Consultant Hours
  • Mon - Fri: 5:00 AM - 9:00 PM PT
  • Sat - Sun: 5:00 AM - 5:30 PM PT

Milwaukee Financial Advisors

A financial advisor can take your retirement account to a whole new level. If you are making contributions to a 401(k) account through your employer, a certified financial planner (CFP) can assess your risk and make suggestions to improve and diversify your portfolio, increasing your odds of meeting your financial goals before retirement. Not only that, but a financial advisor can review your current finances to see if you are overpaying in taxes or investment fees.

Milwaukee offers several CFPs in and around the city, but before you hire one you should be aware of the differing pay structures as well as where to find a credible financial advisor in Wisconsin.

When to Start Using the Services of a Financial Advisor

You should start using the services of a financial advisor as early as possible since a CFP can help you get your finances under control and help you meet your financial goals. Any time you face a major life event, such as marriage, divorce, or the death of a spouse, you will need to sit down with your advisor to see if this changes your financial blueprint. If so, the financial advisor can help you realign your goals and make adjustments as necessary.

Financial Advisors in Your Area

The CFP Board of Standards keeps a database with records of certified professionals across the country and you can search by location or name. You can also use the free database on the website of the National Association of Personal Financial Advisors (NAPFA) to locate planners in the area that work on a fee-only basis.

The Better Business Bureau (BBB) of Wisconsin has listings for 60 financial advisor businesses within 100 miles of Milwaukee. Eight of these businesses are BBB accredited.

Choosing a Financial Planner in Your Area

Before you hire the first listing on the BBB’s site, research and interview each prospective financial advisor. You may receive recommendations from your friends and family, as word of mouth is a very powerful testimony. You can also research the advisor’s credentials, certification status, bankruptcy history, and disciplinarian reports on the CFP Board’s website.

As for pay, make sure you have the advisor explain to you their pay structure. Usually this is one of three models.

Some CFPs choose to only charge an annual fee to clients. This can be a percentage of the holdings based on the investment portfolio’s yearly performance.

Other CFPs earn a commission on the investment products you purchase. This can lead to a conflict of interest so make sure your advisor is a fiduciary so that they must put your best interests first in all transactions.

CFPs can charge a fee and earn a commission if they provide several services to their clients. You may like this option better if you need a financial planner for more than just growing your retirement account.

Compare the pay structures with the services offered before choosing a financial planner to service your financial needs.

Learn more about Milwaukee Retirement Planning here:

How Much Does It Cost to Retire in Milwaukee, WI?

What's the Cost of Living in Milwaukee, WI?

Milwaukee Elder Law Attorneys

Milwaukee Senior Realtors

Milwaukee Senior Movers and Downsizers

Milwaukee Neighborhood Guide

Live Like a Local in Milwaukee

Milwaukee Demographics and Lifestyle

Find assisted living in Milwaukee near you.