What to Look for in a Financial Advisor and When You Should Work with One

What to Look for in a Financial Advisor and When You Should Work with One

Have you ever wondered how to handle distributions from IRAs? What does the future hold for interest rates, the economy and the stock market and how this could impact your financial situation? These are very common questions and concerns, and there are answers!

Some people seek the advice of a robo-advisor, which is an online, automated financial advisor. While the internet has created financial options that are great for some situations, this is not the right fit for everyone. It all comes down to value, trust and experience.

A good financial advisor is able to analyze economic trends, market conditions and interest rate changes to develop a portfolio that suits your individual financial needs. As economic conditions change a quality advisor can articulate sensible changes to your portfolio and how those changes can protect and potentially grow your hard earned money.

Benefits of working with a financial advisor infographic

How do you know you’re working with a good financial advisor?

Here are some points to keep in mind whether you’re looking for an advisor or already have one:

  • When it comes to expenses, is your financial advisor is up front and transparent with you about fees?
  • Does the advisor sell products to you because they believe it’s the best solution for you?
  • Does your financial advisor consider working with you to be a privilege? Do they want to help you achieve your goals?
  • Do they always act in your best interest?

If you answered yes to these questions, your financial advisor is likely the right fit. If you answered no, you can find a great tool to check the legitimacy of your advisor at brokercheck.finra.org. You can view potential disciplinary history, exams the advisor has passed, and more.

When should you work with a financial advisor?

Now that you know what to look for in a financial advisor, let’s discuss when may be the right time to work with one. A financial advisor can be beneficial at any point in your adult life to help set up your financial planning for success. But, as a rule of thumb, a great time to hire an advisor is when you start accumulating assets. This could be after getting your first job or once you buy a home.

More importantly, you should consider hiring a financial advisor when you head toward retirement. When you get to this point, it is critical not to make a mistake.  At this stage in your life, it’s important to conduct an expense analysis to understand your financial state, and help you understand how to manage risk and invest your money in a way that will help you experience the retirement you want.

Jason Egge is a registered representative with Securities America, Inc. This site is published for residents of the United States and is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security or product that may be referenced herein. Persons mentioned on this website may only offer services and transact business and/or respond to inquiries in states or jurisdictions in which they have been properly registered or are exempt from registration. Not all products and services referenced on this site are available in every state, jurisdiction or from every person listed. Securities offered through Securities America, Inc., member FINRA/SIPC. Advisory services offered through Securities America Advisors, Inc. Bankers Trust, BTC Financial Services, a division of Bankers Trust, and Securities America are separate companies. 

Jason Egge

Jason Egge

VP, Financial Services Manager (515) 245-2892 Email Jason

Jason Egge joined Bankers Trust in 2004 and has nearly 25 years of experience in the financial services industry. Jason partners with his clients to develop retirement strategies based on thoughtful consideration of their individual needs. He follows through with them, encouraging customers to meet regularly in a comfortable environment to review each unique portfolio, ensuring that their investments meet their changing life needs. Presently, customers have collectively invested more than $90 million through Jason. Their assets include stocks, corporate bonds, municipal bonds, government bonds, mutual funds, ETFs (Exchange Traded Funds), REITs (Real Estate Investment Trusts) and annuities.

Have the Education Center delivered right to your inbox

Subscribe to the Education Center to stay up-to-date with the latest Education Center posts on the topics that matter to you.

Form Illustration

    Select which topics you are interested in, and we’ll send new posts directly to your email inbox: *