What defines the right “wealth manager” for you?


The financial markets are ever changing. Before entrusting your money to an advisor, you should discern whether that firm has a history of helping clients through both rising and falling market environments. Simply put, this means that your advisor should always act in your best interest every time. That requirement can only be validated through years of advisory experience and a resilient investment philosophy.

The Firm: History, Experience, and Track Record

An important consideration when selecting a firm is to know how long the firm’s been around and its history. Is there a history of stability? Does a firm change its core competencies often in reaction to market conditions? What is the reputation of that firm? What is their track record? What is the firm’s focus and what are their capabilities? Make sure to double-check their credentials.

What Kind of Relationship Would You Have?

Would you have a more direct, hands-on relationship or would you have a team of advisors and contact a phone center? You should look for a firm that can offer you the level of interaction that makes you comfortable; after-all you are entrusting your money to them.

How Well Would Your Financial Needs Be Met?

Will the firm you select be able to handle the majority of your financial needs? How will you receive financial advice? Will you get written recommendations, customized for you personally and will they include any aspects of your finances beyond investing?

Independence of the Firm

Does the firm you are choosing have proprietary products they might feel obligated to recommend? Will you feel comfortable not knowing if those products are the best choice for you and your family? Would a firm independent of proprietary products better suit your interests and trust level?

Choosing a financial advisor is a very important decision, as they become your partner in planning and managing your finances throughout your life’s stages and changes. That’s why you should give it time and thought before you come to a decision. Most advisors offer a free initial consultation; take advantage of that and meet with them before choosing one.