Are you ready to feel more confident and in control of your finances? Then it’s time to consider working with a financial advisor.
Kevin Engbers, CFP®, CEPA®, Wealth Advisor, CEO & Founder of Pinnacle Wealth, shares his insights on what to look for as you start to narrow your search. We’ve put together a quick, easy-to-follow guide based on his decades of experience to help you spot the key qualities of a financial advisor. This guide will help you feel confident you’re asking the right questions to start to take the steps toward building a successful partnership with a financial planner.
Integrity Matters as Much as Credentials
The first thing you might look for is credentials. However, while designations such as Certified Financial Planner (CFP®) are good indicators of professionalism and expertise, what truly sets a great planner apart is their character. “Credentials show competence, but character shows commitment,” Kevin explains.
Kevin emphasizes integrity with a memorable analogy. “Someone who washes their hands in a public restroom when no one is watching is the type of integrity to look for,” he states. Find a professional who is committed not just to your portfolio, but to your values and goals.
If an advisor focuses primarily on your net worth or investable assets during initial conversations, Kevin suggests you may want to explore other options. “You want an advisor who really operates with integrity, transparency, and more importantly, empathy,” he says.
The Importance of a Fiduciary Relationship
One of the critical attributes to seek in an advisor is a fiduciary obligation, which is the highest standard of care that an advisor can provide to their clients. When asked how to discern if an advisor is truly acting in their client’s best interest, Kevin explains, “Ask them to define fiduciary and how they carry it out day-to-day.”
The compensation structure can be another telltale sign. “If they’re paid by commission, that can sometimes be a conflict,” Kevin states. Those who operate fee-based are more likely to prioritize your best interests over pushing specific products.
Questions to Ask Before Hiring
Don’t hesitate to ask potential financial planners pointed, targeted questions to better understand their approach. Kevin recommends starting with these key inquiries:
- How many client relationships does each advisor at your firm manage? This helps gauge the level of attention you might receive.
- How does the advisor define success for client relationships? Make sure their definition aligns with your personal and financial aspirations.
- How will you help me make decisions during volatility or unexpected life changes? This reveals how proactive and supportive they will be during challenging times.
- How do you help clients stay aligned with their values, not just their investments? Values-based financial planning can provide you with deeper fulfillment beyond monetary gains.
“A good advisor will usually welcome these questions and answer them with clarity and conviction,” Kevin explains. “If you feel heard, respected, and not rushed, that’s a good start.”
9 Characteristics of a Good Financial Planner
Once you’re ready to narrow down your options, keep these qualities top of mind to identify the right fit for you and your goals.
1. Are They Focused on More Than Just Money?
“A great advisor doesn’t just manage money,” Kevin Engbers explains. “Look for someone who understands that true wealth includes your values, your vision, your relationships, and your legacy—not just your net worth.”
2. Do They Ask You About Your Purpose First?
“Your money should serve a purpose, not be the purpose,” Kevin emphasizes. If the conversation starts with sales pitches or performance metrics instead of questions about you and your life, it might be time to look elsewhere.
3. Can You Understand What They’re Saying?
Financial matters can often feel overwhelming, but a trustworthy planner ensures clarity. They’ll avoid jargon and explain strategies in simple terms. “Simplicity doesn’t mean watered down,” Kevin notes, “it means empowered.” A great advisor ensures you not only know what your plan entails but also why it’s the best path forward.
4. Are They Independent and Objective?
Advisors tied to specific companies may face limitations on the products or services they offer. Kevin advises asking whether they are independent and how they are compensated. “An independent fiduciary advisor is committed to putting your interests first, not meeting any kind of sales quota.”
5. Do They Offer Comprehensive Planning?
Real financial advice covers more than just investment strategies. A comprehensive planner considers everything from taxes and retirement to estate planning and risk management. “You deserve a coordinated big-picture approach,” Kevin states, “not piecemeal guidance or reactive strategies.”
6. Do They Stick with You Through Life Changes?
Life is full of transitions, and a true advisor will support you every step of the way. “The best advisors help you adjust, adapt, and stay aligned through evolving goals and life transitions,” Kevin shares. Whether you’re navigating career changes, family dynamics, or planning for retirement, a great advisor walks with you for the long haul.
7. Do Their Clients Have Good Experiences?
Don’t hesitate to ask for references or client testimonials. A great track record is reflected in long-term relationships built on trust and positive impact. Kevin advises, “The right advisor earns long-term trust, not just short-term business.”
8. Do You Feel Heard and Respected?
An important but often intuitive question is whether the advisor treats you with respect and understanding. “You should never feel talked down to, pressured, or treated like an account instead of a person,” Kevin says. A great advisor listens to you, values your input, and ensures your voice is central to the planning process.
9. Do They Hold Personal or Professional Designations?
Credentials matter. “I strongly encourage you to find an advisor—or even better, a team—that has at least one Certified Financial Planner professional on staff,” Kevin recommends. Professional designations signal expertise, commitment to ethical standards, and a dedication to ongoing education.
How to Work With a Financial Planner
A common misconception is that financial planners are solely investment managers or stock pickers. Kevin strongly disagrees with this outdated view. “The best advisors today are really more like life planners,” he says. “They strive to help you align your money and to give your money meaning. A legacy is something that should be lived, not left.”
In accordance with this thought, a financial planner should be seen as a guide rather than a gatekeeper. “It should feel like a relationship that you can grow with; someone who will still be in your corner when chapters change in your life,” Kevin notes.
“The one thing we always request is for the client relationship to be open. You need to share the things that feel messy and uncertain, not just your polished pieces. And that’s when we can do our best work,” Kevin explains. No matter what you’re facing in your personal life, inviting your advisor into these moments early ensures you can maximize their guidance.
Pinnacle Wealth Focuses on Adding Value to Your Life
At Pinnacle Wealth, our core philosophy is rooted in their concept of True Wealth. “True Wealth,” Kevin explains, “is the freedom and confidence to live life on purpose.”
“Financial success without personal fulfillment is shallow,” Kevin explains. This is why we help clients define their personalized version of true wealth early on—it acts as a compass, grounding their decisions and guiding them through uncertainty.
Take the First Step
If you feel overwhelmed about where to begin, Kevin’s advice is simple, “Start with a conversation, not a commitment. The right advisor will help you ask the better questions and ensure they’re the right fit.”
At Pinnacle Wealth, our team is deeply committed to crafting financial strategies centered on your values, purpose, and goals. Contact us today to start your financial planning journey.
