How Can I Find the Right Financial Advisor?

financial advisor talking with clients

If you want to expand your financial portfolio and need a financial advisor to help you, it’s vital to ensure you choose the right person. While you have several choices for a financial advisor, you should know that many of them have reports of wrongdoing in the past.

Choosing the right financial advisor can safeguard you from losing money that you have worked so hard to earn over the years. The more you know about what to look for, the more prepared you feel about making the right decision for your needs.

Here are four ways you can choose the right financial advisor:

  • Know the different types of financial advisors
  • Know your needs
  • Know the fees involved
  • Know how to find reports of wrongdoings

Call our firm today at (239) 319-4434 if a financial advisor has deliberately cost you money.

Know the Different Types of Financial Advisors

Financial advisors come in many different forms. For instance, you have the traditional financial advisors with who you speak personally about your finances. These financial advisors can be accountants, stockbrokers, investment advisors, and more. They provide you with a personalized experience.

You may also encounter online financial advisors or robo-advisors. While there are benefits to each of them, you should know which one works best for you. Remember, certain financial advisors specialize in specific investments, and you wouldn’t want to hire someone who can’t help you with your intentions.

Know Your Needs

Make sure you have a plan for your financial portfolio. The objective is to make more money, but how would you like to do that? Do you want to earn money over a long period of time through low-risk investments? Do you want to try and make money fast with higher risks? The type of investment you want to make can play a role in who you choose as your financial advisor.

It helps to choose a financial advisor who can meet those goals. Some financial advisors have more experience with specific types of investments. Inexperience with investment types could lead to lost money.

Know the Fees Involved

Make sure you have a clear understanding of the financial advisors’ fees. If someone is charging you too much when compared to other financial advisors, you may choose to avoid them. Overcharging isn’t necessarily a scam, but it can significantly impact your decision.

Know How to Find Reports of Wrongdoings

One of the most important things you can do is check to see if the financial advisor you’re considering has ever been reported for wrongdoing. Unfortunately, several advisors participate in scams and schemes that result in their clients losing significant amounts of money. Because of this possibility, you should be sure to check the broker before doing anything.

The FINRA broker check is a good way to determine if someone is honest and ethical. Financial advisors on the FINRA broker check with reports should be avoided, especially if they have numerous reports in their name.

At Vernon Litigation Group, we encourage you to choose the right financial advisor for all of your needs. If something goes wrong and you lose money, it’s vital to understand your rights to hold the financial advisor accountable for their dishonesty or unethical practices.

Our Naples financial advisor litigation lawyers work with you if you lose money because of someone else’s actions. Trust that we will work to put your needs first and help you pursue the justice you deserve. We aim to safeguard you throughout the process and hold financial advisors accountable when they try to take advantage of someone else’s vulnerability.

Call our firm today at (239) 319-4434 to discuss your options.

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