How to Find a Wealth Management Advisor
Top 7 Steps to Finding the Right Wealth Management Team
Written by Mike Rogers, President and Founder, at 360 Financial
Wealth management advisors help you follow your dreams—whether that be retirement, a college fund for your child, or traveling the world. If you want to pursue your dreams, you’re probably wondering how to find a wealth management advisor. We’ll be diving into your questions about wealth management today.
TABLE OF CONTENTS
How to Find a Wealth Management Advisor You Can Trust
Before you look for a wealth management advisor, you have to know what it really is. The definition of “wealth management” varies from company to company, and from advisor to advisor. No matter what advisory firm you turn to, make sure you understand what their definition of wealth management is—and if it will truly help you manage your wealth.
How To Choose a Wealth Advisor
Finding the right wealth advisor helps you shift your mindset toward finances.
You’ll look toward the future with confidence and optimism, knowing you’re breathing your dreams to life. Choosing the right wealth advisor is essential.
Here are the steps to help you choose the best wealth advisor:
Step 1: What does wealth management mean to you? Find an advisory firm that agrees with your definition.
Step 2: What do you want in a wealth advisor? Find one who offers those services.
Step 3: What wealth management services are most important to you? Look for an advisor with related experience.
Step 4: Think about how you would like your relationship with your wealth advisor to be structured—then ask potential advisors questions, to see if their vision aligns with yours.
Step 5: Look for an advisor who listens to you and is empathetic to your needs. Ask wealth advisors personal questions, such as, “What do you like to do for fun?” or “What do you enjoy most about managing wealth?” These questions can help you see if you mesh well.
Step 6: Consider the advisor’s client testimonials, or ask family and friends for their recommendations.
While finding a wealth manager can take time, you’ll be glad you looked for the right one you can trust down the line. After all, managing your wealth is an important task, and you need someone who can help you reach your goals—without stress.
At 360 Financial, we pledge to serve your needs with the utmost respect, earn your trust, and uphold your best interest. Here, we build intentional relationships, and many of our clients become lifelong friends.
Common Questions about Working with a Wealth Management Team
What Is the Typical Fee for a Wealth Manager?
Many wealth management firms have sliding scale fees. Typically, the more assets you have with the advisory firm, the lower the fee. You can expect to pay a certain percentage of the money you have with the firm—for example, maybe 1% or 2%. These fees will vary greatly, depending on which firm you choose.
Are Wealth Management Advisors Worth It?
Wealth management advisors are worth it, because with their help, you can pursue your goals confidently. Great wealth advisors simplify, clarify, and customize your investment approach. Ideally, their plans will be easy to understand, answering all your questions and providing a roadmap.
The fees are increasingly worth it the more wealth you have. However, wealth management benefits everyone, in all walks of life. You’ve worked hard to become successful, and you deserve the right guidance in seeking to ensure your assets are protected.
How Much Money Should You Have to Hire a Financial Advisor?
If you have over $750,000 in investable assets, then you should definitely consider hiring a financial advisor. However, anyone can hire one, no matter what your financial situation is. If you have less investable assets, you may have to pay higher percentages.
What Is Wealth Management and How Does It Work?
360 Financial’s Wealth Management Services
At 360 Financial, our wealth management advisors look at you and your family’s finances holistically. Our goal is to help our clients get their finances in order—ultimately helping them feel more confident and happy.
360’s wealth management services include:
Meaning-of-life questions on life goals, money, and values alignment
Comprehensive and long-range wealth management and financial planning
Education planning and funding (college planning)
Estate planning and estate tax planning
Generational wealth
Investment advice and management
Philanthropic planning and charitable giving
Retirement goals and planning
Risk management
Specialist referrals
Tax planning & strategies
Key Takeaways:
Focus on finding a like-minded financial advisor in terms of:
Wealth management
What a wealth advisor offers
Relevant experience
Client relationship
Interests outside of work
2. Consider client testimonials, or ask family and friends for advisor recommendations
3. At 360 Financial, your needs come first, and we create a customized, financial plan for you. Your financial well-being and needs always come first.
Next Steps
At 360 Financial, we build relationships based on trust, communication, and chemistry. We want to get to know you, your financial goals and dreams, and any frustrations you’re facing. When you work with us, we mutually decide if there’s a comfortable fit—after all, we just want what’s best for you.
Book a 15-minute introductory call with 360 today.
About the Author
Mike Rogers
Mike Rogers, President, is the founder of Wayzata-based 360 Financial. As the founder, Mike’s priority is that 360 Financial always serves the client with empathy, integrity, and honesty. This unique, client-centric approach allows the firm to help clients decipher between the things they can control and what truly matters. In other words, Mike understands that money is not the end all be all, instead it’s the “how” that fuels the “why” to the question: “What’s important to you?”
Schedule a Call
At 360 Financial, our clients come first. You deserve personalized attention from an advisor at our firm. You’ll be happier and more confident to know that your needs always come first. Book a 15-minute introductory call with us today.
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.