Is it time to find a new financial professional?
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.
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.
One of the world's largest investment managers, we've helped investors succeed by remaining true to our values and approach. We believe in a distinctive way of managing money, an emphasis on research, a long-term view and the recognition of the power of relationships.
Capital Group offers a variety of investment options to help you pursue your objectives — including American Funds, one of the largest mutual fund families in the U.S.
Your financial professional can tell you more about American Funds. Or, you can purchase our funds yourself through an online broker.
If you have worked with a financial professional in the past, you may have some sense of what you’re looking for. These questions can help you sort out some of the important details.
What are the steps necessary to move my account to, or from, your firm?
What types of services do you offer, and how would you incorporate them into my existing plan?
How do you prefer to communicate with clients?
How are you paid for your services?
Can you provide names of other clients like me as references?
A financial professional can work with you to define your goals and create a plan to help make them a reality. From establishing a budget to selecting investments to riding out market shifts, they can help you make decisions based on your specific situation.
Our locator tool can help you find professionals in your area.
Check the background of these investment professionals on FINRA’s BrokerCheck.