How To Find a Good Financial Advisor?

How To Find a Good Financial Advisor?

Having the wrong person manage your business - or personal finances - can and does end in disaster. A study by a US bank finds that a staggering 82% of business failures can be traced to poor cash flow management. 

This is where the value of a top-notch financial advisor comes into play. But the real question is: how do you find the right one?

We’ve got answers. As a remote staffing firm with a track record of finding outsource help, we know exactly what it takes go find a good financial advisor. In this article, we will take you through the process of finding one who’s a perfect fit for you.

Financial Advisor: What It Is and How To Choose the Right One

When it comes to managing your finances, seeking the help of a financial advisor can be a smart move. 52% of adults in the US said that money harms their mental health, causing what we call “financial stress.”

A financial advisor is a professional who can help you resolve your “financial stress.” They are experts in handling money matters and financial planning services. It can be investment management, retirement planning, estate planning, etc.

Here’s how you can choose a financial advisor:

Step 1: Identify your financial needs

Before you start looking for a financial advisor, identify your goals. 

Do you need help with retirement planning? Are you looking to invest in the stock market? Do you want expert advice on estate planning? 

Once you know what you need help with, you can look for a financial advisor specializing in that area.

Step 2: Understand the different types of financial advisors

There are several types of financial advisors, and it's essential to understand their differences. 

Some financial advisors work on a commission basis, while others charge a flat fee. Some are legally required to act in your best interest, while others are not.

So, before hiring a finance expert to guide you, know what you need help with. This way, you can create an accurate job description to help with your search.

Step 3: Review the range of options for financial advisors

Once you know what type of financial advisor you need, narrowing down your list of candidates will be easier. From large financial firms to independent financial advisors, take the time to review your choices and find an expert who you feel comfortable working with.

Step 4: Consider how much you can afford to pay

Financial advisors charge different fees for their services, and it's important to consider how much you can afford to pay. Some financial advisors charge a flat fee, while others charge a percentage of your assets under management. 

But if you’re working on a budget, you can hire through a remote staffing firm like MultiplyMii. We can connect you with Filipino finance experts and allow you to save up to 76%.

Ensure you understand the fee structure before working with a financial advisor.

Step 5: Vet the financial advisor's background

Before hiring a financial advisor, vetting their background is important. Check their credentials and make sure they are licensed to provide financial advice. 

You can also check their disciplinary history with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) for added measures.

Or you can take the easier route: teaming up with a remote staffing company like MultiplyMii. We can help you find the right person for the job with our tried and tested recruitment process. Let us handle the sourcing, vetting, and up until onboarding!

Consider What Financial Services You Need

When searching for a financial advisor, consider what services you need. Different advisors specialize in other areas, so finding one to meet your needs is critical. 

Here are some common services financial advisors offer:

Investment management

Need help managing your investments? You need a financial advisor who specializes in investment management. 

A registered investment advisor can help you create a portfolio of investments that aligns with your financial goals and risk tolerance. They can also provide ongoing management of your investments to ensure they perform well.


Need help with creating and sticking to a budget? Get a financial advisor to create a budget for your lifestyle and financial goals. They can give you sound advice on reducing expenses and saving money.

Debt management

If you have debt, a financial advisor can help you devise a plan to pay it off. They can advise on which to pay off first and how to negotiate with creditors. They can also help you create a budget that pays off your debt while covering other expenses.

Cash flow analysis

A financial advisor can help you analyze your cash flow to ensure you make the most of your money. They can advise on how to increase your income and reduce expenses. They can also help you create a plan to save more money for the future.

Risk management and analysis

If you're concerned about risk, a financial advisor can help you analyze your risk tolerance and create a management plan. 

Financial advisors know which investments best suit your risk tolerance and financial goals. They can also help you create a plan to protect your assets during an unexpected event.

Tax planning

If you need help with tax planning, a financial advisor can advise you on reducing your tax liability. They can help you take advantage of tax deductions and credits and which investments are most tax-efficient. They can also create a plan to minimize your tax liability in the future.

When looking for a financial advisor, find one that can provide the specific services you need. This way, you find an advisor who can help you achieve your financial goals.

What To Look For in a Financial Advisor?

You want to make sure you find someone you trust with your finances.

Here are key things to look for in a financial advisor:

Acts in your best financial interest

Hire a financial advisor that can put your needs above their own. As much as possible, get someone who sees your wins as their wins, too!

Note that some advisors are fiduciaries, which means they are legally obligated to act in their client’s best interest. The best way to know if they are fiduciaries is to ask them. As an added measure, ask if they are willing to sign a fiduciary advisor’s oath.

Possesses the right credentials

Look for an advisor with a Certified Financial Planner (CFP) designation. This certification proves they have completed a rigorous course of study and passed a comprehensive exam, making them well-equipped to assist with your finances.

Has deep analytical skills

A good financial advisor should have excellent analytical skills. They should be able to analyze your financial situation and develop a plan tailored to your needs. 

Look for an advisor who has experience in financial planning and wealth management. They should be able to explain complex financial concepts in a way that is easy for you to understand.

Enjoys financial planning and wealth management

Finally, you want an advisor who is passionate about what they do and is committed to helping you achieve your financial goals. 

You want an advisor who takes the time to get to know you and your financial situation. They should be willing to work with you to create a plan tailored to your needs.

By keeping these key things in mind, you can find a financial advisor to help you achieve your financial goals and ensure efficient management of your money and resources. 

Ways to Find an Efficient Financial Advisor

When finding a good financial advisor, you can look at several places. 

Here are some of the most effective ways to find a financial advisor that suits your needs.

Partner with a remote staffing company

One of the most effective ways to find a financial advisor is to partner with a remote staffing company like MultiplyMii. We can help you find a financial advisor that suits your needs and budget. We can also help you manage your financial advisor remotely.

Seek recommendations

Another great way to find a financial advisor is to seek recommendations from friends, family members, or colleagues. Ask them if they have worked with a financial advisor and if they would recommend them. You can also ask for recommendations from trusted professionals, such as your accountant or lawyer.

Online platforms

Finally, you can also find financial advisors on online platforms. Some platforms allow you to search for financial advisors based on location, budget, and needs. They also provide reviews and ratings from other clients, which can help you make an informed decision.

Find a Financial Advisor and Achieve Your Financial Goals

Secure a stable financial future with the guidance of a financial advisor!

Work with finance experts who can take the reins in managing your finances through MultiplyMii

Our remote staffing company has helped over 250 clients find and hire their ideal candidates for years.

So, if you want to lighten your workload and focus on what matters most, we can help!

Trust us, embrace the journey, and let MultiplyMii be your ally in finding experts who can contribute to your growth and success.

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