How to Pick a Financial Advisor That’s Right for You

Selecting a financial advisor can be a process, especially given the wide range of titles, credentials, and compensation models in the industry. In this episode, co-hosts and CERTIFIED FINANCIAL PLANNER® professionals Mary Beth Storjohann and Neela Hummel outline the factors to consider when choosing an advisor who aligns with your financial goals and values.

They explore the distinctions between various advisor designations, with a focus on the importance of working with a CERTIFIED FINANCIAL PLANNER® professional. They also cover the concept of fiduciary responsibility—why it matters, and how to assess if your advisor is acting in your best interest.

Additionally, Mary Beth and Neela discuss the different ways financial advisors are compensated, including commission-based, fee-only, and hybrid models, and how those structures can influence the advice you may receive.

Whether you're beginning your search or reevaluating an existing relationship, this episode offers valuable guidance to help you make well-informed decisions for your financial life today, and into the future.

For additional resources, information, and a full transcript of the episode, visit our website. To access our podcast disclosure information, visit this page.

What You’ll Learn in this Episode:

• The distinctions between various financial advisor titles and the significance of the CFP® designation.
• The importance of choosing an advisor who is a fiduciary  who prioritizes your financial well-being.
• Different advisor compensation models like commission-based and fee-only, and their implications on advisory services.
• The questions to ask during your first meeting with a potential advisor. 

Resources Mentioned on the Show:

• How to Choose a Financial Advisor – Abacus Wealth Partners https://abacuswealth.com/how-to-choose-a-financial-advisor/
• What It Means to Work with a Fee-Only, CFP® Professional Financial Advisor - Abacus Wealth Partners  https://abacuswealth.com/why-you-should-work-with-a-cfp-fee-only-fiduciary-financial-advisor/ 
• The National Association of Personal Financial Advisors (NAPFA): https://www.napfa.org/

Stay Connected:

• Subscribe to the If Money Were Easy newsletter
• Subscribe to If Money Were Easy on YouTube
• Connect with Mary Beth on Instagram and on LinkedIn 
• Connect with Neela on Instagram and .css-j9qmi7{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-flex-direction:row;-ms-flex-direction:row;flex-direction:row;font-weight:700;margin-bottom:1rem;margin-top:2.8rem;width:100%;-webkit-box-pack:start;-ms-flex-pack:start;-webkit-justify-content:start;justify-content:start;padding-left:5rem;}@media only screen and (max-width: 599px){.css-j9qmi7{padding-left:0;-webkit-box-pack:center;-ms-flex-pack:center;-webkit-justify-content:center;justify-content:center;}}.css-j9qmi7 svg{fill:#27292D;}.css-j9qmi7 .eagfbvw0{-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;color:#27292D;}