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Five Qualities to Look for When Choosing a Financial Advisor #FinancialPlanners #CFP #FinancialPlanning

By August 2, 2012October 4th, 2016No Comments

The following is a guest blog post by Stan Mann, a very smart and nice guy who I have gotten to know recently.  Stan is a coach for financial advisors and his website is listed below his post.


Are you looking to select a financial advisor and would like some unbiased advice?


Advisors will give you advice on how to choose an advisor, but you know darn well that, somehow, they’ll be tooting their own horn. They might not even realize they’re doing it. They’re human beings just like you and I. We are strongly influenced by our own needs.


I’m not a financial advisor. My background is a clinical social worker and then a business coach. Here’s my take on how to choose a financial advisor for you.


Five Qualities to Look for When Choosing a Financial Advisor


No matter the size of your savings and no matter how aggressive or reserved your investment may be, you must make sure that your money is handled efficiently to make it grow. To be able to do this right, you need a competent financial advisor to help out with managing your resource. In searching for the right financial advisor, you must look for five (5) qualities in the candidate to ensure competence and consequently, to reap the best financial results.


The Ideal Financial Advisor


It might surprise you to find out that there are many types of financial advisors, as there are many kinds of certifications for this type of profession. No matter what type of financial advisor you may choose, it is most important that your candidate should possess the following qualities:

1.    Appropriately educated. Your financial advisor must have the appropriate Certification as proof that he or she is competent in handling the financial planning and management of your money. Examples of such certifications include the Certified Financial Planner® (CFP®) designation and the Chartered Financial Analyst (CFA®) Designation. To earn such designations, financial advisors pass through a series of exams and must complete certain number of years in the field. Backed by such Certification, a financial advisor is expected to demonstrate utmost competence, solid integrity and expertise in accounting, in economics, in security analysis and in portfolio management.

2.    Experienced. With experience comes wisdom, especially in handling money and making it grow. This is the very reason why it is ideal to hire financial advisors who have over four (4) years of experience. This only means that they know what they are doing, and they are good at it. If however, you are inclined to hire an advisor who has lesser years of experience, make sure the candidate has an impressively brilliant track record.

3.    Transparent. Your financial advisor must be clear about every aspect of your business relationship. Some of these aspects include the financial plan for your investments and the salary he or she is expected to receive. Also, it helps if the advisor is being open as it cultivates trust.

4.    Sustains good rapport. Your financial advisor must be easy to get along with, someone who understands your goals and fears and is effective in explaining concepts to you. Liking your financial advisor as a person and as a professional is a big advantage, as it makes the business relationship healthy.

5.    Sustains solid reputation. Before hiring the preferred candidate, run a background check on him or her by calling up former and current clients. This will help you determine if your candidate has a good reputation for handling financial plans, or if the candidate is notoriously bad news.


Choosing a financial advisor is one of the most important decisions in your financial life. Handling investments is no easy task; if done in the wrong manner, your resources may cause you headaches and heartaches well after your retirement. If done correctly, you could surely look forward to a happy, comfortable life.


Let us know your ideas about choosing a financial advisor. Would love to hear from you.


Yours sincerely,

~Stan Mann, MSW, CPC


You can find more helpful tips on Stan’s website

Michael Garry Yardley Wealth Management

Author Michael Garry Yardley Wealth Management

Michael Garry is a CERTIFIED FINANCIAL PLANNER™ practitioner and a NAPFA-registered Financial Advisor. He is a member of the National Association of Personal Financial Advisors (NAPFA) and the Financial Planning Association (FPA).

More posts by Michael Garry Yardley Wealth Management