Let’s take a step back from specifically looking for a “financial planner” you can trust. The conversation should start with, how do you find a “person” you can trust. Finding a person you can trust is essential when it comes to handling your money. If you think of yourself as the CEO of your family, then you are tasked with finding a CFO. The CFO is the person you need by your side who is honest and knowledgeable. They also need a leadership style that is complimentary to your own and should fit well within the culture you are creating. A financial planner is more than a person who handles your money, they should be someone you know, like and trust.

Honest and Knowledgeable

What do the people you trust in your life have in common? Among the many traits, they are honest with you and they know what they are talking about. Having someone who is honest but doesn’t know what they are talking about doesn’t help you. Having someone who knows what they are talking about, but who is dishonest doesn’t help you either. You need someone who is going to give the facts as they stand, but they still have a plan to accomplish your goal. They are not there to tell you something isn’t possible as much as they are there to lay out the necessary investment of time and money. Then it becomes your task to decide if it still makes sense to move forward.

Between a rock and a hard place

There is a reason many people do not trust the financial industry as a whole. There appears to be plenty of knowledgeable, intelligent people making a ton of money in the industry. However, when it comes to the clients building wealth, there seems to be a disconnect. The clients are still uncertain about their financial future, wondering if they will be able to retire and live a life where they don’t ever need to worry about money. Even though you may not be able to figure out exactly what’s happening, you know things aren’t right. Yet, you feel stuck between a rock and a hard place because you know there is value in having a financial advisor. You could attempt to handle your finances yourself, but you wonder where you will find the time. It seems complex information is made even more complex just to keep you from figuring out what is going on. Then, you read about the likes of Bernie Madoff who used his knowledge to build a Ponzi scheme that stole billions of dollars from hardworking people. The reality is having a knowledgeable advisor is only the first step. Knowledge can be used to help others or it can be used for selfish gain. Finding an advisor who is educated and wants to use that wisdom for their clients is a key step to finding an advisor you can trust.

Honesty is the best policy

The beauty of honesty is everyone expects honesty. It is the basis of all relationships. You enjoy sincere and authentic people because you want to know where you stand with someone. You don’t want to spend time guessing whether someone is sharing their true feelings or motive. Even if you don’t always agree with them, you enjoy the fact you don’t need to worry about whether they are holding ill-will or resentment. Honesty is the basis of all meaningful relationships and your relationship with your financial planner is no different. You know things are not always going to go according to plan, but you want to know your financial planner will always tell you the truth.

An honest advisor is going to admit when they are wrong and when the plan needs to be revisited. They will acknowledge when you are being overcharged and services are being underdelivered. An honest advisor prides herself on giving you the information you need to make an informed decision. They are not trying to convince you to go against your conscious. Instead, they are helping you make decisions that feel intuitively right to you.

A proud and meaningful legacy

William Shakespeare says, “no legacy is so rich as honesty.” When looking for a financial planner you can trust, you want to see if they can build meaningful relationships. Studies show honest people want to portray their true and authentic selves in a respectful manner. The reality is everyone wants to be accepted for who they are, but many are too worried to show their authentic self. Honest people find it exhausting to portray themselves as something they are not. They don’t see the value of maintaining a relationship if it requires them to be something they are not. Because honest people cannot tolerate being around liars, they tend to be surrounded by other honest people.

They have an open mind that prioritizes honesty over conformity. As a result, they end up having a diverse group of personalities who share honesty above all else. When looking for a financial planner you can trust, it is both of your responsibilities to be true to yourself. You can usually tell if there is a connection, but even if you aren’t initially sure, you can review the relationship periodically. I am a believer you make the best decision with the best information you have. As you gain a fuller picture, you should revaluate your decision.

Passion for helping others

A financial planner you can trust will put the interests of his clients above his own. This is clearly outlined as the fiduciary duty of an advisor. However, there is a difference between compliant and ethical. You want to find an advisor whose goal is not simply to be compliant, but to be ethical. It is the responsibility of a trustworthy financial advisor to understand your goals and desires. Then they are tasked with creating a blueprint to help you achieve those goals. This blueprint should take into consideration your current situation, your dreams, and your fears. Then, like an architect, your financial advisor will construct the plans to turn your dream into reality. This is essential role of a financial planner because most people are unable to accomplish their dreams due to financial constraints. The reality is 65% of people are retiring broke every day and more than 80% of families are living paycheck to paycheck. Even though people are facing different life scenarios, there is a consistency of financial challenges that lets you know people are looking for help.

Final thoughts

To find a financial planner you can trust, you need to focus on whether the advisor is honest and knowledgeable. Does the advisor specialize in the type of planning you need? Does she have a certification or advanced degree that highlights her ability to address your financial situation? In addition to being wise, does the advisor expect you to be honest and forthright in the relationship? Honest people prioritize authenticity and don’t have patience for lies. You will find honest people are happier and healthier people too.

By finding a financial planner you can trust, you can build a long-term relationship that will give you peace of mind and bring your life into financial balance.

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