The Evolution of Financial Advisors

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Published by Paul West

When you think of a financial advisor, what’s the first thing that comes to mind? Unfortunately, for many of you it’s one word- salesman. While some of those type of “sales-y” advisor types do still exist, they are commission based representatives that only have to make sure a transaction is suitable, but are not beholden to the fiduciary standard (always acting in your best interest).

Luckily the world does change and evolve, and that evolution has been a good thing for the financial planning world! Do you still get videos at Blockbuster or print Polaroid pictures? No, because the world found a better, more efficient way to do things, and so did the world of financial advice.

Our profession deals with one of the most sensitive topics for people: money. It’s not our job to sell products, but to provide guidance and advice. I believe that the most successful financial advisors in 2018 have following traits in common:

  • They are accessible when you need them the most.
  • They focus on creating a plan first and put investment second.
  • They act as a fiduciary, legally and ethically putting your best interest first.
  • They free up your time and help you gain financial confidence by helping rid you of unnecessary financial clutter. They also help you with the burden of always being the decision maker.
  • They are truth givers and truth receivers.
  • And most importantly, they are there to help you pursue your life’s purpose.

So I ask you to please stop thinking that every financial advisor is the same because they aren’t. If you are still working with a salesman, stop! Take some time and find the right advisor that fits you and your unique needs. Thanks to the new age of technology, the power to find information about potential or current financial advisors is at your fingertips. Use Google, Alexa, or any other online research tool to help you find the right advisor.

How do you start this search? Click here to read more about what questions you should be asking a potential advisor.

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