6 Things Not to Do When Selecting a Financial Advisor

Ready to know 6 things not to do when selecting a financial advisor?   Sponsored   [Image]( 6 Things Not To Do When Selecting a Financial Advisor [Take Retirement Quiz]( Get matched with up to three vetted financial advisors who serve your area SPONSORED BY SMARTASSET [Image]( Hiring a financial advisor is one of those pivotal life decisions - a fork in the road that can dictate the path of your financial future for decades to come. A study from Northwestern Mutual of the attitudes and behaviors of American adults toward money found that 71% of them felt their financial planning needed improvement, while only 29% work with a financial advisor.¹ The value of [working with a financial advisor]( varies by person and advisors are legally prohibited from promising returns, but research suggests people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.² While hiring a financial advisor can help you maximize your retirement nest-egg, there are some [potential pitfalls]( you should be aware of before you choose who to hire. SmartAsset's [no-cost tool]( can help you avoid some of the common mistakes in looking for an advisor. Try the short questionnaire to get matched with up to 3 vetted financial advisors serving your area, each legally bound to work in your best interest. You can compare you matches and choose the one you feel is best for you. It's never too late to plan to work toward a comfortable retirement. Ready to know 6 things not to do when selecting a financial advisor? [See the list]( Try SmartAsset's Financial Advisor Matching Tool Get retirement ready. Try this no-cost tool to get matched with up to 3 vetted financial advisors serving your area. [Get Started]( Sources: 1. ["Planning and Progress", Northwestern Mutual (2022)]( 2. ["Journal of Retirement Study Winter" (2020).]( The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the [Journal of Retirement study.](   Unless otherwise indicated, information is as of 5/4/2023. SmartAsset has no obligation to update any content in this article. This article may potentially include a firm or firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals or cost per engagement. SmartAsset is not a client of the aforementioned firms. SmartAsset did not receive compensation for including any of the firms in the aforementioned article. This article contains links to SmartAsset's financial advisor matching tool, which may or may not match you with the firms mentioned in this profile. The matching tool does not include all available advisors and firms and matches based on specific criteria (investable assets, geography, and willingness to work with a remote advisor). This is not an offer to buy or sell any security or interest. All investing involves risk, including loss of principal. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). There are no guarantees that working with an adviser will yield positive returns. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset's services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any user's account by an Adviser or provide advice regarding specific investments. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. SmartAsset.com is not intended to provide legal advice, tax advice, accounting advice or financial advice (Other than referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States). SmartAsset is not a financial planner, broker or tax adviser. The Service is intended only to assist you in your understanding of financial organization and decision-making and is broad in scope. Your personal financial situation is unique, and any information and investing strategies obtained through SmartAsset.com may not be appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your individual circumstances. Sources: ["Journal of Retirement Study Winter" (2020)](. The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the [Journal of Retirement study](. This email is a paid advertisement. It is for a product and/or service that is not offered, recommended or endorsed by TradersPledge and neither the company nor its affiliates bear responsibility or control over the content of the advertisement and the product or service offered. There is a very high degree of risk involved in trading. Past performance is not indicative of future results. The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. TradersPledge and all individuals affiliated with this site assume no responsibility for your trading and investment results. 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