Retirement Hacks: Finding a financial adviser is like dating — you don’t need to stick with the first one 

by | Aug 6, 2023 | Stock Market

Just as in dating, the first financial adviser isn’t always “the one” — when looking for a professional, begin by talking to a few.  Retirement Tip of the Week: Do your homework before working with a financial adviser, and make sure you both feel as though you’re each a good fit for the other. Take advantage of search engines specifically designed to find advisers.

Advisers can easily become one of the most important professional relationships a person has. “Selecting the right financial planner is a very important decision,” said James Lee, a certified financial planner and president of the Financial Planning Association. “Ideally, it is a long-term relationship and that relationship is built on trust and confidence.” Know the type of adviser you’ll be working with first. Not all financial advisers are the same. Advisers fall under multiple designations and, as a result, have different specialties, experiences and rules to follow.  See: How to choose a financial adviser: Here are the 6 biggest factors to consider One of the most popular and well-known designations in the financial planning industry is the Certified Financial Planner, awarded by the CFP Board. These advisers are required to act as fiduciaries, meaning clients’ best interests supersede their own. Registered Investment Advisers (or RIAs) are also fiduciaries, legally bound to these standards because they are registered with the Securities and Exchange Commission or their states.  Advisers may also hold certifications in specific arenas, such as retirement, divorce or investments. Many advisory firms may have relationships with Cert …

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