Financial Advisor - Specialties

I’m Miriam Neff, and I’m Valerie Neff Hogan, with Wise Women Managing Money.

M We can gain financial wisdom from others.  We’ve been giving tips on how we can chose a wrong advisor.  Here’s tip number 3. Do not hire an advisor with the wrong specialty.

V Some financial advisors specialize in retirement planning, while others are best for business owners or those with a high net worth. Some might be best for young professionals starting a family. Be sure to understand an advisor’s strengths and weaknesses - before signing on the dotted line. Will you need advice on budgeting, investing, or other areas?  Just as lawyers have specialties, so do financial advisors.  Know and define what you need, and select one who matches.  Do not choose an advisor with the wrong specialty.