4 Questions to Ask When Choosing a Wealth Management Firm

Choosing a wealth management firm can be an intimidating process.

Reaching out to different advisors without knowing where to start can land you in a sea of emails and offers. Hundreds of wealth management firms will be pining for your business.

With so many options, how do you weed out the firms without your best interests in mind?

All advisors aren’t made equal. It’s essential that you first consider what it is you’re looking for and if those firms can deliver the results you want.

So, what criteria do you look for?

We’ve put together four questions that will help you begin to identify the best wealth management firm for you.

1. What is their availability?

An advisor isn’t someone you’ll call at odd hours to ask about your portfolio. You won’t call them every day to check in on how your investments are doing. But, this is someone who you will be in contact with on a fairly regular basis. Ask your advisor how often they meet with clients, when you should expect to hear from them, and when you can check-in to discuss your investments.

Get a feel for how they prefer to communicate—phone, email, in-office appointments—to ensure that it fits your expectations.

2. Who is their ideal client?

Understanding the types of clients this investment firm usually works with will help you get a feel for their expertise. Do the majority of their clients have $50,000 to invest? Or maybe $500,000? Whichever category you fit into, you want to ensure that your wealth management firm has adequate experience working for clients with similar standing.

3. How do they align your investments with your financial goals?

Every wealth management firm will approach your finances differently. Even if they all keep your financial goals in mind, they will have a different investment philosophy to help you reach those goals.

Ask the advisor to explain, in simple terms, how they invest your money and how their process has worked for other clients. Note that no two clients have the same financial situation; however, the advisor should be able to support their claims with past experience.

4. Do their services meet all of your financial goals?

You want to choose a firm that offers services to fit your unique goals. For example, some Southwestern clients’ goals focus on charitable giving. Take a look at the services each wealth management firm offers to find the one that suits you best.

Choosing a wealth management firm is a delicate process. You want to choose an advisor who listens to your needs and finds well-balanced options, instead of looking at you as a source of income. Find an advisor who provides a personal, intimate service level that makes you feel taken care of.

The advisors with Southwestern Investment Group manage your assets with your best interests in mind. We are a fiduciary group that works closely with you to understand your finances and provide you with the best possible client experience.

Contact us to learn how our holistic approach can help you reach your long-term investment goals.

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