Find the Best Financial Advisors in Boise, ID

Choosing a financial advisor in Boise

Everyone benefits from the expertise and resources of a financial advisor. These asset management professionals dedicate themselves to assessing your financial situation and setting you up for future success. Financial advisors help you:

• Set up college funds
• Save for retirement
• Manage your investments
• Handle the details of your finances
• Secure your financial future
• Get objective advice from a knowledgeable source

Whether you are just starting your career or have accumulated significant assets, financial advisors help you keep your money organized and navigate towards a secure financial future. Other benefits of hiring a financial advisor in Boise include:

• Saving you time trying to manage your finances on your own
• Having access to the advisor’s extensive network, education, resources and experience
• Increasing your confidence in your financial decisions

Some financial advisors have a minimum amount of assets clients must exceed, but people with any amount of money can find a financial advisor willing to work with them.

Types of financial advisors

There are many different types of financial advisors, so choose one that has experience relevant to your needs.

All of these types of financial advisors fall into two more categories to pick between: fiduciaries and non-fiduciaries.

Once you know what type of financial advisor you want, you’ll have to choose whether you want to deal with a robo-advisor or a human advisor.

What is the cost of a financial advisor in Baltimore?

Different financial advisory services get billed in different ways, so the average cost for a comprehensive financial plan from a fee-based financial advisor in Boise is a flat fee between $1,000 - $2,000, but other clients might pay a monthly retainer for ongoing asset management services.

If your financial advisor is handling investments for you, their fee is likely a percentage of the assets you have invested. Expect to pay 1 percent of the total assets he or she is helping you manage. Some financial advisors get paid a commission based on the investment transactions they advise.

A financial planner that uses a fee-only pricing structure gets paid for their services directly from the client without any commission or reimbursement from third parties. A fee-based pricing structure depends not only the services that the financial planner offers but also a commission from any financial products or programs in which the client invests.

As mentioned above, not all financial advisors have the same credentials or experience, and those with more training and experience often cost more than general financial planners. Some advisors also charge more for active management when their service surpasses typical financial advising and focuses more on actively beating the market.

What qualifications should a financial advisor have?

As you search for the right financial advisor in Boise, make sure you check their qualifications, which should include:

• At least a bachelor's degree from an accredited college or university
• An MBA (optional)
• A General Securities Representative license
• A Series 63 license
• Other professional certifications like being a CFP or PFS

Choosing the right financial advisor in Boise comes down to asking the right questions. If having an advisor who keeps your best interests in mind is important to you, make sure they are a fee-only fiduciary. Other questions to ask include:

• How do you get paid?
• How many clients are you working with right now?
• How do you invest your own money?
• How do you measure success?
• What is your investment philosophy?
• How do you keep in touch with clients?

All too often, people get scammed by dishonest individuals pretending to be financial advisors who give out bad advice, take payment and are never heard from again. The more you know about financial advising scams and how to spot them, the safer you are.

To avoid falling victim to financial advising schemes and scams in Boise, do your research. Speak to long-term clients, get referrals and don't be afraid to ask questions. Use resources from the Financial Industry Regulatory Authority and the Securities and Exchange Commission to check your financial advisor’s qualifications and history. Your hard-earned money is at stake, and you have the right to be picky with whom you choose to manage it.