Mistakes to Avoid When Choosing a Financial Planner

Mistakes to Avoid When Choosing a Financial Planner

Hiring a financial advisor is a big decision. Financial planning is not just a one and done type of deal, it’s an ongoing relationship that will last you a lifetime. Your financial planner is someone you should feel comfortable and confident with. Here are some of the big mistakes people make when choosing a financial planner, and how you can avoid them. 


Hiring the First Financial Planner You Meet

Since financial planning is an ongoing, working relationship, it’s important that you pick the right person for you. Don’t just hire the very first financial planner you meet, shop around a little and see what the options are in your area. If you like the first one you meet, make note of that, you can always come back to them if you decide they are the best choice for you. If you choose a financial planner too quickly, you can change later down the road, but it’s best to do your research up front and select right the first time. 


Choosing a Financial Planner Just Because They Were Recommended 

Friends and family will often have recommendations on who you should use because of who they use. While recommendations and word-of-mouth can be a great way to find a financial planner, it doesn’t mean you have to choose that one. If you end up liking them then that’s great, but financial planning is a personal decision and you should choose the person right for you. 


Picking a Financial Planner You Aren’t Comfortable With 

If you feel any discomfort, uneasiness or have a lack of confidence in a financial planner that you meet, run the other way. Your money is hard earned and you should have 100 percent confidence in your financial planner to help you make the best decisions about your money. 


Hiring an Inexperienced Financial Planner

Choosing a financial planner who has little to no experience can be a big risk. It’s important to make sure the financial planner you choose is well seasoned in the finance world and will be able to share their knowledge with you. That being said, choosing someone green who works for a company with other more experienced financial planners can be an okay choice because they will have people to help them along the way should they encounter a situation they are not familiar with. 


Choosing a Financial Planner With the Wrong Specialty 

Most financial planners have something they specialize in, so it’s important to choose someone who can help you with what you need. If they specialize in investments but you’re wanting to focus on retirement, that might not be the right choice. Some financial planners do specialize in a multitude of things, and some even have enough experience to handle it all or they work for an agency that can handle it all. Asking questions and explaining exactly what you’re looking for at your first meeting will help you decide if someone has what it takes to assist you with your financial needs. 


If you’re looking for informed, dependable financial planners with long-term experience, look no further than Care Financial. Our team of highly trained professionals are ready to help you with all your financial planning needs. Whether establishing your current financial situation, identifying a course of action or drawing up a plan you can stick to, we will be with you every step of the way.