June 2025
As you approach retirement, your financial strategy should be laser-focused on protecting your nest egg.
But what if your current financial advisor isn't getting you the kind of ROI they should be? Here’s the truth: choosing the right advisor can help optimize your income potential, asset management, and tax strategies
Poor investment choices, overlooked tax savings, and unplanned healthcare costs can drain your nest egg faster than you expect. This can quickly threaten you and your family’s financial security. Choosing the right advisor is crucial to protecting your future.
The Wrong Advisor Could Throw Your Retirement Into A Tailspin
It may be time to switch advisors if you're not seeing the returns and security you expect.
AdviserMatch’s no-cost retirement quiz helps you quickly know if your current retirement strategy is a reliable one.
What You Need To Know:
Recent data from Northwestern Mutual reveals that Americans who use a financial advisor plan to retire a full two years earlier than their peers.
| With an advisor | Without an advisor | |
|---|---|---|
| Feel financially secure | 64% | 24% |
| Have an emergency fund | 84% | 48% |
| A plan in case they outlive savings | 83% | 53% |
| A plan to pay off debt | 79% | 49% |
Source: Northwestern Mutual
How confident are you your nest egg won’t disappear?
When it comes to managing your retirement funds, a one-size-fits-all approach is a risky move. When you get the right advisor, they’ll work with you to create a personalized strategy that satisfies your income demands and lifestyle requirements.
While financial advisors can provide value, their services typically involve fees, and results may vary depending on market conditions and individual financial circumstances.
While having a financial advisor may be your ticket to a beautiful retirement, you need to know how to pick the right one.
Thankfully, there are just a few key questions you can ask your advisor to discover if they truly know what they’re doing. AdviserMatch’s quick advisor quiz helps you know exactly what kind of advisor is a good fit for you.
Can Your Financial Advisor Answer These 3 Questions?
1. Are They A Fiduciary?
This is the single most important question of them all. A fiduciary is more than just a financial advisor because they are legally obligated to put your interests first. If your advisor isn’t a fiduciary, they may just try to sell you on bad investments to take higher commissions for themself. This means you can trust that the advice you’re receiving is designed to benefit you, not the advisor’s bank account.
2. Is Their Advice One-Size-Fits-All?
A good financial advisor takes the time to understand your unique situation. This means your goals, risk tolerance, income needs, and family situation. They don’t rely on a one-size-fits-all approach but instead create a customized plan that aligns with your requirements and lifestyle.
3. Can They Justify The Fees They Charge You?
Transparency is crucial in building trust between you and your advisor. A great advisor will openly explain their fees, the costs associated with investments, and the potential risks involved. They’ll provide clear and simple explanations of their strategies so you’re always in the loop. This lets you make informed decisions and have confidence in the ROI you get from their advice.
Final Tips When Picking A Fiduciary Financial Advisor
Evaluate Their Tax Strategy Knowledge
Tax efficiency is crucial when planning for retirement. If your advisor isn’t helping you minimize your tax burden or isn’t aware of the latest tax laws and strategies, you could be leaving money on the table.
Picking a good financial advisor helps you manage your taxable income, recommend tax-deferred accounts, and maximize your Social Security benefits.Their Strategy Should Protect You Against Rising Healthcare Costs
Unfortunately, healthcare costs are one of the fastest-growing expenses for retirees. Especially with inflation predicted to hit Americans hard in 2025.
If your advisor doesn’t factor healthcare into your retirement plan, you may be unprepared for the costs of long-term care, medications, and medical emergencies. A fiduciary financial advisor will understand the current risks and key strategies with healthcare costs.
Enjoy Greater Control And Peace Of Mind Over Your Finances
Having the right financial advisor can help optimize your retirement fund strategies.
If your current advisor isn't assessing risks while seeking returns, managing taxes, or safeguarding wealth - it's time to reevaluate your partnership. A trusted fiduciary advisor can help guide you through the complexities of asset allocation and ensure your money works as hard as you did to build it.
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