Why You Should Date Your Financial Advisor

In my last post, “Demystifying Financial Advisors”, I talked about why it is a good idea to get a financial advisor, what types of advisors are available to you, and how much they cost. In the next video in the series, I discuss how you can find the right financial advisor for you and your current financial state. I believe the best way to do this is to date your financial advisor.

You might be thinking: Why would I need to “date” my financial advisor? Well, when you are looking for Mr. or Ms. Right, you spend a lot of time creating online profiles on dating websites and apps. And, you spend many precious hours searching, swiping left and right, and pouring over the information and photos posted by people who pique your interest. It should not be any different when you want to find the perfect financial advisor for your hard earned money.

Here is how you can date someone who can actually help achieve your financial goals, and take it to the next level when it comes to building wealth.

1. Get warm referrals. In the video below, I explain that first, just like when you are looking for love, you need to find good options. In regular dating, this means signing up for dating websites, downloading the latest dating apps, and going out on the town in a sexy yet classy outfit. When looking for a financial advisor a great place to start is by getting recommendations from people in your network – friends, family, and co-workers. The kind of financial advisor you are looking for is one that has experience with clients who are in the same life stage as you.

2. Check out online resources. If you are more of an online dater, you might also like finding an advisor from a multitude of online resources. I recommend starting with The National Association of Personal Financial Advisors (or NAPFA), The Garrett Planning Network, or CFP.net. In the video, I go into more detail about each of these online resources and why they are helpful. Just remember that when you are looking for a financial advisor online, you need to make sure you are taking the time to examine their profile carefully just like you would if you were on Match.com looking for your future life partner.

3. Create a short list. Now that you have done your research you should narrow down the list to 3 advisors. Once you have your short list, the next step is to make time to date your financial advisor. You already did all this work researching your potential matches so make sure that you see it through to the end. That is why this is the most important step.

Most financial advisors will do a free consultation and interview. Just like when you are dating, you should make it known upfront that you are exploring a few different options. Your potential financial advisor needs to know that they have some competition.

4. Plan a date. Set up a consultation/interview with each financial advisor and go prepared with a list of questions you want to ask. In the video I give you examples of the questions you should be asking your potential match.

Still have questions?

Watch this funny, practical and short video on what questions to ask your financial advisor, where to find a financial advisor, and how to find one that’s right for you. You will not want to miss the hilarious “dating scene” where you will get three tips on how to pick a financial advisor that meets you where you are!