5 Steps on How To Choose A Christian Financial Advisor NOT Near Me (#280)

Financial Advisors Say The Darndest Things

In this episode of Financial Advisors Say The Darndest Things, host AB Ridgeway guides listeners through the process of hiring a Christian financial advisor. The discussion emphasizes the accessibility of financial advisors to people of all income levels and delves into the specifics of different types of advisors, the importance of identifying personal financial needs, and how to choose the right advisor for those needs. Ridgeway also highlights the unique value of Christian financial advisors who align financial planning with biblical principles.

Key Takeaways

1. Financial Advisors for Everyone Financial advisors aren't just for the wealthy; people of all incomes can benefit from their services. They assist with a variety of financial planning needs such as debt management, savings, and investment strategies. Understanding that these services are accessible can empower more individuals to seek professional advice to reach their financial goals.
2. Identifying Your Financial Needs Before hiring a financial advisor, it's crucial to identify your top financial issues. Whether you're worried about retirement, managing investments, or charitable giving, knowing what you need help with will guide you to the right type of advisor. Writing down your primary concerns can clarify whether you need a simple financial coach or a more complex advisor.
3. Types of Financial Advisors There are various types of financial advisors, including fee-only advisors, investment advisors, and Christian financial advisors. Fee-only advisors are paid directly by clients and have a fiduciary responsibility to act in their best interest. Christian financial advisors integrate faith-based principles into their advice, avoiding investments that conflict with Christian values.
4. Understanding Financial Advisor Costs The cost of working with a financial advisor varies based on your financial situation and the services you need. Those with less than $100,000 might benefit from a one-time financial plan, while those with more substantial assets might seek ongoing advisory services. It's also possible to find pro bono financial planning services through organizations like the Financial Planning Association.
5. The Role of Technology in Financial Advising Online financial advisors offer the convenience of remote services, allowing clients to work with advisors across different states without the need for travel. This can be especially beneficial for families spread across various locations. While there is a learning curve with technology, modern tools like Zoom and DocuSign facilitate seamless interactions and document management.

Quotes

1. "A financial advisor is not a luxury only reserved for the ultra-wealthy. Investors of all incomes can work with a financial advisor."
2. "Writing down your top three issues you want to solve will help you decide which financial advisor you need or if you even need a financial advisor at all."

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*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.