Choosing a financial advisor is a decision that will impact future financial goals. The right financial advisor will have the knowledge and expertise to guide you towards creating a plan that will allow you to live well now and in retirement. The wrong financial advisor won’t prioritize your financial well-being and may negatively affect your progress. Knowing the difference is simple.

  1. Fiduciary Financial Advisor is legally and ethically bound to act in the best interests of his or her client. A financial advisor is not.
  2. Many financial advisors work on commission. At Alloy Wealth Management, our fiduciaries do not.
  3. Advisors who guarantee returns are a red flag. We are honest and upfront when we say market downturns are inevitable. Yet we educate and enable clients to put together a balanced investment portfolio to weather market downturns. 
  4. A financial advisor who has one investment strategy is not client focused. Alloy Wealth fiduciaries get to know a client personally before guiding them in their investment decisions.
  5. Avoid financial advisors who care only about one aspect of finance. Fiduciaries consider a client’s financial life. Everything matters. Retirement planninginvestment management, tax planning,insurance, and estate planning

Before choosing a fiduciary financial advisor, do your research and schedule interviews. Evaluate their credentials and level of experience and consider their personality and communication skills in your decision-making process. The fiduciary that you select will be someone you’ll speak with regularly. If you are currently working with a financial advisor who does not respond to your calls or emails, that’s a reason to consider moving on. If they’re not communicating with you, what are they doing for you?