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If you have financial needs and goals that you want to achieve in the future, you’ll be better off working with a financial advisor firm. The experts in these firms will help you develop a saving plan for your retirement, diversify your portfolio, manage your debts, and so much more.
Many financial advisor firms today claim they can help you build wealth. So, how do you know which one is best for you?
To make things a little easier, we’ve compiled a list of the best financial advisor firms that you can trust to grow your wealth in 2022.
Facet Wealth
Facet Wealth embraces an unbiased human approach to financial advice and planning. The firm provides holistic wealth management services to help people make sound decisions about their money.
The professionals at Facet Wealth will start by getting to know you personally and understanding your unique financial goals. Then, the firm’s team of expert advisors will work with you to create a customized plan that fits your needs. This may include finding ways to save money, investing for the future, or paying down debt.
The advantage of working with Facet Wealth is that the firm does not confine itself to being a retirement financial advisor. It will even go so far as to advise you on what to do if you receive a pay raise.
Charles Schwab
Charles Schwab primarily operates as an online investment advisor. The firm will offer you personalized financial planning services. Its team of specialists will look into all elements of your financial life and devise a plan to help you meet your responsibilities and attain your goals.
Charles Schwab will also offer you other types of financial services. Examples include advice on estate planning, retirement planning, and tax guidance. If you’re interested in investment management, the specialists at Charles Schwab will guide you through portfolio management.
Betterment
This is your go-to financial advisor firm if you’re interested in robo-advisor services. Betterment combines great human advice with automated investment technology to help you grow your wealth.
The firm will help you build a diverse portfolio that will generate long-term returns for you. The robo-advisor will divide your funds between different classes of assets. It will rebalance the portfolio depending on your living situation, income, and age changes.
Betterment is a good option if you want a hands-off investment approach.
Vanguard
Using its retirement optimizer, Vanguard will create robust retirement scenarios for you. They will tell you how to allocate your assets depending on your risk tolerance and long-term goals.
Vanguard will provide you with customized financial planning services only if you have a huge bank balance. The company requires that you have at least $50,000 to get these services. This means that the firm’s financial planning services are only suitable if you’re a large account holder looking for personalized advice.
Personal Capital
Although it’s a robo-advisor, it blends AI and human intelligence to help you make the best decisions. With Personal Capital, you’ll have tools to manage how you spend your money. You can use the tools to check your investments and analyze your spending.
However, Personal Capital is suitable for people with high account balances of $200,000 and above. If you have such a balance, you will get a personal financial advisor. If your balance is less, you will work with a team that will also manage other clients’ accounts.
How to Find the Best Financial Advisor
If you’re interested in finding a financial advisor, there are several factors you should consider. Some of the most crucial factors include:
License
You should check whether the professionals you intend to work with have a financial advisor license. Check whether they have a license in the category of financial instrument you’re interested in.
At a minimum, the advisor should have Series 6 and Series 7 licenses. The latter will mean they are authorized to sell all types of investment products and offer advice on the same. You can check the advisor’s license and credentials with the Financial Industry Regulatory Authority (FINRA).
Experience
You should choose an advisor with an adequate background in the financial markets. Since the advisor will be guiding you in making most of your financial decisions, it’s only reasonable that they are qualified.
You can find an experienced investor by asking for referrals and reading reviews about their services or the firms they work with. The best advisor will be the one who has helped their clients through different economic cycles.
Type of Financial Advisor
When looking for the best financial advisor firms, you’ll have three options. These include robo-advisors, online financial advisors, and traditional financial advisors. A robo-advisor will be better if you don’t have much money to open an account because it doesn’t require an account minimum.
Online advisors will offer you virtual services and allow you to consult a team of advisors virtually. It will be a good option if you’re looking for a holistic financial plan at a lower cost.
If you choose traditional financial advisors, you’ll have access to advisors who can guide you in different areas. It will be a better option if you’re interested in a human touch between you and your advisor.
The Type of Services You Want
Financial advisors are not all cut from the same cloth. You need to know the type of financial help you’re looking for to choose an advisor who will best meet your needs.
If you want help with all aspects of your financial life, you should choose a financial planning advisor. You might ask yourself, “Is there a financial planner in my area?” Firms like Botto Financial will just be a phone call away to help you develop a great financial plan.
You can also choose investment advisors, debt management advisors, retirement planning advisors, tax planners, or estate planners. Your choice will depend on your financial goals.
Trust the Best Financial Advisor Firms to Build Your Wealth
You have financial goals that you want to accomplish within a stipulated period, no matter your current financial position. Working with the best financial advisor firms will help you attain these goals more seamlessly and faster. Start by considering the firms we’ve listed for you.
If you’re trusting another party to handle your finances, you need to ensure that they’re reliable. The above list will guide you in choosing a reliable financial advisor who will help you build your wealth.
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