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Chicago Financial Advisors

The baby boomer generation is in the prime of life and retirement is quickly approaching for them. Now is the time they start taking a hard look at their financial portfolios. It’s never too early to be looking at investing, so nearly every generation will benefit by a financial planning consultation.

The economic instability, changes in social security, health care reform, and changing tax laws have made retirement planning more complex than ever. Getting the advice of a financial advisor at any stage of life can help you reserve and increase your financial assets, so they will be available when you need them during retirement.

The Role of Financial Advisors

A financial advisor outlines a long-range system and plan to help you manage and grow your net worth today and in the future. An experienced financial advisor gets to know more about you, your family, your lifestyle, and your financial goals, so that your financial plan matches your goals and desires. In addition to planning and managing your funds, your financial advisor serves as your financial expert. This means that your financial advisor will help you understand the impact of issues that affect your wealth including Social Security, taxes, mortgages, insurance, debt healthcare, and longevity.

Finding Financial Advisors in Chicago

Chicago is the third largest city in the United States, and with thousands of financial advisors working in and around the city, finding a qualified financial advisor with experience can be a daunting task. Selecting a financial professional is a subjective choice and it’s one that should be made carefully because of the large amount of personal information clients will need to share. Below are a few places listed to help narrow the search.

The Chicago Fee-Only Financial Advisor’s Network

Look for the best financial advisor in the membership of the Chicago Fee-only Financial Advisor’s Network. Each member is an independent business owner and is accepted by invitation only. Fee-only advisors charge based upon your financial portfolio’s performance, so you know that your advisor is working hard on your behalf. All members are registered with the SEC or the state of Illinois as a Registered Investment Advisor.

CFP Board

The CFP Board was founded in 1985 to promote professional, competent, and ethical financial planning services. Financial advisors need to meet CFP’s benchmarks for education, ethics, experience, examination in order to become CFP certified. CFP offers a searchable online database for finding certified financial advisors. If you’re looking for a particular specialty, you can perform an advanced search to narrow your choices further.

You can also use the search engine to find out if a financial advisor has the certification, as well as whether they’ve been disciplined or filed bankruptcy.

Your Personal and Professional Networks

Don’t overlook the power of referrals. Ask around your family, friends, and professional networks if they have a trusted financial advisor. Find out what they like and dislike about working with their financial advisors. Chances are that if a particular advisor works well for someone that you know, you will be just as happy as a client. If the same name comes up over and over, you’ll likely have a good candidate to interview.

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