In my previous post, Do I Need a Financial Advisor, I discussed a few suggestions and scenarios where having an advisor makes sense and also when you could probably manage on your own or with a planner. If you’ve decided you want a financial advisor or planner, or you already have one, the next question is: how do you find a great one?

Two Main Types of Advisors 

These roles over the years have evolved as the markets have become more efficient and clients’ needs have become more involved. Broadly, you’ll see two main types:

1. Investment Advisor

An investment advisor’s relationship with their clients is typically tied to their selection of stocks, bonds and alternative investments to generate a return that would help their clients achieve their long term goals. They have a very narrow focus on investments only. 

2. Financial Advisor/Planner

A Financial Advisor/Planner will serve as an advisor in all areas and aspects of a client’s financial life. Budgeting, insurance planning, cash flow analysis, debt and loan assistance, generational wealth and tax planning and the list goes on.

Investments are a crucial and necessary part of your financial life. But, in my opinion, a great advisor and team will serve as both your Investment Advisor and Financial Planner.

They will manage your investments, strategize about retirement planning, discuss saving for your kids’ college education, review all your assets and discuss areas to optimize or identify various financial opportunities for you.

They will serve as your ultimate financial resource; personalized and focused on you and your future.

Here’s the key: not all advisors act as planners, and not all planners act as advisors. One manages investments, while the other doesn’t, but ideally, at a minimum, you want a planner to manage all aspects of your financial picture, even if they don’t manage the investments themselves.

What Makes Someone Who Provides Financial Advice Great?

When you’re looking for someone to help guide your money decisions, here’s what really matters:

Likeability and Trust

First and foremost, you need to like who you are currently working with or who you plan to hire. This is a relationship. A professional relationship yes,….but the lowest bar to clear when choosing a financial advisor is, do you even like this person? Would you be happy and comfortable having personal and vulnerable conversations with this person? Do you trust them and their ability to advise on and do what is best for you? You need someone you trust—and genuinely like—to guide you. Without that, the relationship won’t work.

Support System

If you’re working with a financial advisor and someone who is managing your investments, does the financial advisor have a team or institution around him/her to support you?

Responsiveness and Accessibility

Whenever a prospective client came to me and I asked them why they weren’t happy with their last advisor or accountant, without fail, it was ALWAYS a complaint about a lack of responsiveness. Financial questions don’t always happen on schedule, but your advisor should answer questions promptly and make you feel prioritized, not waiting months for a call back.

A Broad Scope of Services

If I were on the hunt for a financial advisor, I would want an individual and a team who would be able to assist me with any and all of the below options:

• Investment Management

• Debt, Loans and Mortgage Assistance

• Cash Flow Planning / Budgeting

• Retirement Planning

• Charitable Planning

• Saving for kids

• Other personal financial opportunities

• Working side by side with your other professional advisors – CPA, Attorney, etc.

Transparency

Any time you hire someone who will be guiding you and managing an aspect of your life that you aren’t an expert in, it requires a level of transparency to successfully have a healthy, trusting client and advisor relationship.

They should be forthcoming and transparent about their team, their process, their fees, recommendations, especially as it relates to you and your assets.

If you feel as though they are breezing through the information or dodging your valid questions, I suggest you push back and ask again. If you continue to not understand the suggestions, the path you are on with your assets and you do not believe anyone is taking the time to explain that to you…I’ll say it again, start looking for another advisor.

A Personal Note

I’ve worked on the #1 wealth management team in the country (according to Barron’s at the time), and I remember thinking how lucky clients were to have a team that would go to any length to protect and grow their wealth. From retirement planning to helping the next generation understand money, their dedication was unmatched.

A team of individuals that spent hours and hours on end ensuring that they were doing everything in their power to do what was best for their client. Help advise a client on how best to manage their assets, how to plan for their retirement, help talk with the next generation about wealth, pick up all the financial pieces after a death in the family or divorce, etc.

A team who answered calls and emails whenever needed. Lost sleep over the stress of making sure they were doing everything they could to make the financial life of their client better. Sometimes even caring more about a client’s financial life and future than the client did.

And although I am fully capable of managing all of the above for myself, sometimes I think….wow, it would be really nice to have one of those great advisors handling everything for me one day!

Finding the Right Fit for YOU

Not everyone needs an advisor. But if you do, take the time to interview a few. Ask your friends and family who they use and are they happy with the level of service provided to them. Do not rush into hiring someone because you feel it’s something you have to do – find the RIGHT person who fits your needs, your personality and your goals. 

Next up: Part 5 – 5 Questions to Ask a Financial Advisor Before Hiring. That’s where I’ll give you practical advice on how to confidently pick the right advisor for your financial life.

Wrapping Up the Financial Advisor Series

Over these four posts, we’ve walked through the full journey of understanding financial guidance:

What Is a Financial Advisor? – We broke down what financial advisors actually do (and what they don’t) and set the stage for understanding how they can impact your life.

Financial Advisor vs. Financial Planner vs. CPA vs. Coach – We clarified the roles, who they’re best suited for, and how each one fits into your financial picture.

Do I Really Need a Financial Advisor? – We explored when an advisor is truly necessary and when a planner—or even a DIY approach—can work just fine.

What Should I Look for in Someone Who Provides Financial Advice? – We highlighted the key traits, services, and qualities that separate the great ones from the rest.

5 Questions to Ask Before Hiring a Financial Advisor – (Coming up!) The questions that will help you confidently choose the right advisor—or planner—for your life and goals.

The big takeaway? You don’t need just someone moving your money. You need someone who sees the full picture, helps you plan, guides you, and coordinates all the pieces of your financial life.

And remember—financial guidance is personal. Not everyone needs an advisor, but most people benefit from a great planner. The right person will simplify your life, give you clarity, and help you take control of your financial future.4

If you’re ready to see what that could look like for you, schedule a 1:1 with me. I can help map out your financial picture, identify opportunities, and show you exactly how the right guidance—tailored to you—can make a real impact.