Hiring a financial advisor is one of those pivotal life decisions - a fork in the road that can dictate the path of your financial future for decades to come.
A study from Northwestern Mutual of the attitudes and behaviors of American adults toward money found that 71% of them felt their financial planning needed improvement, while only 29% work with a financial advisor.¹
The value of working with a financial advisor varies by person and advisors are legally prohibited from promising returns, but research suggests people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.²
While hiring a financial advisor can help you maximize your retirement nest-egg, there are some potential pitfalls you should be aware of before you choose who to hire. Learn about the mistakes people make here.
SmartAsset's no-cost tool can help you avoid some of the common mistakes in looking for an advisor. Try the short questionnaire to get matched with up to 3 vetted financial advisors serving your area, each legally bound to work in your best interest. You can compare you matches and choose the one you feel is best for you. It's never too late to plan to work toward a comfortable retirement.
Ready to know 6 things not to do when selecting a financial advisor? See the list
