Is it time to find a new financial professional?

Ending a relationship often means breaking up with your financial professional too. One study found that 80% of women leave their financial professional after the loss of a spouse. But that doesn’t mean you should sacrifice guidance. The right financial professional can be an empowering partner for the path ahead. It’s all a matter of finding one who’s right for you.


Do your homework

When looking for a new financial professional, ask for referrals and follow up with online research. FINRA’s BrokerCheck® and our financial professional locator tool are good places to start. Once you have a few candidates, conduct some in-person interviews. Ask about their investment philosophy and the types of clients whose money they manage. Some may specialize in single parents, for instance, or retirees.


Check qualifications
Professional certifications and designations may mean nothing to you, but look into them to find out if they require continuing education. Find out how long they’ve been working in this field. Ask them if they are a fiduciary — meaning bound to make decisions in your best interests.


Match your style
Do you like to communicate in person? By phone, text or email? Is a yearly meeting enough, or do you prefer to check in monthly? Make sure they are willing and able to touch base in ways that best meet your needs.


Know the costs
Be sure to understand the cost of the guidance and what you’re getting for your money. Ask if they earn a commission, are paid an hourly rate or take an annual percentage of investment assets (and how much).


Get on the same page
How would they handle market fluctuations? Do they generally favor riskier or more conservative investments? Be sure your financial professional has a clear understanding of what’s happening in your life and you have a clear read on their financial philosophy. Being in sync will help give you peace of mind so you can trust that they are focused on your financial goals.


Ask about transitional help
There may be some paperwork involved when you leave one financial professional for another, so find out if your new financial professional can make it easier. These days, the transition can be as simple as requesting electronic transfers of your accounts. Be sure to review any contract you signed with your current financial professional about terminating the relationship. You may have to put it in writing. If you own investments exclusive to your current financial professional's firm, you may need to cash them out (and potentially owe taxes).


Your work with a financial professional may adjust as financial, career and life goals change over time. You need to find someone you trust and feel comfortable with. It’s both a personal and financial decision, so take some time to consider the right move.


Learn more about the benefits of working with a financial professional.

About us

Learn about how Capital Group has been putting investors first for 92 years and find resources to get you started.

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
Use of this website is intended for U.S. residents only.
On or around July 1, 2024, American Funds Distributors, Inc. will be renamed Capital Client Group, Inc.
This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.