As we get older, our money needs change — we need to pay off college loans, we're applying for our first mortgage, we're refinancing, we're paying for our children's college, we're planning for retirement. It often helps to be joined in life's journey by a — someone who knows the latest financial rules and can advise us today and help us with our future financial needs.
- References. Ask the advisor for names and numbers of current clients who can talk with you about their experiences.
- Compensation. How is the advisor's fee calculated? Some examples are fee only; commission from securities, insurance or other products clients buy; and hourly rate or fee offset, which means charging a flat fee against which commissions are offset.
- Service types. Financial advisors provide a wide range of services, including budgeting and management, setting goals, insurance and product needs, and retirement planning. Be sure to match your needs with the advisor's expertise.
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