Working with the right financial advisor could mean retiring years earlier or sending your kids to college debt-free. Choosing the wrong one, meanwhile, could set your financial goals back by decades.
Using a search engine to look for financial advisors in your area will likely yield hundreds of options, but the task of sifting through them can seem monstrous. How do you know if glowing reviews are indicative of stellar service or from people who hired the next Bernie Madoff and simply don’t know it yet? How do you know whether one-star reviews are legitimate complaints or from a jealous competitor trying to take down the best advisor in the area?
Finding a local financial advisor doesn’t have to be difficult, but the time and attention to detail you put into your search could potentially make or break your family’s financial security. Here are our top tips for finding the best advisor for your situation.
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We are committed to protecting your experience & information. No spam calls, Zoe will only contact you to assist with your engagement.
Connect with advisors with years of experience who offer a wide range of wealth management services.
Advisor matches shared by Zoe are meticulously curated.
Why Local Still Matters
While video calls have become the norm in many situations, physically sitting across from someone helping plan your financial future can be powerful.
If you live in a large enough metropolitan area, you’ll likely find a local financial advisor with the expertise you need—without having to deal with lagging video calls or wondering if your advisor’s setup is legitimate.
Local advisors also often have established networks with area tax specialists and estate attorneys, connections that could prove invaluable for your long-term planning.
Online Advisor Matching Services
Remember the rise of dating apps? The financial world has its own matchmaking services that can help you find potential fits for your situation—no swiping required. Among the many offerings currently on the market, several reputable platforms stand out:
- Datalign Advisory. Datalign goes beyond matching you with locals and aims to match you with the best fit for your situation, preferences and goals through detailed questionnaires filled out before you’re introduced to prescreened local advisors.
- Wealthramp. This service focuses exclusively on matching you with independent, fee-only fiduciary advisors—the kind who are legally required to put your interests first.
- Harness Wealth. Harness’s advisors specialize in complex situations like startup equity (perfect if your compensation includes stock options), but are certainly capable of helping with more standard situations.
- Zoe Financial. Zoe works only with advisors who hold top-tier certifications like CFP®, CPA, or CFA. The company says it rejects 95% of the advisors who apply to work with them, so you don’t have to.
Professional Organizations: Where the Real Experts Are
The most qualified financial advisors often belong to professional organizations that maintain strict membership standards for education, professionalism and ethics. These organizations maintain their own search databases where you can find highly qualified member financial advisors locally.
Key organizations include:
- National Association of Personal Financial Advisors (NAPFA). Every member must be a fee-only fiduciary advisor
- XY Planning Network. Specializes in Generation-X and Millennial clients and requires CFP certification
- Garrett Planning Network. Advisors must be hourly-based, fee-only fiduciaries with no investment minimums (a rare combination) and either have or are studying toward a CFP or CPA with Personal Financial Specialist (PFS) credential
- Association of African American Financial Advisors (AAAA). Connects clients with Black financial advisors focused on building generational wealth
- The CFP Board. Maintains a directory of more than 100,000 certified financial planners
Consider Using Your Bank or Credit Union’s Advisor
Bank-affiliated advisors often have access to more sophisticated tools and more comprehensive resources than independent advisors can invest in. However, they might be limited to recommending their institution’s own products, even when better options exist elsewhere.
With your bank or credit union’s advisor, you’ll get access to integrated banking services with someone who can see your entire financial picture in one place. You’re likely to be with someone you trust and have possibly seen around the bank for years.
But you’ll also potentially face product limitations. For example, your advisor may only be able to sell you annuities or proprietary investment products through one company, even if they know of other options that better fit your needs at lower fees.
Bank-affiliated advisor services frequently charge fees substantially higher than their independent counterparts. What may seem like a small difference (like a 1.5% fee vs. a 0.75% fee) can add up to hundreds of thousands over your lifetime, especially if you compound that with a bank-affiliated advisor recommending investments with 2-3% fees versus an independent advisor recommending index funds with 0.05% fees that perform the same.
The Truth About Personal Referrals
We all love a good recommendation from someone we trust. But here’s the uncomfortable truth: Unless your network is full of financial professionals, those glowing reviews might say more about the advisor’s personality than their actual performance or fee structure.
When receiving referrals from friends and family, do your due diligence. Ask about their credentials, make sure they’re a fiduciary and figure out exactly how they get paid.
Hybrid Solutions: When Technology Meets Human Wisdom
Several platforms offer the best of both worlds:
- Vanguard Personal Advisor. Combines algorithmic investing with human advisors
- SoFi Automated Investing. Provides free CFP access
- Betterment. Offers flat-fee consultations or ongoing advisor access
The Virtual Alternative
Sometimes, the best advisor for you doesn’t need to be nearby. Virtual financial advisors can offer:
- Specialized expertise not available locally
- Flexible meeting times
- Lower overhead costs that may translate to lower fees
- Access to advisors across multiple time zones
Making Your Final Choice
Before committing to any advisor:
- Verify their credentials through the SEC’s Investment Adviser Search tool or FINRA’s BrokerCheck platform.
- Ask directly about their fee structure. If they hesitate to answer or lack transparency in their answer, run.
- Ensure they’re a fiduciary (this is nonnegotiable).
- Check if their expertise matches your specific needs.
- Trust your gut. If something feels off, it probably is.
Remember, choosing a financial advisor is like choosing a doctor, only for your money. Take your time, ask tough questions and don’t settle for someone who makes you feel uncomfortable or confused. Your financial future is too important for anything less than the perfect match.
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