Skip to main content

What to consider when choosing a financial advisor


We are often asked what people should consider when looking to hire a financial planner or advisor. 

The most important criteria is whether you feel comfortable with that person and are able to share with them very personal and sensitive information.  If you cannot share this kind of information with your financial advisor, the value that they add will be very limited.

They should have earned the Certified Financial Planner designation and have been doing financial planning full time for at least five years. 

It is very important that your advisor is a great listener and able to explain very complex issues at the clients’ level. 

They should be independent from any entity that sells financial products, such as banks, brokerage houses, or insurance companies.  However, they should be overseen and regularly audited by an independent entity to ensure they are compliant with all rules and regulations.
The way that they are compensated should be flexible (i.e., flat fee, hourly, product commission, percent of asset) and fully disclosed to each client and prospective client.
Also very important is that they should be passionate about what they do.  Financial planning should not just be a job to them but a calling.

Morningstar developed detailed questions to ask your existing advisor or one you are considering hiring. For our Firm’s answers, please refer to the “Financial Advisor Interview” PDF file on the home page of our web site at www.whitehousellc.com
White House Financial & Settlement Consulting helps families live an easier and less stressful life through the proper management of their financial resources.  We do this by acting as our clients’ trusted advisor providing a personal touch customized to the client’s needs!  Please visit our web site at www.whitehousellc.com for more information!

Popular posts from this blog

Michigan Association of Justice Workers Compensation Seminar

We had an awesome time at the Michigan Association of Justice Worker's Compensation seminar where Cyril spoke on the best strategies for using structured settlements in Worker's Compensation cases. Click the link below to watch the short video of his presentation!   Click Here to Watch Video! www.whitehousellc.com

Using a structured settlement annuity pre-suit

 We recently were engaged by the Guardian Ad Litem (GAL) in the case of an 11 year old boy who was struck by a care while riding his bike.  The father of the boy settled the case directly with the liability auto insurance carrier pre-suit and the GAL contacted us to ensure that the boy's settlement funds were handled appropriately. The case settled for a total of $65,000 and $59,000 was being allocated to the structured settlement annuity for the boy as follows: $5,000 paid immediately upon settlement $10,000 at age 18 $20,000 at age 21 $25,000 at age 25 $35,718 at age 30 this is total benefits of $95,718! The annuity was placed with a large life insurance company rated A+ by the A.M. Best rating agency and provided the family and GAL with the peace of mind that the young man would not receive the entire amount at age 18. In addition, due to the use of the structured settlement annuity, all of the interest gained during the payout period ($31,718 to be exact) is INCOME TAX FREE!  T

Thomas Bond Benefits of Structured Settlement Video

Please watch this excellent video where e xperienced and successful personal injury attorney, Thomas M. Bond from the firm of Kaplan/Bond in Boston tells you why a structured settlement is the best choice for the longterm financial security for you and your family when your lawsuit settles for a large sum. Hear how one man made the wrong choice and tragically lost everything. www.whitehousellc.com