5 Signs that Your Independent Advisor is Exceptional

Charlene Laney |

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Are you navigating the complex financial landscape after experiencing a significant life event such as a divorce, job loss, or the passing of a beloved parent? If so, you're not alone, and choosing an independent advisor can make all the difference. As individuals facing these significant life events often feel overwhelmed by financial decisions and implications, an independent advisor becomes an essential pillar of support. Their sound financial strategies and professional advice can provide much-needed direction, allowing you to focus on personal healing and growth.

At NewMaker Financial, we know the value of a reliable, qualified advisor, especially during challenging life transitions. We understand your concerns and sympathize with the helplessness in the face of financial uncertainty that these situations may bring.

Role of an Independent Advisor - independent advisor infographic pillar-4-steps

An exceptional independent advisor:

  • Provides unbiased and unrestricted advice.
  • Offers a fair and transparent fee structure.
  • Prioritizes your needs and objectives.
  • Has a wide range of financial products and services.
  • Acts in your best interest, adhering to a fiduciary duty.

By choosing an exceptional independent advisor, you seek not just your financial health but also your confidence. Because when it comes to navigating life's ups and downs, you should never have to walk alone. In the following sections, we will delve into the signs that signify you've partnered with an exceptional independent advisor.

Sign 1: Your Independent Advisor Provides Unbiased and Unrestricted Advice

Understanding Unbiased and Unrestricted Advice

In the realm of financial planning, unbiased and unrestricted advice refers to a specific type of guidance independent advisors provide. An independent advisor, as the name suggests, operates independently from any financial institution or product provider. This independence allows them the freedom to scour the entire market, considering all types of retail investment products, and recommend the ones that best meet your needs and objectives. Unlike some advisors who might be limited to a specific company's offerings, independent advisors are not bound by such constraints.

This, in essence, is what we mean by "unbiased and unrestricted advice". The advice you receive from your independent advisor is not influenced by their affiliation to any product or service provider. Their recommendations are based solely on what is best for you and your financial goals.

The Perks of Unbiased Advice for You as a Client

There are significant benefits to receiving unbiased advice from your independent advisor. First, it ensures that the advice you receive is objective and tailor-made for your unique situation. Whether you're aiming for a comfortable retirement, saving for your child's college education, or planning for a major life event like buying a house or starting a business, your independent advisor can provide the best options for you.

Second, unbiased advice enables you to access a wider range of investment products and services. With the entire market at their disposal, independent advisors can choose from a vast array of options to create a portfolio that's perfectly suited to your needs.

Third and most importantly, unbiased advice cultivates trust. When you know your advisor is providing advice with your best interest at heart, it fosters a sense of security and confidence in your financial plan. At NewMaker Financial, we believe that trust is the cornerstone of a successful advisor-client relationship. As your independent advisor, our goal is to provide you with unbiased advice that helps you navigate your financial journey with confidence and peace of mind.

Sign 2: Your Independent Advisor Offers a Fair and Transparent Fee Structure

An exceptional independent advisor doesn't just provide you with professional advice, they also maintain an open and honest discussion about how they charge for their services. Let's break that down.

Understanding How Independent Advisors Charge

Independent advisors typically base their fees on the scope of advice you need, the time it takes to provide that advice, and the size of the assets involved. The charges are often calculated as a percentage of the asset in question, commonly ranging between 1% and 2%. Larger assets may attract lower percentages.

At NewMaker Financial, we offer a flexible fee structure. Our financial solutions are based on assets under management and on a commissionable basis. This way, you have the freedom to choose what works best for you.

Why a Transparent Fee Structure is Crucial

Having a clear understanding of how your independent advisor charges for their services is vital for several reasons.

First, transparency in fees ensures that you're not met with surprise costs down the line. It allows you to budget appropriately and gives you a sense of control over your financial planning process.

Second, it provides a platform for you to compare costs with other advisors. This comparison can help you make informed decisions about who to entrust with your financial future.

Finally, a transparent fee structure is a reflection of your advisor's integrity. An advisor who openly communicates about their fees is likely to be honest and upfront in other areas of their service.

In the end, an exceptional independent advisor is one who not only offers fair and transparent fees but also proactively discusses and reviews these fees with you. After all, part of our duty as investment fiduciaries in advisory accounts at NewMaker Financial is to ensure that you fully understand and are comfortable with our fee structure.

Sign 3: Your Independent Advisor Prioritizes Your Needs and Objectives

As you move through significant life transitions, your independent advisor needs to be your cornerstone, providing financial guidance that resonates with your unique situation. Let's delve into how personalized advice plays a crucial role in this process.

The Role of Personalized Financial Advice

Financial advice isn't one-size-fits-all. Every individual has unique financial goals, risk tolerance, and life circumstances. Thus, an exceptional independent advisor should strive to understand your distinct needs and objectives. They should provide tailored financial advice that isn't influenced by any external factors.

The beauty of working with an independent advisor like us at NewMaker Financial is the personalized attention you receive. We don't just offer advice; we offer advice that's specifically designed for you. Whether you're planning for your children's college expenses, managing an inheritance, or just trying to make the most of your money, we're here to help you navigate your financial landscape with confidence.

How an Independent Advisor Tailors Services to Your Needs

An independent advisor should be able to build your portfolio with more customization. This means not just picking investments, but creating a comprehensive financial plan that suits your unique needs and long-term goals. This plan could include strategies for investing, funding a family trust, or even managing a business.

At NewMaker Financial, we go a step further by helping you understand the assets you now own and guiding you to make smart decisions about how to use them. This personalized service is particularly beneficial during major life transitions, which can significantly impact your financial situation.

In conclusion, an exceptional independent advisor is one who takes the time to understand you as an individual and tailors their services to align with your personal financial goals. At NewMaker Financial, we pride ourselves on doing just that. We're more than just financial advisors; we're your partners in achieving financial stability and security.

Sign 4: Your Independent Advisor Has a Wide Range of Financial Products and Services

When seeking an independent advisor, it's crucial to ensure that they offer a diverse range of financial products and services. The variety and breadth of their offerings can greatly impact your financial planning process and final outcomes. At NewMaker Financial, we provide an extensive portfolio of financial products to cater to your unique needs.

The Advantage of Independence in Offering Diverse Financial Products

A significant advantage of an independent advisor over a tied or multi-tied advisor is that they are not restricted to the products of a single provider. This means they can consider and recommend all types of retail investment products that could meet your needs and objectives.

In simple terms, an independent advisor is like a financial supermarket. They have the freedom and flexibility to choose from a wide array of products across the market, ensuring that you get the most suitable product for your unique situation. This is in stark contrast to tied advisors, who can only offer products from the company they work for.

How a Wide Range of Services Can Benefit Your Financial Planning

A diverse selection of financial products and services enables your independent advisor to create a bespoke financial plan that addresses your unique needs and long-term goals. Whether you're planning for retirement, managing an inheritance, or navigating financial planning after a major life event like divorce, your advisor can help you choose the best investment products, insurance policies, and other financial services.

Moreover, a wide range of services allows your advisor to help you build your savings, reduce your debts, and grow your wealth in a strategic and sustainable manner. By offering a comprehensive suite of services, your advisor can be your one-stop shop for all your financial needs, eliminating the need to seek advice from multiple sources.

At NewMaker Financial, we understand the power of diversity in financial planning. That's why we offer a wide range of financial products and services, ensuring that you have access to the tools you need to achieve financial stability and security.

In the next section, we'll discuss another key sign of an exceptional independent advisor - acting in your best interest.

Sign 5: Your Independent Advisor Acts in Your Best Interest

After understanding the wide range of services an independent advisor can offer, let's delve into another crucial aspect, the fiduciary duty. It's the advisor's responsibility to act in your best interest, setting aside their own interests to ensure your financial well-being. This is a defining quality of an exceptional independent advisor.

Understanding the Fiduciary Duty of an Independent Advisor

In the finance world, a fiduciary duty is akin to having a guardian angel. An advisor with this duty is legally obligated to act in your best interest, providing unbiased advice instead of promoting particular investments for commission.

As an independent advisor, we at NewMaker Financial uphold this duty in all our advisory relationships. We prioritize your financial needs and aspirations, ensuring we offer investment solutions best suited to your circumstances.

Fiduciary Duty - independent advisor

How Acting in Your Best Interest Affects Your Financial Planning

When your independent advisor acts in your best interest, it significantly influences your financial planning. The advice you receive is tailored to your specific needs, taking into account your financial goals, risk tolerance, and other individual factors.

This fiduciary obligation guarantees that your advisor's recommendations are not influenced by their own financial gain. Instead, they are based solely on what's best for you. This trustworthiness is especially crucial during life transitions, where you may feel vulnerable and uncertain about future financial decisions.

At NewMaker Financial, we're committed to maintaining this trust by offering personalized advice and solutions, acting as your partner in navigating the complexities of financial planning.

In the next section, we'll offer some tips on how to determine if your independent advisor is truly exceptional.

How to Determine if Your Independent Advisor is Exceptional

You've learned about the signs of an exceptional independent advisor. But how do you evaluate your advisor against these standards? This is where a mix of asking the right questions and using vetting tools can be invaluable.

Questions to Ask Your Advisor

The first step in assessing your advisor's performance is to initiate a conversation. Here are a few pointed questions you can ask:

  1. How do you ensure your advice is unbiased? A good independent advisor should be able to explain their approach to providing unrestricted and impartial advice.
  2. What is your fee structure? They should be upfront and clear about their fees, and explain any associated costs that may not be immediately apparent.
  3. How do you prioritize my needs and objectives? Exceptional advisors make your needs their priority and should be able to explain how they tailor their services to meet them.
  4. What range of financial products and services do you offer? A wide range of options indicates that they can cater to diverse financial requirements.
  5. How do you fulfill your fiduciary duty? They should be able to articulate how they act in your best interest, putting your needs before their own.

An exceptional independent advisor will welcome your questions and answer them clearly and honestly.

Using Tools Like SmartAsset to Vet Financial Advisors

In addition to asking these questions, there are online tools available that can help you vet potential advisors. One such tool is SmartAsset, which matches you with up to three vetted financial advisors who serve your area. You can have a free introductory call with your advisor matches to decide which one you feel is right for you.

These tools often provide comparisons between fee-only and fee-based advisors, which can guide you in making an informed decision.

At NewMaker Financial, we thrive on transparency and prioritize our clients' needs. We welcome your questions and are committed to providing personalized, comprehensive financial planning solutions.

In the next section, we'll wrap up by recapping the signs of an exceptional independent advisor and discussing the value of partnering with one.


Recap of the Signs of an Exceptional Independent Advisor

An exceptional independent advisor is truly a financial guardian angel, offering clear, unbiased advice for your unique needs. They offer unrestricted advice, meaning they aren't tied to any specific company's financial products, so they can recommend the best options for you.

Their fee structure is fair and transparent, so you won't be hit with hidden costs or surprise fees. They prioritize your needs and objectives, tailoring their services to your specific situation and helping you navigate major life transitions with confidence.

Their range of financial products and services is wide and diverse, providing you with a wealth of options for your financial planning. Most importantly, they act in your best interest, upholding their fiduciary duty and ensuring that every financial decision they help you make is for your benefit.

The Value of Partnering with an Exceptional Independent Advisor Like NewMaker Financial

At NewMaker Financial, we strive to be more than just your independent advisor. We aim to be your valued partner, providing the support, guidance, and expertise you need to make informed financial decisions during life's major transitions.

We understand that these transitions can be challenging and overwhelming. That's why we're here to help, illuminating the future for you and helping you navigate these changes with confidence. We provide tailored financial advice, a wide range of financial products, and a commitment to acting in your best interest.

By partnering with an exceptional independent advisor like us, you're not just getting financial advice. You're getting a roadmap to your financial future, a trusted partner who can guide you through the financial landscape, and the peace of mind that comes from knowing your financial future is in good hands.

For further reading on how our team of dedicated advisors can help you navigate life's transitions, check out our Education Center.

Financial Advisor - independent advisor

Whether you're dealing with a divorce, the loss of a loved one, or other significant life changes, remember, you're not alone. We're here to help. Reach out to us and let's start the journey to securing your financial future together.