Thanks to steady technological advances, financial advisors now come in all different shapes and sizes. Gone is the stereotypical besuited man behind a mahogany desk. Now the options range from faceless but increasingly popular “robo” advisors to your friendly neighborhood independent planner, and everything in between.
Despite this smorgasbord of choice, it can still be hard for people to figure out what, if anything, their advisor does that’s better than the alternative. There are the obvious market benchmarks that can be used as a measuring stick. But beyond the cold financial figures lies the most important question: How do you know if your advisor is doing their job properly and is he or she the right fit for you and your family?
There’s no one right answer for everyone. But there are seven key traits that most curious new, or newly searching, clients should look for.