4 questions you need to ask to find a financial adviser you can trust

I’ll let you in on a little secret: Even money experts can feel intimidated when walking into a financial adviser’s office for the first time.

There are a few reasons for this nearly universal financial imposter syndrome. To start, money choices are emotional and psychological, which means we’re all carrying baggage into every meeting with an adviser.

But financial planners don’t always make it easy to unload your psychic luggage. Often, they will greet you with a wall of jargon, reassure you without really explaining, or condescend to you. This can be intentional since it’s easier to convince a confused or daunted client to accept help.

Of course, there are excellent financial advisers out there who can aid your financial planning. It’s just that finding a good one when you’re already nervous about money can feel like a tall order.

Don’t let your nerves get in the way of finding a trustworthy adviser. Here’s how to do it.

Commit to steering your own ship

If dealing with financial tasks makes you break out in hives, it’s only natural that you might want to find a trusted financial adviser to take care of the minutiae for you. You pay them and they make sure your money is growing appropriately. It feels like a win-win.

But accepting an adviser-client relationship where you do not have to make decisions is a recipe for disaster. No matter how trustworthy an adviser may seem, you should not give up your agency over your money. Because no one will care about your money as much as you do.

That means the financially nervous need to commit to learning enough about finance to make their own decisions. Your financial adviser may know the map, but you need to steer. Which is why you should lose the phone number of any financial planner who offers to take care of everything on your behalf. (You don’t want to end up on the list of savvy investors who were taken in by the next Bernie Madoff or Sam Bankman-Fried.)

Conduct job interviews

It’s easy to forget that your adviser works for you. Their expertise can feel off-putting since it seems like you are the supplicant requesting arcane knowledge from the wise master.

But the power in the adviser-client dynamic belongs to you. The adviser isn’t doing you a favor by offering you advice. You are their employer.

Keeping that fact in mind makes it easier to treat the process of finding an adviser like a series of job interviews. You are trying to find the right person for the open position of financial adviser, and so you’ll ask some tough questions to help you narrow down your search.

Specifically, you should ask potential advisers the following questions:

1. What licenses and certifications do you hold?
2. What’s your area of expertise?
3. How are you compensated?
4. Describe your ideal client.

It’s also a good idea to ask potential advisers to repeat back the financial goals and objectives you explained during the meeting. This isn’t just to check if they were paying attention. In many cases, a good adviser can help you clarify your thoughts about your money.

Take your time

For a lot of people, a funny thing happens when they realize they need a financial adviser. Suddenly, the need for advice seems urgent with a capital URGE, and it feels like you must acquire the adviser right away so you can start making good money decisions.

There are excellent reasons for this sudden-onset urgency. Most of us don’t have the attention span to draw out the process of finding a financial planner, so we try to strike while the get-it-done iron is hot. Additionally, if you’re feeling insecure about your financial situation or decisions, it can seem like any delays will just hurt your money goals.

Still, finding the right financial adviser is not a quick process. Educating yourself about money and treating potential adviser meetings like job interviews will slow you down, which can feel intolerable if you’re in the midst of a “I need a money guy, like, yesterday” decision binge.

But with the possible exception of fleeing a burning building, taking your time always has better results than rushing. When you are looking to hire a financial adviser, expect the process to take time and plan for it. Setting aside an hour each week can help break the process down into manageable chunks. This might include things like reading up on retirement and investments, researching local advisers, asking for referrals from your network, and scheduling preliminary appointments.

And before you assume that getting a referral can help you skip some of the other legwork, remember that you should always do your due diligence with a potential adviser, even if they come recommended by someone you trust. Start by accepting the time commitment required to find a trustworthy adviser. You’ll be better informed and happier with the advice you get.

The real treasure is your new confidence

Committing to your financial agency, conducting your search like a series of job interviews, and recognizing that it will take time to find the right adviser will increase your confidence and ensure you find an adviser you can trust. And while financial advisers can help you make the most of your money and alert you to issues and opportunities you might otherwise miss, you are in the driver’s seat—not your adviser.

That’s important to remember anytime you’re feeling intimidated.