In your quest to find the ideal financial advisors, the choices available span from automated digital investment services known as robo-advisors to conventional in-person financial advisors. Straddling the two are online financial advisors and financial planning services. These platforms provide many equivalent services as a brick-and-mortar financial advisor, but operate online to diminish fees.
Here’s how to locate an advisor that suits your circumstances:
Bear in mind your budget. Uncomplicated, digital-only services will typically cost less, while comprehensive financial planning might come with a steeper price tag. It’s prudent to determine your budgetary comfort zone beforehand.
Ascertain what services you require. Perhaps you merely need assistance in selecting investments, or you are after advice on intricate subjects like estate planning or insurance necessities. Your requirements will guide you in choosing the kind of financial advisor required — generally, a robo-advisor suffices for investment management, yet for advanced planning, an online planning service or tradition human advisor might serve you better. (Check out our recommendations for top-notch robo-advisors.)
Decide between in-person or online advice. If virtual meetings with your advisor don’t bother you, opting for an online service usually results in savings. Such services typically also come with lower account minimum requirements compared to traditional investment advisors. Regardless of your choice, it’s paramount to verify qualifications and ensure the advisor observes a fiduciary standard, putting your interests first.
If you’re uncertain how to select the right financial advisor for your needs, starting with a robo-advisor or online planning service is a sensible option — you can always transition to a conventional financial advisor if your situation turns more intricate. The following are our choices for the top online financial advisors.
GREG VAUGHAN
Robert Runkle
