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Retirement Reality Check

  • A free, no-hassle, quick 10 minute call
  • See how prepared you are
  • Learn about the process to get on track
  • Learn how retirement has changed


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Tips To Finding The Best Financial Advisor Near You

Financial advisors advise clients and recommend the best ways on how to invest, save, and grow their money. They are financial experts that can help individuals deal with particular financial goals such as preparing themselves to purchase a house or give you an overall view of your money. If you live in or near St. Louis, then it’s important for a number of reasons to find a local financial advisor close to you.

Some financial advisors specialize in estate or retirement planning while others consult on a wide range of financial issues. Anyone can claim that he or she is a financial advisor, but this does not necessarily mean that this person is a pro or expert in the field.

Most individuals need the services of a financial advisor at some point in their lives. If you are in the pursuit of locating a financial advisor near St. Louis, these following tips may help you.

Know The Services: Planning Retirement And Your Future With St. Louis Financial Advisors

There are some St. Louis financial advisors who render financial planning services but not investment management, while others manage investments but only provide little when it comes to financial planning. To find the best financial advisor near you, you need to clearly understand the differences between the types of services they offer.

  • Financial Planning– focuses on all financial aspects of your life, such as your savings, how much money you make, and your investments.
  • Retirement Income Planning– focuses on how you will coordinate essential pieces, including taxes, social security, pensions, and more. This is done so that they will all ideally align towards your specific goal of having retirement paychecks for life.
  • Investment Advisory Services– focuses on investment management functions, such as particular types of investments you need to own and to which account.

If you’re on the search for a financial advisor, it’s also beneficial to ask friends and family for recommendations. Furthermore, you should ask those people you know personally who have similar financial needs. With recommendations, do your due diligence: look them up online, research their firm and ensure their values line up with yours, and even search for community involvement.

Moreover, ask the following questions to your potential advisor or firm:

  1. What kind of services do you provide and how much do you charge?

You should always know what services a firm has and how much they charge. Perhaps a firm that has been recommended doesn’t do investment management and you’re in need of it. You’d want to ensure that your chosen firm has every financial service you may need and that you can afford it.


  1. What are your licenses, credentials, and certifications? How much experience do you have? Do you have any expertise and what is it in?

Having a financial advisor that is not certified is like going to a doctor who doesn’t have a current medical license. You need to know that your financial advisor is knowledgeable enough to help you plan your future. Furthermore, you need to know that he or she is going to have the right experience and specialization to help you in the best way possible.


  1. How do you approach investment and asset management? What is your investment philosophy?

Some investment managers believe in following the breaking news of the day, while others believe in riding out the ups and downs of the market. Some take a riskier approach, while others believe in security. It’s important to choose a financial advisor who matches your philosophy.


  1. Can you take me through the financial planning process and what it will look like when finished?

You should know what the process will look like and if the end result is what you’re looking for. Some firms organize finances differently, but they should match up with your expectations.

  1. How much do you communicate with your clients?

Only you will know whether the answers to these questions will be right for you. You should always choose an advisor and a firm who has the same values and financial philosophy as you. Furthermore, you should always choose an advisor who specializes in your needs. This means that if you’re far along in retirement planning, perhaps you should choose a financial planner who specializes in investment management. If you’re at the beginning stages and want to set up your plan, then choose a financial advisor who specializes in setting family budgets. Moreover, you should always choose a planner who will communicate with you on a regular basis and communicate clearly. Reports about your finances, especially assets and investments, should be sent regularly.

Choose a Financial Advisor in St. Louis with Impressive and Reputable Credentials

It is very important to find a financial advisor with the proper credentials. A financial advisor must have a PFS or CFP designation. These credentials are obtained by passing the CFP examination and demonstrate proficiency in the field.

CFP is short for certified financial planner and means that the person who holds this certification has passed rigorous education and testing. They know the ins and outs of personal finance and investment management. Without these designations, your prospective planner may not be well-informed enough to teach you how to manage your finances and may even make a mistake in planning your financial future. You can’t take any chances in planning for your retirement; just one small mistake could mean the difference between having the retirement of your dreams and not being able to retire at all.

In order for a financial advisor to maintain this designation, he or she must meet the standards of an ethics policy and comply with the education requirements that are needed. A financial advisor must continue their education to keep their designation and work for people like you. There are many financial advisors in the St. Louis area who have a PFS or CFP designation. However, when choosing your advisor, it’s important to double check their credentials.

Know How Financial Advisors Near St. Louis Are Compensated

When searching for a financial advisor, it is also highly imperative to know how this professional is being compensated. Keep in mind that there are many different ways that a financial advisor can be paid. So, take the time to figure out if the financial advisor is charging an hourly fee, asset-based fee, or being paid based on commission.

A fee-only firm and financial advisor is the recommended and safest way to go. When a financial advisor is paid based on commission, he or she may not always have the client’s best interest at heart. They are salespeople first and foremost, selling you services that you may or may not need. Having the wrong financial products and services can both drain your finances and keep you from reaching your dreams. However, a fee-only advisor will always have the client’s best interest in mind when laying out a financial plan. Their number one goal is to make sure you, the client, achieve financial peace. Their goals are your goals. Your concerns are their concerns. You are their priority, not selling a product to make a commission.

These are just a few of the many ways to locate the best financial advisor near you. Once you find a good financial advisor, take full advantage of the services they offer. If you are in need of a financial advisor in St. Louis now or in the near future, the best company around is The Retirement Planning Group. Contact them today to schedule an appointment with one of their professionals.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text][wpseo_map id=”21836″ width=”1200″ height=”400″ zoom=”-1″ map_style=”roadmap” scrollable=”1″ draggable=”1″ show_route=”0″ show_state=”1″ show_country=”1″ show_url=”1″ show_email=”1″ default_show_infowindow=”1″][/vc_column_text][/vc_column][/vc_row]