Do You Need A Financial Advisor?

Do You Need A Financial Advisor?

Learn what financial advisory services you need.

  • Do I have funds that are set aside for the future?

    • If yes, are you comfortable that you can capably manage these funds?

      • If yes, thank you for visiting our website. We would appreciate it if you would share our website with 5 others.
      • If no or don’t know, you should work with an advisor who has expertise in managing investments. Please continue with this questionnaire to learn if your advisor should have additional skills.
    • If no or don’t know, you might explore the following resources on How to Start Investing:
  • Do I often have other personal financial questions?

    Examples of such questions include:-Should I buy long-term care insurance?
    -What is the best way to save for my child’s education?
    -When can I retire?
    -Should I lease or own my car?
    -How much of a mortgage can I afford?
    -What should be included in my estate plan?
    -What is the best charitable giving tax strategy, given my circumstances?
    -Or perhaps you have other financial-planning questions.

    • If yes, your financial advisor should offer financial planning services.
    • If no, you do not need financial planning services.
    • If don’t know, you may or may not need financial planning services.
  • Do I have financial questions mostly concerning taxes or sophisticated tax strategies?

    • If yes, your financial advisor should be a tax planning expert: a Certified Public Accountant (CPA), or an advisor with special training in taxation.
    • If no or don’t know, your financial advisor should at least have initial and on-going training in taxation.
  • If you answered Yes to #1 and #2 above, your financial advisor should offer BOTH investment advisory and financial planning services.
  • If you answered Yes to #1 only, your advisor should at least offer investment advisory services.
  • If you answered Yes to #2 only, your advisor should at least offer financial planning services.
  • If you answered Yes to #3 as well, you may wish to locate an advisor with extensive training in taxation.
The Institute for the Fiduciary Standard offers a list of financial advisors who affirm (publicly and in regulatory filings) their compliance with The Institute’s Best Practices for Fiduciary Advisors. You can find the Best Practices Advisors Registry here.