what to know before hiring a financial adviser

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#CreditChat Wednesdays | 3 p.m. ET What to Know Before Hiring a Financial Adviser Featuring Certified Financial Planners: @R_Alan_Moore, @KatieYRL, @WrenneFinancial, @Marybstorj and @Sophiabera

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Page 1: What to Know Before Hiring a Financial Adviser

#CreditChatWednesdays | 3 p.m. ET

What to Know Before Hiring a Financial Adviser Featuring Certified Financial Planners: @R_Alan_Moore, @KatieYRL, @WrenneFinancial, @Marybstorj and @Sophiabera

Page 2: What to Know Before Hiring a Financial Adviser

Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we talked about steps to take before hiring a financial planner.“

Check Out All the Tweets and Resources:

ex.pn/adviser

Page 3: What to Know Before Hiring a Financial Adviser

Wednesdays | 3 p.m. ET

Why have many people never seen a financial adviser?

#CreditChat

Page 4: What to Know Before Hiring a Financial Adviser

Many people never see financial advisers because of lack of awareness, cost, or apathy toward financial matters.

Tweet by @GraceKvantas

#CreditChat

Page 5: What to Know Before Hiring a Financial Adviser

Tweet by @Sophiabera

to work with a financial planner.Many people don’t think they have enough money

#CreditChat

Page 6: What to Know Before Hiring a Financial Adviser

Working with an advisor also means being ready for change and exposing bad habits, which can be a tough pill to swallow.

Tweet by @Marybstorj

#CreditChat

Page 7: What to Know Before Hiring a Financial Adviser

Wednesdays | 3 p.m. ET

Why is seeing a financial counselor helpful? When is a good time?

#CreditChat

Page 8: What to Know Before Hiring a Financial Adviser

While most people wait until there’s a problem, you can really go at any time. In fact, it’s better to go BEFORE trouble.

Tweet by @LeslieHTayneEsq

#CreditChat

Page 9: What to Know Before Hiring a Financial Adviser

People don’t plan to fail, they fail to plan! A planner will help you get it done. Tweet by @WrenneFinancial

#CreditChat

Page 10: What to Know Before Hiring a Financial Adviser

Any time is good to meet with a planner -- Facing life transitions, tackling debt, figuring out employee benefits, goal planning.

Tweet by @Marybstorj

#CreditChat

Page 11: What to Know Before Hiring a Financial Adviser

Wednesdays | 3 p.m. ET

What types of qualifications and experience should an adviser have?

#CreditChat

Page 12: What to Know Before Hiring a Financial Adviser

Look for a financial adviser who is a certified financial planner (CFP). They’re licensed and regulated, plus take mandatory classes on

different aspects of financial planning. Source: The Wall Street Journal

#CreditChat

Page 13: What to Know Before Hiring a Financial Adviser

Look for an advisor who specializes in clients like you. Tweet by @ErikOKlumpp

#CreditChat

Page 14: What to Know Before Hiring a Financial Adviser

Wednesdays | 3 p.m. ET

What types of financial advisers should you avoid? Any warning signs?

#CreditChat

Page 15: What to Know Before Hiring a Financial Adviser

If you feel like you’re being pushed, sold or talked down to,run away and find a better advisor. Tweet by @KatieYRL

#CreditChat

Page 16: What to Know Before Hiring a Financial Adviser

Avoid any advisor who does not have a clear, transparent fee structure and who will not work as your fiduciary.

Tweet by @XYPlanning

#CreditChat

Page 17: What to Know Before Hiring a Financial Adviser

Wednesdays | 3 p.m. ET

What services do financial planners offer?

#CreditChat

Page 18: What to Know Before Hiring a Financial Adviser

Organization - Accountability - Objectivity - Proactivity - Education - Partnership

Tweet by @WrenneFinancial

#CreditChat

Page 19: What to Know Before Hiring a Financial Adviser

Budgeting help, debt repayment plans, maximizing companybenefits, choosing 401(k) investments, goal setting and more! Tweet by @Sophiabera

#CreditChat

Page 20: What to Know Before Hiring a Financial Adviser

Wednesdays | 3 p.m. ET

How are financial advisers compensated for providing services?

#CreditChat

Page 21: What to Know Before Hiring a Financial Adviser

Good financial advisors should only get paid by you (the client) directly through fees. We call that being fee-only.

Tweet by @R_Alan_Moore

#CreditChat

Page 22: What to Know Before Hiring a Financial Adviser

Know the difference between “fee-only” and “fee-based”. Fee-onlyis paid by YOU. Fee-based can also receive outside commissions.

Tweet by @ErikOKlumpp

#CreditChat

Page 23: What to Know Before Hiring a Financial Adviser

Wednesdays | 3 p.m. ET

How can you make sure a financial planner is a fiduciary?

#CreditChat

Page 24: What to Know Before Hiring a Financial Adviser

Questions to ask your financial adviser:

- Are you acting under fiduciary standard?- Can you put that in writing?

Source: Bankrate

#CreditChat

Page 25: What to Know Before Hiring a Financial Adviser

Ask a planner to sign a fiduciary oath. All #XYNP

Tweet by @XYPlanning

advisors have taken an oath.

#CreditChat

Page 26: What to Know Before Hiring a Financial Adviser

Wednesdays | 3 p.m. ET

How often does a person need to see a financial adviser?

#CreditChat

Page 27: What to Know Before Hiring a Financial Adviser

This usually depends on the person, but I think quarterly or semi-annually is sufficient. Tweet by @LeslieHTayneEsq

#CreditChat

Page 28: What to Know Before Hiring a Financial Adviser

Wednesdays | 3 p.m. ET

Any final tips on how to find a great financial planner?

#CreditChat

Page 29: What to Know Before Hiring a Financial Adviser

Interview a few different people. There are many great planners out there, but it often comes down to a personality fit.

Tweet by @Sophiabera

#CreditChat

Page 30: What to Know Before Hiring a Financial Adviser

Working with a Financial Planner is a relationship. Approach the search like you would a partner.

Tweet by @ErikOKlumpp

#CreditChat

Page 31: What to Know Before Hiring a Financial Adviser

#CreditChatWednesdays | 3 p.m. ET

Check out all the resources and tips shared:

ex.pn/adviser

Page 32: What to Know Before Hiring a Financial Adviser

#CreditChatWednesdays | 3 p.m. ET

Join Us Every Wednesday at 3 p.m. ET.

bit.ly/join-creditchat