So you have come to the realization that you need some help with your finances, and have an appointment to sit down with a financial planner. Perhaps you are going through a life transition and need some professional advice, or maybe your situation has gotten more complicated and you have less time to address the key issues of your financial health. Regardless of the motivation, there are several things to consider when hiring a planner.
What To Consider:
You should undoubtedly consider the person/firm’s credentials, experience, compensation, and planning/investment philosophy. However, the most important factor is your comfort level, and eventually, trust in the planner. This gets established right from the start and will be key to the relationship. Most individuals and planners are looking for a long-term relationship, and trust is paramount for the success of any relationship. Be sure to consider personal connection and fit as key components in your decision.
In 2014, Forbes put out a nice piece on ways to prepare for the first meeting with a financial planner. Five years later, and the article still resonates. I encourage you to check out the full article.
One additional thought about preparing for your first meeting – relax. A lot of people feel a high level of anxiety when meeting with a financial planner. This is often driven by the fear having to pull back the curtains of their financial life and share some things that they may not be proud of or show some vulnerability due to a perceived lack of knowledge.
I can assure you that we have seen all kinds of situations and people that may not have made the best financial decisions in the past. Many are almost undoubtedly to be more dramatic and crazy than yours.
Good financial planners are not interested in judging you for your past mistakes. Instead, they are interested in helping you move forward and be successful.
Lucas Bucl, CFP®, is a Principal, and Director of Investment Management at Aspyre Wealth Partners. For help with your specific situation contact Lucas Bucl, at LBucl@aspyrewealth.com (913) 345-1881 or visit our website at AspyreWealth.com. We help successful people, Master What’s Next® – whatever phase of life they are in.