Where Can I Get Personal Financial Advice?
Once you make the decision that you want personal financial advice (a wise decision which can set you ahead of the pack when it comes to getting all the things you want out of life – such as a house, big vacations and an early retirement), the next question invariably becomes this: where can I get personal financial advice? Finding the right personal financial advisor isn't always easy, but that doesn't mean you should struggle too much! Selecting an advisor can be a very positive experience.
Keep in Mind
In your search for a personal financial advisor, you can cast a wide net. They often are seeking out clients (meaning they want you). Simply see what's available in your area (or online, if you are comfortable with that – not all people are). Set up meetings and free consultations if they provide them. When you do meet with them, ask them about their education and experience. They should feel comfortable discussing these things openly. Also pay attention to how well you interact with them; there are many personal financial advisors, so you have the freedom to select one with whom you are able to get along well and feel comfortable trusting to guide your savings and investments.
Some Methods
Consider using word of mouth as a way to find a good advisor. Ask your friends and neighbors who they might recommend. This can help you narrow down your search to someone with a proven track record you can trust. Just be aware that if things go bad with an advisor, it could cause tension in the friendship.
Attend classes or seminars about personal finance. This has an advantage because you can learn something about finance and money management while at the same time getting an idea of what the lecturer is like. If you like their style and general advice, consider asking if they work as a personal financial advisor as well (many do) and are looking for new clients. Even if they say no, you have still gained valuable knowledge that can tide you over until you find an advisor that is available.
Search online for advisors in your community. One notable advantage is that many of those doling out financial advice for a living have their own website these days. That means you can get a glimpse at their education, style and experience without even having to talk to them. While you should never make your selection based entirely on a webpage, it can help you narrow your search considerably. You should still meet with a potential advisor before actually agreeing to work with them (after all, anyone can create a webpage these days). If you're not 100% sure about a particular candidate, just ask for some references.
Ask your employer's human resources department. Many people may not know that their employer or their insurance provider can sometimes provide a free (or subsidized) personal financial advisor. The only way to know is to ask.