A Guide to Choosing the Right Wealth Management Firm

As many investors seek assistance from wealth managers to help put together a financial plan, it is becoming increasingly important to choose the right firm. There are so many firms fighting for the attention of consumers, but sadly not all of them are capable of delivering impressive results.

Before choosing a firm, ensure you are putting your hard-earned wealth on someone capable of protecting it. Here is a guide to choosing the right wealth management firm.

Verify Credentials

Before settling for an individual firm, sit down with several potential wealth managers. In those interviews, ask the potential manager where he has worked before, whether they are a certified financial planner, and any other qualification they may possess.

Remember, you are the consumer, so the potential advisor should strive to win you. Conduct an extensive background check to verify whether an advisor is a CFP. If you are a novice, research or consult EverBlu on what every certification means and talk to previous clients to access customer satisfaction.


Has the potential firm delivered impeccable results in wealth management in a certain period of time? Be inclined to a firm that has showcased consistent performance for a certain period. The firm should provide references and demonstrate its ability to realize wealth management goals such as income generation, estate tax reduction, and income generation, among others.


To receive consistent income in the highly volatile economic world, a firm must have a range of products and services. Ensure that the potential firm is flexible and open to new opportunities from several providers. It is prudent to know that some wealth management firms may have limited access to liquid investments such as limited partnerships, hedge funds, and private REITs due to various reasons. Additionally, it would help if you also ascertained that the firm has inhouse experts or extensive network with professionals such as CPAs, attorneys, and insurance calculators.

Level of Experience and Competence

Does the potential firm have specialists with vast experience in dealing with complex issues? Don’t just believe when an advisor says he has dealt with hundreds of clients with similar needs. Have a look at his LinkedIn profile to see where he has worked before, and if possible, reach some of his previous clients. Also, ask for specific examples of how he maneuvered complex issues.


There are numerous ways of paying a wealth management advisor. Some charge a certain percentage based on the size of your portfolio, while others charge a commission based on the products your purchase from them. Besides, ask whether the firm has a fee-sharing agreement with experts they recommend to you. Whatever method of compensation you choose, make sure that the advisor’s key objective is to ensure they sell to you a product that blends with your needs.