How to Work with an Investment Advisor in Lehi, UT
What do you look for in an investor advisor? This article covers types of advisors and how to find an investment advisor in Lehi, UT.
Advisor vs. Adviser
Many financial professionals call themselves investment advisors. However, there can be vast differences between them. Some may be brokers who make investment transactions on your behalf. Others may be regulated by the U.S. Securities and Exchange Commission (SEC) or a state regulatory agency.
The Investment Advisers Act of 1940 differentiates SEC-regulated professionals by calling them “advisers” with an “e.” But there’s more than just a letter’s difference. SEC-regulated firms and professionals must serve as full-time fiduciaries to clients. This means they must always put your best interests first.
As the SEC states, these advisors must act with undivided loyalty to clients and in good faith, cannot engage in activities that conflict with clients’ interests, and must disclose material facts when advising clients.
Our firm is registered with the SEC and committed to our fiduciary obligation. In addition, we are fee-only (meaning we don’t accept commissions) and independent (meaning we aren’t affiliated with a bank, brokerage, or insurance company).
For this article, we mean investment advisers as the SEC differentiates them even as we go with the more common spelling of advisor. You also will find such advisors using titles like financial advisor, wealth advisor, asset manager, or portfolio manager. The key here is the fiduciary obligation to clients.
Benefits of Working with an Investment Advisor
A fiduciary investment advisor will help you build, implement, and manage a portfolio based on your goals and risk tolerance. They can play an important role in helping you make informed decisions by offering recommendations that put your best interests first.
Your advisor may analyze market trends, evaluate investment opportunities, and develop strategies for achieving goals. They may also provide ongoing advice and support, monitor investments, and make portfolio changes as needed to help ensure you are on track to meet your goals.
You can work with an investment advisor who provides only portfolio services. However, you can also work with advisors who offer comprehensive wealth management services, including:
Financial planning
Tax planning and preparation
Cash flow planning and management
Retirement, tax, and estate planning strategies
Portfolio management
Asset allocation model construction
Retirement plan rollover guidance
Advice about stock options
All these services would come together as a complete financial blueprint for achieving your objectives.
Finding an Investment Advisor in Lehi, Utah
If you are looking for an investment advisor in Lehi, Utah, there are several steps you can take to find one that is right for you.
Determine your needs: Before you begin your search, it’s important to determine the services you seek. Do you want someone to execute trades at your direction? Do you want unbiased, one-time advice on, say, portfolio construction? Perhaps you want ongoing management? Or maybe you want comprehensive wealth management services. By understanding what you’re looking for, you can better assess an advisor’s offering.
Research investment advisors: You can start getting the names of potential advisors by looking up “investment advisor Lehi UT” on Google. But if you’re looking for fiduciary advisors, be aware that the search results won’t be limited to them. You’ll want to check their websites to determine whether they are fiduciaries and the services they offer. You can get background information on SEC- and state-registered firms and advisors by visiting the SEC’s Investment Adviser Public Disclosure database. You can do the same for brokers by using FINRA BrokerCheck.
Schedule a call: Schedule a consultation with potential investment advisors to determine which one is right for you. You’ll share your concerns and goals and discuss how the advisor might help. You can also ask about their investment philosophy, experience, services, and fees. This call can help you determine which advisor you want to move forward with.
Ask for references: Ask each investment advisor for references from current or former clients. Contact these references to get an idea of the advisor’s quality of services.
Move forward: You’ll want to choose an investment advisor who meets your needs and with whom you feel comfortable. From there, your advisor will have a process for moving forward that includes understanding your financial situation, drawing up recommendations, and implementing them.
Our fiduciary Registered Investment Advisor (RIA) firm offers a 15-minute call to discuss your concerns and situation. Schedule a call today.
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.