6 Tips For Choosing A Financial Advisor

Are you looking for better ways to manage your finances?

You need to hire the best financial advisor for the best results.

financial advisor planning meeting

Here are some useful tips to help you find a good financial advisor.


You can always find a certified financial advisor by using referrals from trusted sources but that’s not enough. You need to check the background and qualifications of each potential candidate as well as their credentials. Contact the professional associations to find out if there are any disciplinary complaints about them.


Take a list of potential financial advisor and interview a number of them. During the interview, you need to find out whether you’re comfortable discussing your finances with the people you’re interviewing. Do they provide the exact services you’re looking for? Also, you should find out their experience, education and specialties as well as their current number of clients.

financial advisor

Additionally, you need to know how long they have been in business, their communication schedule with clients, the types of investment products/services they are registered to sell, the type of organizations that regulate them, how they get their money and if there are any disciplinary cases by the industry associations or regulators against them.

What Are Your Financial Goals And Needs?

Find an advisor who can help you meet your goals and needs. For instance, are you looking for exemplary investment advice? Look for a someone who is properly registered with the Canadian securities regulator authority. On the other hand, if you’re looking for insurance advice, find someone with a valid insurance license.


Find out if they have served clients with similar needs to yours and ask for references. Also, does the advisor work hand in hand with other experts such as insurance agents, accountants or lawyers?

Fee Comparison

How does the financial advisor expect to get paid? Ask for a few quotes from different candidates then compare them. There’s should be a clearly defined agreement and if there are any changes to the compensation during the relationship, it should be changed.


Find out how your financial advisor will help you choose the right investments. For instance, are there many recommendations or is it limited to the specific products he/she is registered to sell? Is there a larger profit from recommending on product over the other? Are there profits to be made with every purchase or sale?


3 Questions you must ask a Financial Advisor

I hope these tips give you some food for thought when choosing a financial advisor. Feel free to leave a comment below.