5 Key Steps to Choosing a Financial Advisor

January 2, 2022

Working with a financial advisor may seem like something that only wealthy investors do. However, according to the National Financial Education Council, this common misconception costs the average American $1,200 annually in unnecessary spending or savings loss. People in all financial situations can benefit from professional help, whether they want to start saving for retirement, pay off debts, or simply eliminate unnecessary spending and taxes from their annual budget.

Benefits of Working With a Financial Advisor

You don’t have to have a large portfolio or own several businesses in order to work with a financial advisor on your goals. An advisor can help you improve your finances in many ways, including: 

  • Cut unnecessary spending
  • Lower your taxes
  • Focus on clear goals 
  • Improve your retirement plan
  • Learn avenues for wealth generation

Steps to Finding A Financial Advisor

Working with a financial advisor is incredibly helpful, but only if you choose the right one to work on your goals. Below are the five steps you should take before selecting a financial advisor to manage or guide you toward a more secure future. 


1. Determine what aspects of your finances you need help managing.

Not everyone faces the same financial obstacles or is working with the same income, so it’s important to find an advisor who understands your needs and goals. Some advisors specialize in investment management and retirement planning, while others tackle debts. Some provide estate planning services, while others help you choose different insurance products to protect your family financially. Each of these services is beneficial for a different stage in life, so you should pinpoint your needs before going to someone for help. 


2. Understand the different types of advisors.

Just as no two people have the exact financial needs, no two advisors offer the same services. Therefore, it’s essential to know what your advisor offers and what standard they are helping before signing up for a program. 

Some financial advisors are held to a fiduciary standard, which means they must provide service solely in your financial best interest. Many of these advisors use a fee-based structure to eliminate conflicts of interest that come into play in commission-based earnings. 

However, not all advisors are held to a fiduciary standard. For example, some advisors, such as those who sell insurance products, are only required to recommend suitable products. While this doesn’t mean that they are working against your interests, they may also be offering products with higher commissions, where you can decide for yourself what is best. 


3. Research advisors based on your needs.

Once you’ve defined your needs and have determined which advisors are held to a fiduciary standard (if that’s what you’re looking for), you can begin reaching out to different advisors for consultations. If listed, you should review their websites, offers, and pricing to know what to discuss in your initial interviews. Company reviews and testimonials can also help you narrow down your choice to find the right advisor for your goals. 


4. Interview with an advisor and communicate your interests.

If you’ve found a financial advisor that you believe could be a good fit for your or your family’s needs, schedule a consultation to learn more about their services, pricing, and plan. You want to be clear about your needs as well as your family goals and values to ensure that the financial products they recommend align with your long-term goals. 

At OneAscent, we choose investment opportunities that align with your values and financial goals. This values-based investment strategy helps our clients earn more without creating conflicts of interest between earnings and deeply held values. 

Learn more about working with OneAscent on our website.


5. Start crafting your financial future

If you find the right investor for your needs, don’t hesitate to start working with them soon. The earlier you start on a customized plan for your finances, the greater returns you’ll be able to yield. Whether you’re looking for honest investments or a retirement plan that puts your family first, you want as much time as possible to start earning and saving for the future. 

OneAscent can help you make your retirement and investment goals a reality in a way that is honest and in alignment with your vision for the future. To learn more about our financial advisor services, schedule a consultation today.



Past performance may not be representative of future results.  All investments are subject to loss.  Forecasts regarding the market or economy are subject to a wide range of possible outcomes.  The views presented in this market update may prove to be inaccurate for a variety of factors.  These views are as of the date listed above and are subject to change based on changes in fundamental economic or market-related data.  Please contact your Financial Advisor in order to complete an updated risk assessment to ensure that your investment allocation is appropriate.