Finding and selecting a wealth management advisor can be difficult when you aren't sure how to find one that fits your financial needs. To start, ask yourself questions to figure out what part of your life you need financial planning for. Do you need help with investing, retirement planning, or risk management? Once you know this, you're ready for the next steps in finding a wealth management advisor. At Momentum Private Wealth Management in Cedar Park, TX, our CERTIFIED FINANCIAL PLANNER™ professional is happy to explain the options for you and help you build a financial plan to reach your goals! 

Know the Types of Financial Advisors 

Make sure you educate yourself when finding someone to manage your wealth. That means knowing the different types of investment advisors and their fiduciary responsibilities to you as a client.

• Brokers and Dealers: Under federal law, brokers and dealers are technically "salespeople" who are only required to recommend investment products that are "suitable" for their clients. Some brokers may receive kickbacks from investment providers and push you toward investments that benefit them more than you.
• Fiduciaries:  Fiduciaries, on the other hand, are legally required to act in your best interest only, not theirs. Registered Investment Advisors and firms that operate under trust charters are two examples of fiduciaries.
• Financial planner:  a professional who helps people plan for their financial future. Financial planners are trained and certified to provide advice on a wide range of financial topics, including investment planning, retirement planning, estate planning, and tax planning. Not all financial advisors are financial planners.

If you are looking for someone to help you with your Wealth Management, it is a good idea to choose one who is a financial planner. More importantly finding a financial planner that has the CFP® designation. CERTIFIED FINANCIAL PLANNER™ professionals have achieved the highest standard in financial planning and are fantastic options for helping build your financial plan. 

Do Your Research 

Once you've learned the types of financial advisors available, consider going the extra mile to ensure the ones you are looking at are capable, trustworthy, and knowledgeable. You can use free tools like Investor.gov for investment management services or FINRA's BrokerCheck program. 

Ask friends and family for recommendations. When they give you a few names of advisors they have worked with and trust, set up a meeting with the advisors to understand their process, fee structures, and expertise.

Ask Financial Advisors Questions 

Always ask questions when talking with a financial advisor to ensure they have your best interest in mind. 

Here are a few examples: 

• Does your company adhere to fiduciary duty in all its services? 
• How do you ensure that your products are beneficial for your clients? 
• What is your process or approach to financial planning? 
• How are you compensated when working with clients? 
• How long have you been working with clients?
• Do you have any references?

Trust the Best Private Wealth Management Advisor in Cedar Park, TX

Wealth management is a complex field, and finding the right advisor requires due diligence on your part. However, by following these tips, you can be sure to find an advisor that is qualified and experienced to help you reach your financial goals.

Wealth management advisors can provide the guidance and assistance you need to grow and protect your wealth. If you are looking for a wealth management advisor in Cedar Park, TX , contact Momentum Private Wealth Management today. Our CERTIFIED FINANCIAL PLANNER™ professional will be happy to discuss your wealth management needs and objectives. We can provide you with the insights and advice you need to make sound financial decisions.

Get in touch with us at 512-416-8085 to start planning for your future!