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Choosing a Financial Planner

Choosing an advisory team is one of the most important decisions you will make...

This decision will affect your ability to attain and maintain your financial independence and life goals. As with any big decision, a certain amount of due diligence is essential. As such, we have put together a list of independent resources we believe to be the most effective in assisting you with this process. 

Please refer to the questionnaire provided by the National Association of Personal Financial Advisors. We recommend you use this questionnaire in your process of learning about financial planning and wealth management firms. 

We also encourage you to review the consumer information provided by the Financial Planning Association in your process of selecting an advisory team.

We at E&G Wealth Advisory Group have also developed a basic list of criteria to assist consumers in selecting an investment manager/financial planner.

If you follow these criteria, we believe you will have the highest probability of identifying an effective team of professionals who have the right qualifications and are working for your best interests:

  • Find a firm that must adhere to a Fiduciary Standard. 
  • Look for a team of professionals who have university degrees and educational backgrounds specifically in financial planning and who hold the CFP designation. 
  • Look for a team of professionals who value education and professional development as indicated by memberships in the leading associations providing continuing education, such as the Financial Planning Association and the National Association of Personal Financial Advisors.
  • Look for a firm providing holistic financial planning and not just investment management. In our opinion optimal investment management simply cannot be implemented without continually considering tax, estate, retirement, and risk management factors.  
  • Find a firm that is truly independent (not limited or biased in the investments they can recommend), and that has a fee-only (no commission) compensation model.   
  • Find a firm with strong references from their current clients as well as from other professionals.  
  • Find a team of professionals with whom you feel comfortable sharing personal information and building a lifelong relationship.