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How to find a financial advisor

Are you looking for a female financial advisor? You’re not alone in wanting to diversify your options when it comes to financial guidance. Although the field of financial advice has traditionally been dominated by men, there are compelling reasons to consider a female advisor.

Women in the field often excel at relationship building and active listening, qualities crucial to understanding client needs and providing top-notch advice. Additionally, female advisors frequently adopt investment strategies that focus on long-term gains and downside protection, which can be advantageous.

These qualities and strategies can make a significant difference in the return on your investment over time. If this avenue interests you, you have come to the right place. Keep reading to find out how to find a financial advisor and learn about the unique benefits she can offer.

Steps to find a financial advisor

Now that you’re convinced of the benefits of working with a financial advisor, let’s take a look at the steps to find one that fits your financial goals.

Step 1: Set your financial goals

It is worth spending time thinking about and defining your financial goals. Yes, a financial advisor can help you define your financial goals, but you’ll have a better idea of ​​the type of advisor you want to work with if you take some of the initiative yourself.

Start by thinking about the financial situation you want to achieve in the short, medium and long term. Maybe you want to start budgeting or setting aside some savings over the next few months. Ultimately, you may be hoping to pay off debt, buy a house, or invest in a business. In the long term, you should focus on retirement.

Step 2: Understand how a financial advisor works

Your relationship with your financial advisor begins with an open and honest discussion of your financial situation – including your debts, assets, cash flow – and financial goals. Your financial advisor will determine where you are, where you want to be and how to help you achieve your goals. Your advisor can also identify financial areas that may need improvement.

A financial advisor will offer you suggestions and recommendations specific to your personal situation. She will work with you to create a plan and develop strategies to achieve your goals. This could mean creating a savings or estate plan, an investment strategy, a tax strategy, helping you refinance your debts, covering your insurance needs, building an emergency fund or just about anything. what else.

Financial advisors also help you build long-term wealth by investing money and minimizing risk. They can offer investment recommendations or manage your entire investment portfolio.

It is important to remember that your relationship with your financial advisor is ongoing. While you can use their services on an ad hoc basis, most people get the bulk of the benefits by checking in with their advisors periodically. You can meet with your advisor monthly or quarterly to discuss your progress and if your financial plan needs adjusting.

Step 3: Compare prices, commissions and fees

Most financial advisors are compensated through client fees, commissions, or a combination of both. Customer fees can be billed hourly or on a flat rate basis. Most financial advisors charge between $150 and $400 per hour, which can add up to between $2,000 and $5,000 depending on the service you need.

Many financial advisors charge asset-based management fees. These fees represent a percentage of a client’s assets that the advisor will manage. Asset-based management fees are generally charged on an annual basis and are generally around 1% of the entire investment portfolio. If you have a large sum of money to invest, your financial adviser may be willing to charge you less than 1% per year.

Financial advisors may also earn commissions on certain transactions or for selling you specific investment products. Advisors who work on a commission basis might be incentivized to promote products that themselves generate a higher commission.

For this reason, it is important to work with a fiduciary advisor or someone legally bound to act in your best interests. Many people can opt for a paid financial advisor, in order to completely avoid potential conflicts of interest.

Step 4: Get matched with a financial advisor

Ready to be put in touch with a financial adviser? Remember to have your financial goals in mind when you start your search. If you are trying to repay your debts, call on a professional who specializes in this area. If you’re hoping to start a family or save for retirement, focus on advisors who regularly work with clients in similar situations.

Advantages and disadvantages of a financial advisor

When considering working with a financial advisor, it’s important to weigh the pros and cons. Although financial advisors can help you improve your overall financial well-being, they may not be for everyone. Here’s what you need to know.

Benefits of a Financial Advisor

  • Investment expertise and knowledge: Financial advisors are professionals in their field. They have spent years helping people from all walks of life plan their finances and have extensive experience with market fluctuations.
  • Personalized financial planning and investment strategy: Financial advisors talk to you and offer recommendations based on your personal situation.
  • Less risk: Financial advisors create an investment strategy based on your risk preference and can help you stay on track even when the markets go down.
  • Minimize taxes: Financial advisors can offer you solutions that allow you to keep your investments while minimizing your tax burden.
  • Ease: Managing your finances can be a daunting task. Financial advisors allow you to take a hands-off approach while keeping you informed when making critical decisions.

Disadvantages of a Financial Advisor

  • Possible conflict of interest: Unless you are working with a fee-only fiduciary financial advisor, there may be some risk of conflict of interest.
  • High costs for a small investment: If you’re not investing a lot of money, it may not be worth working with an investment advisor who will charge you asset-based portfolio management fees. It might be better to consult on an ad hoc basis.

Find a financial advisor

Looking for more information on how to find a financial adviser? Here are our top picks for the best financial advisors. Look at!

What to know before hiring a financial advisor

You’ll want to shop around for different financial advisors before deciding which one to work with. Most financial advisers offer a free initial consultation. Take advantage of this time to ask them questions about their qualifications, their investment philosophy, if they are fiduciary and how they are paid. Ultimately, go with the investment advisor who you believe understands your situation and your goals.

Frequently Asked Questions


No, but working with a financial advisor has many advantages. In fact, many people choose to have an ongoing relationship with their financial advisor because the benefits usually outweigh the costs.


According to Bureau of Labor statistics, approximately 31% of US financial advisors are women.


To find a Certified Financial Planner (CFP) who specializes in serving LGBTQ communities, individuals can visit the CFP Board website and use their search tool. They can also seek referrals from LGBTQ advocacy organizations, community centers, or financial planning networks. It’s important to interview potential wealth advisors to make sure they understand the unique financial needs and goals of LGBTQ individuals or couples.