Find a Certified Financial Planner
The financial association’s search engine allows you to search a database of certified financial planning advisors by their area of specialization, their compensation method, and any income or asset limits they may have.
CFP(R) license holders must pass a difficult exam and have three years of experience before they can use the CFP(R) designation. So, when you hire a financial advisor with the CFP(R) designation, know that you are getting someone who is not new to the profession.
Pros: This is a great way to ensure that you are hiring a certified financial advisor. After that, you can narrow your search to ensure that you find a financial advisor with the right specialty area.
Cons: None
Find an Advisor Who Works With Seniors
Boomerater provides a comprehensive list of financial planners and advisors in all geographical areas. You can search for them by your zip code.
Advisors with photos and detailed information have paid for an enhanced listing, and anyone you find on the site is interested in working with seniors. Boomerater also has several helpful articles written by the advisors listed in their directory.
Pros: You will find a complete list of all financial planning and investment management firms in your geographical area. Firms with enhanced listings are looking for new senior clients.
Cons: You will need to sift through the listings to find firms and financial advisors who offer the services and compensation structure you prefer. Boomerater does not pre-qualify the listings on your behalf.
Find a Fee-Only Financial Advisor
All members of NAPFA (the National Association of Personal Financial Advisors) are fee-only financial advisors, meaning they do not sell commission-based products. Using this search engine, you can enter your city and state to find a list of fee-only financial advisors practicing in your area.
Pros: Compared to the overall number of financial advisors, NAPFA members are often more experienced and credentialed and have more stable practices. They also must meet strict continuing education requirements, as NAPFA requires 60 hours of continuing education every two years to maintain membership.
Cons: NAPFA members may have minimum fees or asset limits. For example, some advisors may not work with clients who have a portfolio valued under $500,000 or $1,000,000.
Find Financial Advisors Who Charge Hourly
Using the Garrett Planning Network, you can enter your zip code to find a list of financial advisors who provide financial planning at an hourly rate.
Pros: Hourly planning can be a great way to gain an objective opinion about financial decisions. A fee-paid advisor can run a comprehensive financial plan or help with smaller specific projects, such as distributing a 401(k) retirement savings plan or assisting you in deciding whether to fund a Roth IRA or a traditional IRA.
Cons: If you’re looking for an ongoing relationship with a financial advisor who knows your situation inside and out, hourly planning may not be the best fit.
Find a Matched Advisor
Paladin Registry provides a wealth of educational materials that can help you find the right financial advisor for your needs. They pre-screen the advisors listed in their registry and will not allow just anyone to join their platform.
To use the service, fill out some basic information, and you will be personally matched with a few specific advisors who meet your requirements.
Pros: No need to search through multiple listings. Once you complete the online form and submit your request, your situation will be personally matched with some specific advisors. Your contact information is sent to them, and company information is sent to you.
Cons:
If you are not comfortable providing your net worth and asset information, you will find it difficult to find the right advisor for you using this engine.
Source: https://www.thebalancemoney.com/find-financial-advisor-online-2388455
Leave a Reply