How to Find a Financial Advisor Online

When you have money goals you want to reach, it helps to have an expert on your side. A financial advisor can guide you along the way, and choosing the right advisor to work with matters. That means an advisor who fully understands your needs, aspirations, and concerns around money.

The internet is your friend if you’re ready to find a financial advisor. We’ll guide you through how to compare advisors online so you can make a confident decision about who to work with. 

Table of Contents

1. Assess your financial needs 
2. Types of financial advisors 
3. How to research potential advisors
4. How to evaluate advisor credentials and experience 
5. Financial advisor fee structures 
6. How to make a decision 

Assess your financial needs 

Before you start searching for an advisor, it helps to have an idea of what you’re looking for. Taking a personal financial inventory can help you narrow down which type of advisor is the best fit. 

1. List your top three financial goals. You might have plenty you want to do with your money, but ask yourself: “What’s most important right now?” 
2. List your top three financial fears. What are you most afraid of, money-wise? Do you dread a market crash? Are you worried about coming up short on retirement? A good financial advisor should ask you this question during your initial meeting. 
3. Take stock of your assets and debts. Financial advisors may consider net worth when taking on new clients. Add up what you own (bank accounts, retirement accounts, homes, vehicles, and more), and compare it to what you owe to credit cards, student loans, a mortgage, and other debts. 
4. Get clear on what you need. Think about what you need or want an advisor to do for you. If you need some inspiration, go back to the goals you outlined in step one. 
5. Decide what kind of experience matters. How you interact with your advisor can make or break the relationship. Consider how you prefer to communicate and what kind of personality type you’re likely to mesh with. 

Types of financial advisors 

Financial advisors aren’t one-size-fits-all; there are different types of advisors you might choose to work with. To keep things simple, we’ll break down the differences between three main types: 

• Robo-advisors use computer algorithms create and manage financial plans.
• Online financial advising services involve automated planning combined with oversight from a human advisor.
• Traditional advisors work one-on-one with clients to create custom financial plans

Here’s what to know about each type’s costs and minimum account requirements.

Advisor type	Cost	Account minimum
Robo-advisors	0.25% – 0.50% of AUM*	$0 – $50K
Online services	$150 – $300/mo.	$0 – $500K
Traditional advisor	1% – 2% of AUM*	$50K – $30 million+

Note that the fees and account minimums represent a typical range; actual numbers vary by advisor. 

How to research potential advisors

A simple search for “financial advisor near me” can turn up hundreds of results, but you need to know how to sift through them. Here are factors to weigh as you evaluate different advisors.

• Services. Some financial advisors offer a broader scope of services than others. You can usually find an advisor’s services listed on its website. 
• Fees. Of course, you’ll want to know what you’ll pay for an advisor’s services. 
• Client base. Advisors may cater their services to a certain type of client. For example, they might work with 40-something DINK couples (double income, no kids) or high-net-worth investors in their 60s. Look for an advisor who’s already helping people like you plan their financial futures.

I include as much information as I can online, such as services offered, cost, and who the best-fit client is. Many times, just by researching our website first, clients can determine whether I am a good fit and fit within their price range.

If you need helpful resources to find a financial advisor online, check out these options:

• FINRA BrokerCheck. BrokerCheck is a free search tool created by the Financial Industry Regulatory Authority. You can use it to research an advisor’s background and experience. 
• Better Business Bureau. The BBB collects information about accredited and nonaccredited businesses, including financial advisors. If you find a financial advisor you’re interested in working with, you can search for their BBB profile to see what past or current clients have to say about them. 
• Money Pickle. If you want a shortcut to finding the right advisor, Money Pickle can help you match with a qualified professional. You can schedule a free video meeting and find an advisor without leaving home. 

Client testimonials are another way to compare financial advisors. You can usually find these on an advisor’s website, and they offer a snapshot of what it might be like to work with them. Advisors can pay clients for testimonials, but if they do, they’re required to disclose that to you under the SEC’s marketing rule. 

How to evaluate advisor credentials and experience 

Aside from services and fees, it’s important to weigh an advisor’s experience and qualifications. Advisors can have a variety of certifications or designations following their name, and what might look like an alphabet soup can tell you more about who they are professionally. 

For example, many advisors hold a Certified Financial Planner (CFP®) designation. The CFP marks indicate that an advisor has:

• Earned a bachelor’s degree
• Completed required coursework through the CFP® Board
• Worked in a qualifying financial planning job previously
• Passed an in-depth exam testing their financial knowledge
• Signed an ethics declaration and completed a background check

CFPs are held to a fiduciary standard, which means they’re obligated to act in their clients’ best interest at all times. Chartered Financial Analysts (CFA), on the other hand, are not always fiduciaries, though many CFAs choose to act in a fiduciary capacity when offering advice. 

Working with a fiduciary advisor can be reassuring since you know they’re working for you, not just giving advice to collect higher fees or commissions. The simplest way to find out whether a financial advisor is a fiduciary is to ask. 

Financial advisor fee structures 

A typical fee structure for a financial advisor is the AUM model, where fees are calculated as a percentage of the assets they manage for you. So if you have $1 million in assets and your advisor charges a 1% fee, you’ll pay $10,000 annually. 

But that isn’t the only way advisors can get paid. Advisors may charge flat fees, hourly rates, annual retainers, subscription fees, or a combination of those options. How an advisor gets paid is influenced by whether they’re held to a fiduciary standard. 

Here’s how three payment models work. 

Fee-only	Commission	Fee-based
Fees based only on services provided	Commission for financial products sold	Fees for services + commission
Based on AUM; hourly, flat-rate; subscription; retainer	Based on product	Based on AUM; hourly; flat-rate; subscription; retainer
Fiduciary standard required	Fiduciary standard not required	Fiduciary standard typical but not always

How to make a decision 

Now you know how to find a financial advisor online, but how do you know which one to choose? 

Before you commit to an advisor, it’s smart to interview them to get a feel for who they are, what they do, and how they might be able to help you. Many advisors offer a free initial consultation, which is an opportunity to see how well you mesh. 

Whether you’re scheduling a virtual chat through Money Pickle or meeting with an advisor in person, here are useful questions to ask. 

• What services do you offer?
• Who is your typical client? 
• Is there a minimum AUM I’ll need to work with you?
• How long have you been an advisor?
• What certifications do you hold?
• Are you a fiduciary?
• How would you describe your investing style? 
• What is your approach to risk? 
• What fees do you charge? 
• Do you primarily stay in touch by phone, email, or text? 
• How often will we communicate?
• Do you work with a team? If so, how often will I interact with them? 
• What kind of tech tools do you offer? For example, will I be able to manage my accounts through a secure online portal?

Pay attention to the advisor’s answers and the questions they ask. A good advisor should pose open-ended questions to you that keep the conversation flowing. The exchange should be engaging and enlightening for both of you.

As with anything else, trust your gut. An advisor who cuts you off while you’re speaking, dodges questions, or mostly talks about themselves is likely not someone you want to entrust with your money. The right advisor for you should offer full transparency, charge reasonable fees, and pass the personality vibe check. 

Look out for red flags, such as somebody who leads with asking how much you have in investments before truly understanding your needs and goals. I always tell people: Trust your gut! If it doesn’t feel right, walk away.