How to Find the Right Financial Advisor

calculator and paperwork on a desk

If you think it’s time for a little additional assistance managing your finances, a financial advisor can help you. Choosing the right advisor for your needs is crucial because you don’t want to end up paying for services you don’t need or working with someone who doesn’t understand your long-term financial goals.

Are you ready to find a financial advisor? Check out this Cash Factory USA blog for top tips to match you up with the right advisor for you.

1. Types of Financial Advisors

There are a few different kinds of financial advisors that could help you. Some of the major options include robo-advisors, online financial planning services, and traditional advisors.


There are a few digital services that offer just the basics for investment management. You get simplified answers to financial advisor questions and it recommends courses of action based off of computer algorithms that assess your goals and risk tolerance. These advisors are ideal for those who want low-cost help with basic financial goals (like retirement), but can’t afford in-depth advice.

Online Planning Services

When you’re trying to find a financial advisor that’s the right balance between comprehensive and affordable, this might be the best option. You can consult with a team for more intensive questions and you enjoy access to a dedicated advisor that will help you create a more personalized financial plan. These are also more expensive than robo-advisors.

In-Person Advisors

financial advisor reading the paper

To work with financial advisors in person, you often need to have a minimum balance of a quarter of a million dollars to even consider hiring one. You only want to find an in-person financial advisor if you need highly specialized services to help you with complex investment opportunities. If you aren’t even sure what your basic money goals are, you don’t need to be looking at a personal advisor just yet.

2. Q & A

On your quest to find a financial advisor, you can weed through the options by asking the right questions. Here are some financial advisor questions we recommend you ask:

  • Are you a fiduciary?
  • How do you get paid?
  • What will my total costs be?
  • What are your qualifications?
  • How will our relationship work?
  • What is your investment philosophy?
  • How will taxes affect my investments?

If you don’t like their answers to any of these questions, or you feel that their goals don’t align with yours, move on to a different advisor.

3. Check Their Qualifications

To ensure you’re working with an experienced, honest financial advisor, check their qualifications. You want to look into the record of any company or person that could be your future advisor. One way to research their expertise is with a firm’s Form ADV. This form outlines what specific fees you will be charged, any past disciplinary actions against the person or company, and any conflicts of interest.

4. Consider the Costs

managing your finances online

As you try to find a financial advisor, consider their minimum investment requirements as well as the fees they charge for their services. Make sure you get all the facts and figures upfront to discover whether you’re even eligible to work with specific advisors. You also don’t want to be blindsided by any hidden costs for investing with a specific firm.

Many of your basic questions could be answered by a quick online search, so make sure you actually need a financial advisor before starting your search for one!

Find answers to more of your basic financial questions about 401(k)s, budgeting, and student loans on our blog!