Finimpact

How To Find A Good Financial Advisor For Veterans?

A financial advisor can help you create a solid financial plan. Here’s how to find the right financial advisor:

  • Ask for recommendations: Do you have friends or family members that are happy with their financial advisor? That’s worth looking into.
  • Consider what services you need: Are you looking for tax planning help or investment advice? The right advisor will offer the blend of services you require.
  • Look for a fiduciary: A fiduciary is legally required to put your best interest first. Be wary of working with a financial advisor that doesn’t adhere to fiduciary responsibility.
  • In-person vs online: Working with an in-person advisor limits your search location. But you might not be comfortable working with a financial advisor online. Pick an option that suits your needs.
  • Consider costs: You shouldn’t overpay for a financial advisor. In some cases, the free VA advisory services are sufficient. But if you need to pay for a financial advisor, consider sticking with a fee-only financial advisor. Otherwise, you could be overpaying for their advice.
  • Do due diligence: Don’t just trust the first advisor you find. Instead, check that the advisor is registered with FINRA through BrokerCheck.
  • Ask questionsYou should feel comfortable with their communication style and goals for your finances. Don’t be afraid to ask questions before working with any particular financial advisor. For example, consider asking them how they will help you address how to start a veteran owned business.
  • Read the fine print: Make sure you are comfortable with any of the powers you hand over to an advisor. That’s especially true if you are allowing the financial advisor to invest funds for you.

The Bottom Line

A financial advisor can help you keep your finances on the right track. If you qualify, start with the free programs.

At some point, you might decide to upgrade to more specialized financial planning. But getting started with financial planning is a good first step as you map out your military money moves.

About the Author

Sarah Sharkey

Sarah Sharkey

Personal Finance Writer

Sarah Sharkey is a personal finance writer who enjoys helping people make better financial decisions.

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