Before you hire a Financial Advisor...

Do you know the real costs and benefits of the different sources of financial advice?

Doing it yourself may come with the lowest cost up-front, but can lead to questions and mistakes. Should you opt for advice on an hourly basis or go with a robo-advisor? Or, would you be most comfortable going the more expensive and comprehensive route, in a traditional advisor relationship?

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What Do Financial Advisors Do?

Ideally, the role of a financial advisor is to help you envision your future, help you create a personal financial plan, help you monitor the plan and manage your investible assets so that you reach your financial goals. They can help you with:

Planning. You can figure out your goals and determine your spending.
Plan Implementation. A typical financial plan may have an associated action plan with anywhere between 10 and 30 action steps.
Behavioral Coaching. A good financial advisor coaches you through the pitfalls associated with making decisions based on emotion.
Portfolio Management. They can help manage your investible assets.
Wealth Management. Wealth managers provide you with guidance, keep your finances on track, help you consider your legacy, and make sure all aspects of your financial world are working together.

Access our "Before You Hire a Financial Advisor" guide now to determine if you need an advisor - and how to find one that works for you.

Jonathan K. DeYoe is the founder of Mindful Money. The opinions voiced and all accompanying materials are for general information only and are not intended to provide specific advice to any individual. Past performance is no guarantee of future results. All indices are unmanaged and cannot be invested in directly. Investing involves risks including possible loss of principal. There can be no assurance that any technique or strategy discussed on Mindful Money will be suitable for any particular investor and there is no guarantee of any specific outcome. Mindful Money renders no individual advice. Personal Financial Planning and Investment Advice are offered only to clients who have signed an advisory agreement with EP Wealth, a registered investment advisor. If you have the minimum investment of $500,000 and are seeking individual advice, please Contact Us and we will connect you with a qualified advisor at EP Wealth.