How to Find A Good Investment Advisor

Whatever your plans are for retirement in order to ensure you have the quality of life you want for yourself, you should consider discussing your goals with a qualified retirement investment advisor. This individual can offer investment advice that can have a significant impact on your lifestyle after your enter retirement. Your investment advisor will be able to help you forecast how much money you will have available each year based on projections about rate of return at which your assets grow, pace of inflation and your own personal spending habits.

To find a retirement advisor, you can check with brokerage firms. They generally list the investment advisors they work with and provide information about their performance. You also can subscribe to one of the numerous database services that include information, and sometimes rankings, on investment advisors.

Financial Planners Vs. Investment Advisors

In evaluating prospective senior investment advisors, consider the services you need and in turn what services the advisor can deliver. There is, for example, a difference between a financial planner and an investment advisor. Whereas, most financial planners are investment advisors, not all investment advisers are financial planners. Some financial planners will assess every aspect of your finances in order to recommend a strategy or plan to meet your financial goals. Others call themselves financial planners, but they may only be able to recommend that you invest in a narrow range of products, and sometimes products that aren't securities.

Depending on their size, investment advisers have to register with either the SEC or the state securities agency where they have their principal place of business.

Question to Ask

The chief questions you’ll want to ask a prospective senior investment include:

• What experience do you have advising seniors about their retirement finances and goals? How long have you been practicing?
• What licenses do you hold? Are you registered with the SEC, a state, or FINRA (Financial Industry Regulatory Authority?
• What products and services do you offer?
• How are you paid for your services – fee or broker commission?
• Have you ever been disciplined by any government regulator for unethical or improper conduct or been sued by a client who was not happy with the work you did?
• What references can you provide?