner you’ll get to retire with a full bank account.
If you are considering to hire a financial advisor, contact Phillip James Financial today. We will guide you on how to invest with a purpose.