Home » Insights » Personal Finance » How To Choose A Financial Advisor
Doug Fabian
Senior Vice President
Matt Cook
CFP®, Client Advisor
More than 650,000 so-called financial advisors in this country are eager to recommend how you should invest your money. However, not all of them are required to uphold your best interests above all.
How do you sort through different companies’ claims to find an advisor who’s truly focused on doing what’s right for you?
In this episode of The Science of Economic Freedom, I delve into why so many investors get poor advice at their expense. My guest Matt Cook, a Certified Financial PlannerTM with Mercer Advisors, shares one crucial reason: Not all financial representatives are bound by the same rules.
About 83% of advisors follow the suitability standard, which allows them to promote their own company’s investment products—while earning a commission on what they sell—provided the investments are suitable for their clients’ goals. By contrast, says Matt, he and other Registered Investment Advisors (RIAs) are required under the fiduciary standard to put clients’ best interests ahead of their own.
Matt provides several other tips for evaluating different advisors, including three questions to ask yourself:
He also talks about what distinguishes comprehensive wealth management from simple investment advice, and how the financial services industry has changed over the past 20 years.
If you’re looking for reliable tools to help you choose a trustworthy guide on your wealth management journey, then give Episode 44 a listen.
with one of our talented wealth advisors who will help you connect all your financial dots
All investing involves risk, including the possible loss of principal. Portfolio management strategies such as diversification, asset allocation, and rebalancing do not ensure a profit or guarantee against loss. There is no guarantee that any investment strategy will achieve its objectives. Mercer Advisors is not a law firm and does not provide legal advice to clients. All estate planning document preparation and other legal advice are provided through Advanced Services Law Group, Inc. Mercer Advisors Inc. is a Delaware corporation and is in no way affiliated with Mercer LLC, Mercer Investments, or the Marsh & McLennan Companies. Mercer Global Advisors Inc. is registered with the Securities and Exchange Commission and delivers all investment-related services. Mercer Advisors Inc. is the parent company of Mercer Global Advisors Inc. and is not involved with investment services. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Terms & Conditions | Privacy and Security Center | Firm Brochure Adv Part 2A | Form CRS.
©2023 Mercer Global Advisors Inc. All rights reserved.
If you have questions related to our terms and conditions please email [privacy (at) merceradvisors (dot) com]. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.