Finding your team

Choosing the right Investment Advisor

Choosing an Investment Advisor is a serious decision. You want to make sure you find someone who understands your individual situation and is going to help you realize your wealth management goals.

If you are not sure what to look for, we have put together some tips to help you in your search for the right Investment Advisor.

  • Understand that this is a relationship based on trust. You need to feel confident that you can build a relationship with your Investment Advisor that means feeling comfortable having open and honest conversations about your family and financial affairs. This will help your Investment Advisor develop the right strategy for you.
  • Ask about their experience and areas of specialization. Does your Investment Advisor have the experience to see your investments through all types of market environments? Does your situation require specialized knowledge, whether it is understanding of the unique needs of high net worth families or independent business owners? Be sure to ask your Investment Advisor about the types of clients they serve – and do not be afraid to ask for client references.
  • Unbiased advice and exclusive investment solutions. Many financial firms are restricted in their investment selection and will not have access to innovative and exclusive opportunities. Ideally, you want an Investment Advisor who is free to choose the products and services that best reflect your interests.
  • Find out if your Investment Advisor has access to other specialists. There may come a time when you need advice in other areas like tax and estate planning, insurance, philanthropy or putting together a succession plan. You may wish to take advantage of your Investment Advisor’s contacts and in-house resources or work with your existing network of professionals. Whatever you decide, you can only benefit by having a team that collaborates to ensure your investments are maximized, your taxes minimized, and that your estate is properly structured.
  • Communication and reporting that’s tailored to your needs. An Investment Advisor should be able to customize your communication preferences. Let your Investment Advisor know how you prefer to communicate as well as how often. And be sure to ask what type of reporting they can provide.
  • Investment Advisor or Portfolio Manager? The Advisor you choose will depend on how involved you want to be in your investments. While both provide guidance and expertise, an Investment Advisor will consult on every investment in your portfolio. A Portfolio Manager, on the other hand, may make investment decisions on your behalf guided by the parameters outlined in your Investment Policy Statement.

Once you have decided on an Investment Advisor, the rest is easy

You should not feel uncomfortable about leaving your current Investment Advisor. After all, it is your wealth, retirement, family’s future and legacy that is at stake. It can all be handled by submitting the proper paperwork.

Take the first step and use our search tool to find a Richardson Wealth Investment Advisor close to where you live or work.