How to Find an Independent Financial Advisor in Logan, UT
When it comes to managing your finances, it's always a good idea to seek the help of a professional. But how do you find a financial advisor who will give you unbiased advice? One way to increase the likelihood of finding an advisor who has your best interests at heart is to look for an independent financial advisor.
This article explains what an independent advisor is, other qualities to look for when you want objective advice, and how to find an independent financial advisor in Logan, UT.
What Is an Independent Financial Advisor?
An independent financial advisor is not tied to a bank, brokerage, insurance company, or other institution. This means that they have no obligation to push certain products or services. They are also not subject to the conflicts of interest that professionals who work for financial institutions may face.
This independence can increase objectivity and make it more likely that you will receive advice that is in your best interest.
Other Qualities to Look for When You Want Unbiased Advice
Independence is not the only trait you may want to look for in a financial advisor. You can also seek out advisors who are fee-only or fiduciaries.
A fee-only advisor charges client fees for their services, rather than receiving commissions or other compensation for selling certain products or services. A fee-only status can help assure you that the financial planner’s advice is not influenced by financial gain.
A fiduciary is legally required to act in their client's best interests. This means that they must put your needs ahead of their own and disclose any conflicts of interest that may arise.
Not all financial advisors are fiduciaries, so you’ll need to do your due diligence. You might look for a firm that is a Registered Investment Advisor (RIA) since they are required to be fiduciaries to clients. Certain certifications, such as the CERTIFIED FINANCIAL PLANNER™ (CFP®) designation, require its holders to be fiduciaries.
Finding an Independent Advisor in Logan, Utah
So, how do you go about finding an independent financial advisor in Logan? There are several ways to approach your search.
One option is to ask for referrals from professionals such as lawyers or accountants. Or you might ask for recommendations from friends or family members who have worked with a financial advisor. Personal recommendations can be a great way to find an advisor who has provided quality service to someone you know.
You can also search online using search engines like Google. However, it's important to be aware that not everyone who appears in your search results will be an independent financial advisor. Take the time to do your due diligence and research any potential advisors before making a decision.
If you're specifically looking for an independent, fee-only, fiduciary advisor, you can search FeeOnlyNetwork.com. This website lists local independent advisors who only charge fees for their services and are legally required to act in their clients' best interests.
Once you've identified potential advisors, it's important to schedule a consultation with each one. During this consultation, you can discuss your financial concerns or goals and see how the advisor might be able to help you. It's also a good opportunity to ask about the advisor's experience, qualifications, and fees.
Overall, finding an independent financial advisor in Logan, UT requires a bit of research and due diligence. But by seeking out an advisor who is independent, you can increase the likelihood of receiving objective advice in your best interest. So take the time to find the right advisor for you and your financial goals.
Parkshore Wealth Management is an independent, fee-only Registered Investment Advisor. Schedule a complimentary, 15-minute call with a financial advisor today to discuss your personal situation.
This material was generated using artificial intelligence (ChatGPT) and edited by Kaleido Inc. from information derived from sources believed to be accurate. This information should not be construed as investment, tax, or legal advice.
Parkshore Wealth Management is a family-owned, independent, fee-only Registered Investment Advisor with offices in Roseville and Folsom, CA, and Lehi and Logan, UT. We partner with financially responsible individuals and families who are eager to take positive steps that will allow them to use their money to build the life they desire. The firm is led by Harold Anderson, CFP®, and Daniel Andersen, CFP®, both members of NAPFA, the country’s leading professional association of fee-only financial advisors.