How to Find a Financial Advisor You Can Trust

Deciding to work with a financial advisor may be one of the most important decisions you make for yourself and your loved ones. But how do you find the right professional to help you address your unique financial planning needs?

Financial Services Credentials

If you are seeking financial advice, it’s important to know how to identify qualified financial planning professionals and which ones agree to abide by a Code of Ethics.

The Certified Financial Planner Board of Standards, Inc. website has a list of financial services credentials, the organizations that oversee them, along with information about the educational, examination, and ethical requirements candidates must have for each designation.

The CFP Board also has a page where you can find a financial planner in your area. You can search for an advisor at the CFP Board’s site (http://www.cfp.net/search) or on other websites, such as the Financial Planning Association (www.fpanet.org), National Association of Personal Financial Advisors (www.napfa.org), American Institute of Certified Public Accountants-Personal Financial Planning Division (pfp.aicpa.org) or the Society of Financial Service Professionals (www.financialpro.org).

Referrals

Another way to find a financial advisor you can trust is by asking your friends, business associates, or other professional advisors for a recommendation. Find out if the advisor offers a free initial consultation. If so, pick up the phone and make an appointment. This is a great way to find an advisor who will be able to help you address your financial planning needs. During your meeting, you can also ask questions about the advisor’s background and key areas of specialization.