How to Choose a Financial Planner Who Is Actually On Your Side

Choosing a financial planner can feel like navigating a maze blindfolded—especially when you're not sure who’s truly working in your best interest. With so many options and confusing jargon, it’s easy to end up with someone who’s more interested in their commission than your financial well-being. So, how do you find a planner who’s genuinely on your side? Let’s break it down.

1. Understand the Different Types of Planners

Not all financial planners wear the same hat. Some are fiduciaries, meaning they’re legally bound to prioritize your interests. Others operate on a commission-based model, which can create conflicts of interest. Think of it like hiring a doctor: you’d want one who prescribes medicine you need, not one who gets a kickback from a pharmaceutical company.

2. Ask the Right Questions

Don’t be shy—interview potential planners as if you’re hiring a key employee. Ask:

• Are you a fiduciary?
• How do you get paid (e.g., fees, commissions, or both)?
• Can you provide references or examples of how you’ve helped clients like me?

Their answers will reveal a lot about their transparency and priorities.

3. Check Credentials and Track Record

Look for certifications like CFP® (Certified Financial Planner) or CFA® (Chartered Financial Analyst), which often indicate rigorous training and ethical standards. Also, research their history—check for any disciplinary actions or complaints through resources like the SEC’s advisor database.

4. Assess Their Communication Style

A good planner doesn’t just talk—they listen. If they’re pushing products without understanding your goals, that’s a red flag. Your financial journey is unique, and your planner should tailor their advice accordingly, whether you’re saving for retirement, a home, or your child’s education.

5. Trust Your Gut

Finally, pay attention to how you feel during interactions. Do you feel heard and respected? Or rushed and confused? Your intuition can be a powerful tool in spotting someone who’s aligned with your values.

Remember, the right financial planner isn’t just an advisor—they’re a partner in your journey to financial security. Take your time, do your homework, and you’ll find someone who’s truly on your side.