What to Look for When Hiring or Changing Your Financial Advisor

The relationship between a client and their financial advisor is one of the most important professional partnerships you’ll develop. At HTB Wealth Advisors, we understand how critical this connection is. When it works well, it provides clarity, confidence, and a roadmap to achieve your goals. When it doesn’t, it can create confusion and derail your plans. Whether you’re hiring an advisor for the first time or considering a change, here’s what to look for. 

Recognizing When You Need Professional Guidance

Working with a financial advisor isn’t about age or income—it’s about complexity. If you’re balancing student loans with retirement savings, managing equity compensation, running a business, planning for a blended family, or approaching retirement, professional guidance can make a big difference. 

A qualified advisor looks beyond investments, offering tax strategies, cash flow planning, retirement solutions, and estate coordination—all tailored to your goals. The right advisor listens, clarifies what you want to achieve, and builds a personalized roadmap to get you there. 

Warning Signs It’s Time for a Change

If you already work with an advisor, evaluate whether the relationship still meets your needs. Red flags include: 

Communication Breakdowns

Poor communication is the #1 reason clients leave their advisors. If calls and emails go unanswered or updates are rare, you’re not getting the value you deserve. 

Your advisor should: 

• Respond promptly to questions. 
• Offer regular check-ins—virtual or in-person. 
• Proactively reach out during major life events or market volatility. 

 A financial plan from years ago may no longer fit your current situation. Marriage, career changes, inheritance, or economic uncertainty require adjustments. If your advisor is silent during these times, that’s a warning sign. 

Tip: Communication should go both ways. Keep your advisor informed of life changes, and expect the same level of engagement in return. 

Discomfort and Distrust

If meetings feel stressful or uncomfortable, it’s time to reconsider. You should never feel anxious about asking questions or sharing financial details. 

The right advisor: 

• Creates a judgment-free environment. 
• Explains recommendations clearly. 
• Builds trust and mutual respect. 

If you leave meetings feeling confused or uneasy instead of reassured, that’s a valid reason to seek a new advisor. Financial planning is personal—comfort and trust are essential. 

Generic Rather Than Personalized Advice

Your financial plan should be tailored to your unique goals—not a one-size-fits-all template. If your advisor gives cookie-cutter recommendations or lacks expertise for complex needs (business ownership, equity compensation, significant wealth), it’s time to seek someone with specialized knowledge. 

Fees That Don’t Match Value

Know what you’re paying—and what you’re getting. Advisors use different fee models, such as: 

• AUM fees: Typically 1–2% of assets managed. 
• Hourly rates: $120–$300. 
• Flat or subscription fees: For one-time plans or ongoing service. 

If your situation has changed or you’re paying premium fees for minimal service, it’s time to reassess. 

Essential Criteria for Selecting an Advisor

When hiring or changing advisors, focus on these key factors: 

• Fee Transparency: Clear, upfront explanations of costs and services. 
• Credentials & Experience: Look for CFP®, CFA, or CPA designations and relevant expertise. 
• Fit & Communication Style: Comfort matters. Choose someone whose approach and communication match your preferences. 
• Comprehensive Service: The best advisors offer full planning—cash flow, tax strategies, retirement, and estate coordination—plus ongoing support as your life evolves. 

Questions to Ask

Come prepared with questions that reveal their expertise and approach: 

• What’s included in your fee structure? 
• What certifications and specialties do you have? 
• How do you tailor plans for clients like me? 
• How often will we communicate? 
• How do you handle market downturns and tax law changes? 
• Can you share examples of similar client success? 

Navigating the Transition

If you decide to switch advisors: 

• Review your current contracts for fees or transfer restrictions. 
• Notify your advisor professionally—phone, email, or letter. 
• Gather important financial documents before closing accounts, or have your new advisor coordinate the transfer. 

Building a Lasting Partnership

Once you choose an advisor, set clear expectations for communication and decision-making. Keep the dialogue open, review your plan regularly, and update your advisor as life changes. The right advisor will adapt with you—because your financial needs today won’t be the same five years from now. 

Personalized Guidance When You Need It

Finding the right financial advisor—whether for the first time or as a replacement for inadequate service—is worth the effort. The best advisor-client relationships are built on trust, transparency, and a shared commitment to your financial success. A qualified advisor brings not only technical expertise but also serves as a trusted partner to help you navigate life’s financial complexities with confidence. 

At HTB Wealth Advisors, we provide comprehensive guidance tailored to your unique circumstances. Our team works with individuals and families at every stage of their financial journey, offering personalized planning that goes beyond investment management to include tax strategies, retirement planning, and wealth preservation. 

Ready to take the next step? Start with a no-cost investment assessment. It’s an easy way to review your current portfolio, identify opportunities, and see how personalized planning can help you achieve your goals.