Evaluating a financial planner

Evaluating a Financial Planner? Critical Qualities You Should Seek

You likely have come to the conclusion that you may not want to spend your time researching information, developing strategies, implementing vehicles, and constantly coordinating all the efforts of investment, tax, and legal advice. And a financial planner can help you comprehensively go through that process. So we put together a list of qualities that we think are critical for you to consider when evaluating a financial planner.


It’s important that you feel comfortable with the planner. This will likely be a long-term relationship, so establishing a good relationship with someone you trust is very important.


In other words, is there a big investment or a larger insurance company above them providing them with encouragement, if you will, to move you in a particular direction? We want someone who is advocating on your behalf, not on the behalf of an investment or an insurance company.


You should be able to answer yes to the following questions. Do they understand where you’ve been, where you are, and where you’re going? Are they intimately familiar with the issues important to doctors? Do they have a firm grasp of your desire, not only to create wealth but to protect and distribute it as well?


The planner should charge a fee for financial planning and investment advice. We have found that working with this type of planner is more likely to result in objective and unbiased advice. Types of services provided by fee planners can vary and they’re specified in a financial planning grid.


This is going to be a long-term relationship. How many people at one point or another have dated somebody that they said on paper, matched out perfectly? Everything you’ve ever wanted in that particular individual, your spouse or whomever, matches up perfectly, but you just didn’t feel it here.

Conversely, we’ve all probably dated somebody who probably didn’t measure up on the list of requirements, but certainly, you felt that in certain spots where you said, this person, they’re great, there’s no way I’m going to introduce them to mom and dad. I think making sure that you have someone who matches up on paper, has all the requirements that you want, as well as somebody that you feel comfortable with is critical.

If you would like to learn more about this subject or receive a free quote then please contact us and we’ll be happy to help.

By Anthony C. Williams, CWS, ChFC, MRFC, CLU | Investment Advisor Representative | President & Founding Partner of Mosaic Financial Associates & Orthopaedist Advisory Group | Securities and advisory services offered through Cetera Advisors LLC, Member FINRA/SIPC, a broker/dealer and a Registered Investment Advisor.  Cetera is under separate ownership from any other named entity.