Before hiring a financial advisor, ask a few questions to get to know them and better understand how they can help you. Interview or consult with a few advisors to ensure you're finding one who will partner with you to provide you the best chance of success.
The qualifications of financial advisors are generally based on specialties they pursue. Someone who helps people with debt will likely have different qualifications than someone who helps people invest. Talk to potential advisors about their qualifications for helping you.
Some financial advisors have areas of knowledge or services they specialize in. Ask this question and do some research to find an advisor whose specialties and experience align with your financial goals.
Some advisors specialize in helping clients in specific life stages, age groups or other demographics. You could see more benefits from finding an advisor who specializes in helping people in your age group or life stage.
Fiduciary financial advisors have a duty to help you above all else. They can only make recommendations that are in your best interest. Therefore, if an advisor is fiduciary, you can be sure they serve your interests above their own.
Before you commit to an advisor, find out how they're paid. Some advisors charge a flat fee, while others charge an hourly rate for advanced services. Have this information in mind when making your decision.
It's good to have realistic expectations for what you can expect from your financial advisor. Ask for a clear picture of how often you'll hear from your advisor, how they'll report to you, what kind of tax information they'll provide and so on.