Article Themes - 1
The major themes of the articles in rows 10-28 of the attached spreadsheet were identified. Some common themes include asking for referrals, knowing and understanding credentials and looking for advisors with years of experience were some common themes identified.
- Several of the articles discussed asking for referrals from friends and family when looking for a financial advisor.
- Many identified knowing and understanding a potential advisor's credentials as an important element of finding a financial advisor.
- Years of experience was another common theme, with many of the articles recommending that people looking for an advisor find someone with years of experience.
Article Themes - 2
The main themes for each article in rows 29-46 of this spreadsheet were identified. Some common themes include prioritizing fiduciaries, understanding the credentials of advisors, and checking their fee structures to avoid a potential conflict of interest. Other repeating themes are listed below.
Article Themes - 3
- One of the main themes in “Choosing a Financial Professional - University of Illinois” includes the types of questions to ask when choosing a financial professional.
- One of the main themes in “How to Choose a Financial Advisor | Ameriprise Financial” includes the tools used by an Ameriprise financial advisor.
- One of the main themes in “Choosing a Financial Advisor: An Investor's Checklist” includes the key questions that investors should ask themselves before researching for a financial advisor.
- One of the main themes in “Choosing a Financial Advisor - Arvest Bank” includes the first step to find a financial advisor is to determine your needs or goal.
- One of the main themes in “3 Questions When Choosing A Financial Advisor” includes the importance to feel comfortable talking to your financial advisor.
Article Themes - 4
The major themes of the articles in rows 66-83 of the attached spreadsheet have been completed. Some common themes include knowing the credentials, making sure the financial planner is a fiduciary, understanding the fees, and doing a background check.
- Many identified knowing and understanding the fees are structured.
- Multiple articles recommend hiring a fiduciary because they must act based on the client's interest.
- Doing a background check before hiring a financial planner is a common theme.
- Several of the articles discussed the importance of choosing a financial planner based on their credentials.
Article Themes - 5
The major themes of the articles in rows 84-101 of the attached spreadsheet were identified. Some common themes include ensuring your financial advisor is a fiduciary, checking credentials, understanding fees, finding an advisor who is aligned with your goals and needs and asking about their strategy or approach.
- Several of the articles discussed the importance of hiring a fiduciary.
- Many identified researching credentials before hiring a financial advisor.
- Understanding how fees are structured is another common theme.
- Choosing a financial planner who is aligned with your goals and needs is also mentioned in several of the articles.
- Multiple articles recommend asking about a financial adviser's strategy or approach prior to hiring them.
Article Themes - Top Ten Themes
The top 10 suggestions/themes from the 100 articles listed in the attached spreadsheet have been identified below. The top three themes include conducting a background check and verifying credentials of a potential financial advisor, understanding the compensation structure of the advisor, and ensuring that the financial advisor is a fiduciary.
Top 10 Common Themes
- 26 articles recommend conducting a background check as well as checking and verifying credentials before hiring a financial advisor.
- 18 articles suggest that understanding the fee/compensation model (and commissions) of the financial advisors and how they are paid is important while selecting a financial advisor.
- 15 articles recommend opting for fiduciary advisors as they are legally obliged to act in the best interest of the consumer.
- 11 articles stress on choosing a Certified Financial Planner (CFP).
- 11 articles recommend asking for and verifying referrals/references from potential financial advisors.
- 11 articles advocate that finding the investment approach/strategy/methodology is important in choosing a financial advisor.
- 9 articles advocate that experience should be an important factor while selecting a financial advisor.
- 9 articles suggest understanding one's own financial needs including knowing what services and/or the type of advice needed and the budget is one of the most important factors while selecting a financial advisor.
- 9 articles emphasize the importance of checking qualifications/educational background before selecting a potential financial advisor.
- 8 articles recommend finding out or asking about the services a financial advisor offer before selecting one.
Other Recurring Themes
- 7 articles advocate that it is important to understand the different types of financial advisors before hiring one.
- 6 articles advocate that certifications should be considered while selecting a financial advisor.
- 5 articles suggest choosing a fee-only advisor over a commission-based advisor to avoid potential ulterior motives.
- 5 articles recommended selecting an advisor that can meet one's needs in terms of services and cost.
- 5 articles suggest choosing a financial advisor that understands/aligns with one's financial needs and goals.