Financial Advisor Los Angeles: How to Choose One

We’ll make things even easier and tell you the conclusion, too. You need to consider a firm like Pillar Wealth Management. We have been working with high net worth individuals and families for more than six decades altogether. Our extensive experience and in-depth knowledge of the market allow us to develop smart strategies and distinctive solutions to ensure our clients attain financial prosperity and serenity. Schedule a free conversation with us to get started on your wealth management.

In this blog, we’ll be discussing how to choose the right financial advisor Los Angeles, when you should hire one, and whether it’s a smart decision. Let’s begin.

Table of Contents
How to Choose the Right Financial Advisor Los Angeles When Should a Financial Advisor be Used? Final Thoughts

Finding the Right Financial Advisor Los Angeles: 5 Key Questions to Ask

Choosing the right financial advisor Los Angeles is one of the most important decisions you will ever make. This decision will not only affect you but also impact your heirs as well after you’re gone. Considering that, it’s crucial that you take the time to carefully choose the best financial advisor for yourself.

Accordingly, to do that, you need to ask them the right questions. Now, you might be thinking, how do I prepare for a financial advisor interview? The only preparation you need to do is think about what you want from that advisor and know what to ask.

We can’t help you with that first matter, but we can suggest some things to ask. You can also contact our advisors directly and discuss how we can help you.

1. Ask About Their Clients

When looking for a financial advisor Los Angeles, you shouldn’t be asking, “How many clients should a financial advisor have?” Rather what you should be asking is what kind of clients they deal with. Ideally, the right financial advisor Los Angeles will be the one that exclusively deals with high net worth individuals and is well-acquainted with their needs.

Similarly, another question you can ask a financial advisor Los Angeles is how many clients tend to stay with them. The real feat is not having hundreds of clients but retaining whatever clients they do have. Only when financial advisors provide a good service, their clients will stick with them.

2. Ask About Their Experience

While it’s true that everyone starts somewhere, you don’t want a fresh financial advisor Los Angeles to practice their craft with your hard-earned $5 million to $500 million worth of liquid assets. Rather, you want someone that is well-experienced and knows everything there is to know about handling your wealth and assets. A financial advisor Los Angeles should know the market inside out and all the little tips and tricks that help them develop smart portfolio strategies for you. Learn more about how you can maximize your portfolio growth strategies from our handy guide.

3. Ask About Their Standard of Care

Another important question you can ask is about their standard of care. There are those financial advisors who follow the fiduciary standard, and there are those who don’t. While you can find out this information yourself as well, it’s always easier to ask them directly.

You should always go for fiduciary financial advisors as they don’t have any conflict of interest with you and put your best interests ahead of their own. Read our exclusive guide on choosing the right financial advisors for investors worth $10 million or more to learn why a conflict of interest can be dangerous for you.

4. Ask About Their Services

You should ask them about the services they offer. If you need investment management and retirement and estate planning along with it while a financial advisor only provides investment management services, they wouldn’t be a good fit for you. Moreover, you should also inquire how experienced they are at offering those services and whether they provide customized services.

5. Ask About Their Strategy

This can be a bit of a technical question, but how well they explain their strategy and plan to help you meet your goals can reveal a lot about them. If the financial advisor simply keeps claiming to make you rich and bring excellent performance numbers without any solid plan, it can be a warning sign.

In fact, such performance is meaningless anyway, and you can find out why by reading our detailed guide on how to boost portfolio performance. Moreover, for other warning signs, you need to watch out for, you need to go through our extensive guide on the best financial advisors.

The right financial advisor will have a well-thought-out plan based on research and data to help you accomplish all your goals. Reach out for a free chat with our advisors to discuss your financial goals.

When Should a Financial Advisor be Used?

Normally, most people start out managing their wealth on their own. However, as time passes and they progress in their careers and diversify their assets, it can get increasingly hard to manage everything on their own.

Therefore, as soon as one realizes that they lack the time or skills to effectively and efficiently build and protect their wealth, they should hire a financial advisor Los Angeles. Discover other ways to build as well as protect your wealth from our informative book, The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies for Families Worth $25 million to $500 million.

Final Thoughts

If you’re still wondering, ‘is it smart to have a financial advisor?’ the answer would be a big yes. Financial advisors are experienced and highly skilled professionals who have extensive knowledge when it comes to developing the right portfolio strategies, allocating assets, money management, and overall wealth management. Therefore, they can handle and deal with your wealth and assets in a much smarter way.

Pillar Wealth Management has wealth managers and advisors that have been working with high net worth families for more than thirty years. We offer a wide range of investment, financial and advisory services. Our fiduciary financial advisors believe in helping our clients meet their life goals, and that’s why we offer personalized financial solutions based on each client’s unique situation. Schedule a no-obligation consultation session with us today.

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