Best places to find a financial adviser

By Kelli Kiemle
Posted on March 24, 2023

Last month, we wrote about “How to select the right financial adviser.” This month, we complete that article with some good places to look for one:

Certified Financial Planner Board (cfp.net). The CFP Board lists vetted advisers — you can sort by criteria such as location, gender, etc. Everyone on this list will have that CFP designation, which means regular training and updated education.

NAPFA.org. NAPFA (The National Association of Personal Financial Advisors) is a key resource for finding advisers who are vetted and fiduciaries. This is also a good option if you prefer to work with an adviser only on projects or on an hourly basis — such as a one-time financial plan, an insurance review or maybe a 401(k) reallocation. NAPFA only has fee-only advisors available.

Rankings. Many reputable organizations provide rankings. For example, CNBC’s Top 100 Advisors List curates a list of the top advisory firms. They evaluate companies based on compliance record, years in business, assets under management, etc.

The firms that make the list can also be a little smaller and thus have less marketing and advertising budgets, but they can offer tailored services, company cultures and advisers.

The best thing to do is check out their websites and see if their approach and type of planning/investing matches with what you are thinking.

Word of mouth. Talk to people you trust or deem successful. This can be a great resource if you’re looking for a local adviser whose office you want to visit. But remember, the adviser who worked with your brother through his divorce maybe not be the best person for you if you’re looking to start a business.

Not ready to commit?

If you aren’t ready to make a decision or want some extra time to get to know a company or an adviser, try getting on their mailing list. These newsletters usually contain advice on what to be planning for or thinking about now and in the future.

Also, check out their websites, as new content might be produced there frequently — whether it be a new article, video or even information about an upcoming event.

These communications will enable you to know how an adviser thinks about planning and investing, what they do when markets get crazy and, overall, who they are as a company.

Choosing the right adviser is a critical step in your financial success. There are many more factors to consider other than just good returns or their familiar name. The more you know going into the process, the better your outcome will be.