2019 Best Financial Advisor NYC and WNY
You should start your search with financial advisors who advertise a “fee-only” approach.
Doing so increases the level of transparency and, as a result, tends to result in (much) lower fees.
Before you talk to anyone, you need to take a hard look at your situation, and answer a few questions:
- Why do you need a financial advisor in the first place?
- What are your financial goals?
- Do you have special circumstances, like an unusual tax situation, specific healthcare needs, multi-generational requirements (i.e. taking care of parents AND adult children)? Do you need to set up a trust or estate? Do you own a business which contains the majority of your wealth?
- What do you know about financial planning and investing? Are you completely ignorant, or do you already know the basics and just need fine-tuning?
- Do you require regular in-person meetings?
That’s quite a list, but, the more structure you have, the better the search will go.
Once you’ve cleared the first two hurdles of education and fees, find someone you generally like and look forward to getting together with.
Good financial advice is not unlike counseling – the technical answers are in some ways easier than the discovery and implementation.
These relationships require turning over a lot of your financial “secrets,” as well as your hopes and dreams.
This is ok, though, as the right relationships will span decades, often times generations.
In this environment, then, trust may become the most important element of whether the financial plan succeeds.
Find a would-be friend who has mad financial skills and is being (transparently) compensated to keep you financially safe…
What to expect of a fee only financial advisor NYC and WNY
When you sit down with the prospective advisor, you should present your requirements.
Note that they do NOT work for free, so don’t expect them to give you a full financial plan!
However, you should get a detailed proposal, along with a rough idea how they will proceed, and a list of other resources they will bring to bear (estate attorneys, accountants, etc.)
At the end of the day, this relationship may last longer than marriages, it deals with your very personal details such as health, finances, and estates, so deciding if an adviser is right is a very important decision.
If it doesn’t feel right, it probably isn’t, and you should try another adviser. Most advisers offer the first meeting free of charge… this meeting is your opportunity to assess them.
When you find someone who really cares enough to help you achieve your dreams they are worth multiples.
Mintco Financial Fee Only Financial Advisors NYC – WNY
We are an independent and registered investment fiduciary.
Our clients’ interests always come ahead of our own.
We are fee-only advisors.
We use a transparent fee structure as well as hourly rates.
We do not have any hidden fees.
We do not get paid to promote any particular product or service.
We pride ourselves on our comprehensive financial planning approach, our integrity and above all, our commitment to our clients’ current and future well-being.
Contact us today at
Email us at firstname.lastname@example.org
Our meetings can be virtual.