Broker Check
Do you have a Financial Professional? | Choosing the right one!

Do you have a Financial Professional? | Choosing the right one!

March 30, 2023

Let's start by asking a few questions.

How do you find a good mechanic?

Why did you pick your doctor/dentist?

How did you find your hairstylist or barber?

How did you find the perfect babysitter?

Why did you start working with your tax professional?

Did you ask a friend, family member, co-worker, a stranger with a great hairstyle, or anyone you would trust to give you an honest referral? When something is of importance or value to you, you will most likely ask someone you know to refer you to a business or professional they have worked with and had excellent results.

Suppose you are not working with a financial advisor and retiring soon; do you know a co-worker who is retiring as well; do they work with a financial advisor? It doesn't hurt to ask. They may say, "Yes," and give you the name of Dixon Financial Group.

Below are helpful suggestions when looking for an advisor and meeting a financial advisor for the first time.

Why do you need a financial advisor? Today’s financial landscape is as complicated as ever. A good financial advisor can help you navigate this complexity so that you can make educated, informed decisions on what is best for you and your family.

  1. Ask for references. Ask your CPA or estate planning attorney. In many cases, they already have a working relationship with a financial advisor. You should also consider asking friends and family members for a recommendation if they are in a similar stage of life and financial situation.
  2. Don’t overemphasize credentials. It seems as though there are many credentials available to financial advisors. Some credentials require significant levels of education, passing scores on exams, and adherence to strict codes of professional conduct. Many credentials, however, can be earned with virtually no effort or education at all. The bottom line is that the decision of what financial advisor to hire should be made based on more than just the letters after their name.
  3. Find a specialist. The term “Financial Advisor” is highly generic and can be used to describe many different types of professionals in the financial services field. When shopping around, find an advisor who specializes in your area of concern. If you had a heart problem, would you rather see your family doctor or a cardiologist? The same principle should apply to your financial advisor.
  4. Ask about education/training. Most financial advisors routinely participate in what are called “advanced training” classes. Many times these classes are heavy on sales training and light on “real” education. If you really want to know what your advisor has studied, ask to see the manual from the last educational conference he or she attended. If it has more sales information than technical information… Beware!
  5. Don’t be afraid to get a second opinion. Your IRA, 401(k), or other retirement accounts may be the largest single asset you own. If you’re not sure about the advice you’ve been given, don’t be afraid to get a second opinion. If an advisor tells you that there’s no need for one, they’re probably not confident in the information and recommendations they provided to you in the first place.

Whether Dixon Financial Group is your first choice or you need a second option, we would be honored to sit down with you. No one would want to walk around having a bad hair day because of a lousy stylist or barber, and DFG does not want you to walk around with financial worries because of wrong information or no information.

If you are a current client, we appreciate your referrals and feel free to share this information. If you are considering working with a financial professional, we would welcome your business.

David S. Dixon, CFP®

Jacob S. Bierstedt, CFP®, ChFC®

Dixon Financial Group, LLC, and LPL Financial do not provide tax advice or tax services. We suggest that you discuss your specific tax issues with a qualified tax advisor. Copyright © 2023, Ed Slott and Company, LLC- Reprinted with permission. Ed Slott and Company, LLC takes no responsibility for the current accuracy of this information.