Updated: Oct 2, 2019
As we go through life, it's guaranteed that we'll hit some milestones. For some, it's buying a car, and for others, it's starting a family. Whatever your milestones are, they most likely require quite some funding to achieve. Because of this, it's a good idea to seek out a financial planner, as they can help you with comprehensive wealth management. It can be overwhelming seeking out the perfect one for you. To help you out, here are some key steps to hiring a financial advisor in Pittsburgh.
Determine If You Need an In-Person Advisor at This Stage
As you grow older, your financial goals may become more complicated. Your savings account may be fuller, and you have more milestones to consider, such as college for your children and retirement for you and your spouse. In this case, it would be prudent to consult with a financial advisor, as these are complicated matters involving large sums of money.
Ask Your Family and Friends
One of the best ways to get a nice list of financial planners is to ask your family and friends.
Your loved ones are an excellent resource since they have your best interests in mind. You can chat with them about the pros and cons of the financial advisors they chose and they'll be upfront about things like the fees they paid. Recommendations from your family and friends are potentially advantageous in two ways. Not only do you get a good idea of which pittsburgh financial advisors are stellar, but you'll also learn which ones might not be your style.
Consider Their Fee Structure
In general, there are two ways financial professionals will charge you: they either take a commission (which can vary) or they don't. If they don't, then their fee structure can be either flat, hourly, or a percentage under management. The type of fee structure you choose is all up to your personal preference. So, make sure to get this information before you settle on a planner. You don't want to work with them and then find out later they charge a commission when you're not comfortable with that idea. While it may be difficult to discuss these matters, it's extremely important you get this information early on and make good informed decisions.
Interview a Potential Financial Advisor In Pittsburgh
Because many pittsburgh financial advisors offer free consultations, take full advantage of them to conduct interviews. Treat it like a job interview; they're essentially going to be your employee, after all. Before you turn up for your meeting, prepare a list of questions and concerns you may have. During the consultation, you should also ask for references to similar clients they've had. That way, you can see how they handled that situation. These interviews with planners are a great way to figure out if they actually take care of their clients. The ones that top your list should be patient, not pushy about any advice, and confident in their financial knowledge.
Because many pittsburgh financial advisors offer free consultations, take full advantage of them to conduct interviews. Treat it like a job interview; they're essentially going to be your employee, after all.
Hire a Great Pittsburgh Financial Planner for Your Family
It's never too early or too late to get a professional's opinion on how you should manage your money. By starting now, you can better prepare and pursue your financial goals more efficiently. If you'd like to speak to a financial advisor in Pittsburgh, then book your free consultation today.