​What you need to know BEFORE you hire a financial advisor.

A financial advisor is a broad term encompassing many different areas of knowledge and expertise. If properly used, it is a starting point to finding valuable assistance. If improperly used, however, it can lead to misleading and manipulative information and poor decision making...

Since financial advisor is more of a generic title, how do you identify the appropriate financial adviser for you? Start by identifying a person’s area of knowledge, expertise and support. I prefer doing business with people who specialize in the specific problem I want to solve.
 
A financial adviser can specialize in financial planning, investments, retirement, college education funding, debt reduction, individual stocks & bonds, municipal bonds, real estate, taxes, life insurance, disability insurance, long term care planning or property and business insurance as well as Medicare/Medicaid/Aids & Assistance planning.

Are you interested in:

1. Paying a fee to an independent financial planner to create a written financial plan only?
2. Paying a fee to an independent financial planner who also has expertise in other areas including investments, taxes, retirement and insurance and using them for these services?
3. Paying a fee to a non-independent financial planner who sells products and is not required by law to be a fiduciary throughout the planning and sales process.
4. Not paying a fee to a financial planner in exchange for investing or buying products from them?
5. Using stand alone experts for each financial service you need?

 
These questions will help narrow down who you want to include on your financial team.