What Should You Expect When You Hire a Financial Advisor?

  • By: John Brown, CFP®
  • January 2022

Whether you’re thinking about your future or wondering how to navigate your executive compensation package, you may be wondering, “How do I go about selecting and hiring a financial advisor?” or “What should I expect from the relationship?” If this sounds like you, Wealth Advocate Group has you covered. We’ve put together this guide to help you understand some of the fundamental questions you should consider when deciding who to work with and what to expect. We’ll also cover some best practices to keep in mind to help you derive the most value from your advisor.

Why Hire a Financial Advisor?

It can be difficult to decide if hiring a financial advisor is the right decision for you. Many of our clients are well educated and have achieved significant professional success. It’s not unreasonable to think that you can figure out your finances on your own. But should you have to? An experienced financial advisor can alleviate stress and free up significant time, providing peace of mind for you and your family. Here are a couple reasons to hire an advisor.

Guidance Through Life Transitions & Solutions to Complex Problems

Proper planning can help you navigate life changes and provide assurance that your loved ones will be taken care of no matter what happens in the future. An advisor can also help you find creative ways to solve complicated financial situations like executive compensation and business succession plans. Advisors often have access to sophisticated techniques that you might not otherwise be aware of or have the ability to implement on your own.

Risk Management & Retirement Planning

Advisors can identify current risks to your wealth plan, including health, life, disability, and property insurance levels, as well as investment risk exposure. Additionally, knowing that someone is actively looking after your finances can provide a significant degree of relief and comfort when it comes to cash flow concerns in retirement.

Intentional Decisions & a Sounding Board for Advice

A skilled financial advisor helps you maximize your money and live the life you desire by balancing your wealth management plan against your unique values and goals. Beyond that, an advisor can talk through financial recommendations with you, helping you understand the advice from all angles and ensuring you’re always making the most informed decision for your specific situation.

The Role of an Advisor

In 2021, 26% of Americans said their most trusted source for financial advice was their financial advisor. (1) While that’s still only about a quarter of all Americans, it is a significant change from 2020 when 30% said their most trusted source was themselves. (2) If you’ve read this far, you likely already know that you want to hire an advisor, but you may not know the specific role an advisor will play on your financial team. At Wealth Advocate Group, we like to think of a financial advisor as the team strategist. Rather than simply telling you where to put your money, they will help you see your goals in a way that allows you to have more confidence in the decisions you make.

What to Look for in an Advisor

Hiring a financial advisor is a big step to take, and it’s important to cover all your bases. Here’s what to look for before signing on the dotted line.

Cost-Effective Advice & Reliable Implementation Strategies

Advisors can be paid in a variety of ways for their services, including fee-only and fee-based. Make sure you find an advisor who offers cost-effective expertise tailored to your specific situation—without breaking the bank. You should also look for an advisor who offers reliable implementation strategies. Some advisors may simply recommend products or strategies and leave you to figure out how to actually get it done. Keep this in mind if you know you would prefer someone who not only provides advice, but also implementation.

Trustworthy & Simplifies Complex Matters

Above all, your financial advisor should be trustworthy. Your wealth management plan is one of the most sensitive aspects of your life, so it shouldn’t be handed over to just anyone. In addition to being trustworthy, your advisor should be knowledgeable, attentive, meticulous, and responsive. The last thing you want is an advisor who speaks about your finances in a way that you don’t understand. A good advisor will educate and support clients by simplifying complex concepts, ensuring that you are fully informed before making any decisions.

Open Communication & Proactive Approach

Open communication is a very important trait in a prospective advisor. Life changes constantly, and so will your goals, priorities, and finances. You need someone who provides regular interactions and ongoing communication so your wealth management plan can be updated in real time. This also helps to create a proactive approach to planning. Ideally, your advisor should be up to date on new opportunities and new challenges coming your way (e.g., tax law changes or upcoming financial milestones).

How We Can Help

It’s not too much to expect an advisor to competently and confidently develop, recommend, implement, and monitor your financial plan. Our team at Wealth Advocate Group can do just that. We’ve seen the tangible results of a good wealth management plan, and we would love to be a part of your financial journey. If you’d like to learn more about how we can help, call 440-505-5704 or email jbrown@Wadvocate.com to schedule an appointment.

About John

John Brown is a wealth advisor at Wealth Advocate Group, LLC, an independent, fee-based wealth management company. With over 10 years of experience in the financial industry and a background in accounting, John provides sophisticated and specialized services to his senior executive clients who need the expertise of someone well-versed in concentrated securities, stock options, and restricted stock strategies, as well as the risk and tax burdens that come along with their compensation. John has a bachelor’s degree in accounting and financial management from Hillsdale College and is a CERTIFIED FINANCIAL PLANNER® professional. John is known for his thorough approach, often asking questions and bringing up details his clients have not considered. He strives to address every piece of his clients’ financial picture to make sure they are set up to achieve their goals and experience confidence in their future. In his spare time, John and his wife, Christina, enjoy traveling and staying active. You can often find him spending quality time with his friends and family. To learn more about John, connect with him on LinkedIn.


(1) https://www.cnbc.com/2021/08/28/americans-are-changing-who-they-turn-to-for-financial-advice.html

(2) https://www.cnbc.com/2021/08/28/americans-are-changing-who-they-turn-to-for-financial-advice.html