Finding a good financial advisor is not an easy task. When choosing between two or more wealth management firms, investors often find themselves confused.
Many new investors don’t understand all the intricacies of the finance world. That’s why they need professional help in making the right decisions.
That said, trusting someone with your assets is not so simple. And with so many finance planning companies in the market, finding the right firm becomes even more arduous. So, what should new investors do?
Derek Pesta, a CERTIFIED FINANCIAL PLANNER™ professional, shares some insights. With a decade-long experience in the field, Derek has observed several investors closely. Putting himself in their shoes, he could feel an average investor’s confusion.
Deciding to help them, he identified certain traits he believes investors should look for in a wealth management firm. If it ticks all the right boxes (or most of them), then it might be a great fit for you. If not, then try to find someone else.
So, let’s delve into the attributes that can help investors make the right decision when choosing finance planning services.
A Genuine Passion
“A finance professional’s journey should be anchored in a deep passion for financial planning and wealth management,” says Derek. In the economic landscape, only the authentic finance enthusiasts can better guide the clients.
Some people do business for the sake of profit and loss. In contrast, some generate value by helping others through their expertise. An investor would want to focus on the latter, but how?
Look for a service that strives for continuous learning and innovation. Your target is any wealth management practice that tries to solve problems for the benefit of clients and industry.
Analytical Expertise
Analytical skills are essential for any financial advisor. “Financial planning involves a wide range of tricky areas. And analytical skills enable us to navigate this complex terrain effectively,” explains Derek.
So, any firm that conducts market research and provides data and analytics is a better choice for investors. By sharing exact figures, precise prediction charts, and historical data, finance professionals can tell investors why a certain strategy would work better than others.
This is very crucial for developing trust. And any wealth manager who tries to educate you about investment opportunities will work in your best interest.
Holistic Financial Wellness
Derek also believes that adopting a financial planning approach that goes beyond conventional advice can benefit investors. Some planners comprehensively view clients’ financial lives instead of focusing on a single objective.
They recognize that financial well-being extends to debt management, tax optimization, and long-term financial goals. This approach provides clients with guidance to feel confident about the decisions they make related to their financial future.
Client-Centric Values
According to Derek, a commitment to clients’ interests is paramount for good finance planning service. Therefore, investors should choose a service that claims to craft strategies tailored to the client’s unique goals
More importantly, don’t just take anyone for their word. Verify this claim by asking questions. Ask and get clarity from your financial advisor for anything, whether small or big. If you see them being transparent in their claims, you’ve met the right match.
Derek believes that if investors keep these things in mind, the chances of finding the best financial professional will drastically increase. Besides that, he not only talks about these values. Instead, he strives to adopt them in his practice at Pesta & Pesta Wealth Management.
“We always act in your best interests, which means your goals drive your investments – and not the other way around,” he adds.
Finally, investors must do their homework before trusting someone with their
hard-earned assets. After all, any decisions made with life-long savings can deeply impact the future. You can follow Derek Pesta’s advice and look for the traits he mentioned. Perhaps they can help you distinguish between a financially healthy future and an unbearable loss.
Connect with Derek on LinkedIn to learn more about navigating the finance world as a new investor.
Investment Advisory services are offered through CWM, LLC an SEC Registered Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.