How to select a financial advisor

Choosing a financial advisor to work with may seem overwhelming, but it doesnt have to be. You can contact one or more financial advisors via phone or email before you schedule a meeting to ask a few questions. Or you can get to know the advisor during an initial consultation.

As you start your search, think about what type of financial help youll need and what kind of individual youd like to work with. Consider asking your friends and family members for referrals, too. Theyll be able to tell you what they appreciate about their advisor before you contact them. In addition, following the suggestions below may help you find the right fit.

1. Find out about the advisors background and experience

• Ask the advisor why they chose their profession and what they enjoy about their career. How long has the financial advisor practiced? Have they helped clients with needs similar to yours?
• If its important to you to choose a financial advisor with similar interests, ask about any hobbies, interests and associations.
• Learn about any credentials the advisor has including any additional certifications. You can find this information on an Ameriprise financial advisors website or check online with organizations that monitor advisors or award credentials to measure qualifications, advanced degrees and experience. The Certified Financial Planner Board of Standards, Inc. or Financial Planning Association are two you could start with.

2. Pay attention to how well the advisor listens to you

In a preliminary conversation, an advisor should learn a little about you, your dreams and goals. After you meet, the advisor may ask more in-depth questions about your finances, financial objectives, goals and risk tolerance. You should feel that the advisor is interested in you and will be able to provide you with personalized financial planning and advice.

3. Ask the candidate the right questions as you choose a financial advisor

• Have you helped people with goals similar to mine? How will you help me plan for my goals?

The answer may not be a one-time plan or quick fix solution. Generally, emphasizing a long-term strategy with incremental steps is a better way to help you move toward your goals. The advisors answers should also make you feel confident in his or her ability to understand and communicate the factors you need to consider.

What happens if my goals change?

Your plan should be flexible enough to adjust to new needs and goals, a dynamic economy and your own life changes such as buying a new home, having a family, changing jobs or retiring.

4. Make your decision. Assess your conversation or meeting based on questions such as these:

• Has this advisor worked with people like me?
• Am I satisfied with how often this advisor plans to contact me and by what method (in person, by phone, via email)?
• Did the advisor seem genuinely interested in me, my family, my goals?
• Do I feel comfortable with this advisor personally and professionally?

Once you speak to an Ameriprise financial advisor who you feel would be a good fit for you, you can set up a complimentary initial consultation, if you havent already done so. From there, youll be ready to start the financial planning process and an ongoing advisor relationship.

1 TNS is the worlds largest custom research company and the TNS Choice Award recognizes outstanding performance among leading providers of savings and investment services to affluent Americans.

You may not always work with the same advisor over an extended period of time.

The initial consultation provides an overview of financial planning concepts. You will not receive written analysis and/or recommendations.

Ameriprise Financial and its representatives do not provide tax or legal advice. Consult your tax advisor or attorney regarding specific tax issues.

Investment advisory products and services are made available through Ameriprise Financial Services, Inc. a registered investment adviser.

Ameriprise Financial Services, Inc. Member FINRA and SIPC.