Know your financial adviser

Just like planning for retirement, choosing a financial adviser can be much more challenging than it sounds—especially for senior needs. Today, we’re releasing “Know your financial adviser ,” a guide to help you ask the right questions if you’re shopping for an adviser with a title suggesting expertise in senior financial planning.

Here are four things to think about when evaluating a financial adviser’s title or credentials:

• How much training is required? Senior financial planning is a complex field which includes topics like estate planning, income tax laws, and investments. Some titles therefore require college-level coursework and passing tough exams, which can take many months or even years to complete.
• Is your adviser qualified through a training program that holds its members to strict ethical standards? You should be able to file a complaint easily with the organization that issued your adviser’s financial title, as they may discipline or ban members who don’t follow the rules.
• Is your adviser’s financial title accredited? Accredited programs have taken important steps to ensure the quality of their training.
• >Does the adviser have an extensive background working with a specialized group like military retirees? Just because someone calls themselves a veteran’s adviser doesn’t mean they know anything about military retiree pay systems, veteran benefits, or even the military, for that matter.