What’s your biggest financial fear? Losing your job? Not being prepared for retirement? We’ve all been there! Thinking about the future — especially when things are uncertain — can be scary. But there’s one thing we do know — gaining control of your finances can be empowering.
Finding a good advisor is the first step to preparing yourself for the life you want to live. A good advisor should offer a safe and open environment, make sure you’re doing what you need to in order to be ready for anything, and help provide you with suitable options. There’s no need to go it alone! But there is a need to find the right person. And that can be hard.
So, as a woman who is looking for an advisor that carries the traits that we best relate to — including empathy, patience and thoughtfulness — what key signals let you know that you may have found the right one?
She Asks Questions
If you sit down and immediately are bombarded with a long story of how great she is, and how wonderful her performance in the market has been, and how she is the best person to work with and…and…you probably have your first clue . An advisor should be your partner and will initially want to know about YOU. What your financial goals may be, your financial experiences, and why you are there to see her. You can always ask about credentials, similarly situated clients or ask for referrals.
She Listens When You Speak
If you feel like you have to wait for a pause in the flow of conversation to get a word in edgewise then you may be listening rather than interacting in every one of your appointments. If you want a true partnership — and the ability to gain better financial footing — the person sitting on the other side of the table needs to really hear what you are saying. Also be attuned to whether she asks clarifying questions.
The financial industry is full of complicated jargon – an initial conversation should be easy enough to follow and understand, no matter what your level of experience. She should be attentive to whether or not you understand and provide stories or analogies to help illustrate her points. Many advisors will even use a piece of paper to draw concepts and ideas, tapping into different learning styles. If she can’t make concepts understandable then you may always struggle with communication.
She Uses the Right Body Language
Look for someone who makes eye contact, smiles, and nods to acknowledge agreement or being in sync. If she leans into you it signals that she wants to understand more about your individual financial situation and is there to help you pursue YOUR goals. Remember, you’re not looking for someone who will tell you what to do, but someone who will help you make the right kind of plan.
She Works in The Right Kind of Space
If the meeting space is comfortable and inviting, then you are most likely in the right place. It doesn’t have to be painted pink or have flowers on every desk, but it should be neat, organized and well-maintained. Ideally you want to be in a welcoming, approachable space — somewhere you feel comfortable.
There are many female-friendly advisors out there; however, what suits some women may not suit others. We are all unique in our viewpoint and relationships are subjective — relationships that make us feel comfortable can vary from person to person. In the end, the most important goal is to find an advisor that makes you feel like you are part of the process and wants you to be financially empowered.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Securities and Advisory services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.
The LPL Financial representative associated with this website may discuss and/or transact securities business only with residents of the following states: RI, MA, CT, FL, ME, NJ, OH, PA, NY, DE, IL.