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How should I choose a Wealth Management advisor?

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If you decide to retain a wealth management advisor you�ll have a wide range of options. Investment brokers, attorneys or insurance agents sometimes offer such services, and many banks have wealth management specialists on staff as well. Given the sheer volume of choices, you should research potential wealth management advisors before making a decision. As you investigate potential advisors, ask yourself the following questions:

Does the advisor clearly possess a high level of wealth management expertise? If you�re hiring an advisor, you�re doing so at least in part because you�re uncomfortable with your own wealth management expertise, so check the advisor�s educational background and professional history � make sure your new hire has more to offer you than cookie-cutter forms that you could prepare yourself.
Are you and the advisor compatible? It�s likely that you�ll work closely with your advisor, particularly as you work together to develop your wealth management plan, so it�s very important that you�re comfortable with that business relationship.
Is the advisor willing to thoroughly review your current financial situation before offering you advice? It�s your responsibility to provide an advisor with relevant financial information. The advisor should respond with a careful analysis and proposal that addresses your specific circumstances. Avoid any advisor who implies that such an analysis is unimportant because of certain strategies that �work for all clients.�
Is the advisor willing to meet frequently with you? The creation and maintenance of a workable wealth management plan will require frequent communication between you and your advisor, so ensure that the advisor is able and willing to regularly meet or speak with you.

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