What is a Financial Advisor?

In football, it is critical to have a talented and tested quarterback at the helm, as it has proven to result in a winning team historically.

Why is this? Because the quarterback of football team is the team leader, helping them to prepare for games and manage the offense. The best quarterbacks also stay calm during the emotional ups and downs on the field, especially at the most critical moments in the game.

The Role of a Financial Advisor

Think of financial advisors as the quarterback of your financial matters. They help individuals or small business owners manage toward their financial goals, evaluate different financial strategies, and determine which ones may be best for their unique circumstances. Areas of focus can include taxes, investments, estates, retirement, education, insurance, and other potential lifetime needs.

Not all Financial Advisors Are Alike

There are over 200,000 financial advisors in the United States. As a result, it can quickly become confusing when trying to select just one that may be best for you.

Luckily, there are a few ways you can separate this wide field of financial advisors:

  • Look for an advisor that uses the Certified Financial Planner®, or CFP®, designation. Only 1 out of 5 financial advisors in the U.S. have earned the right to use this designation because it is a rigorous program that requires financial planning coursework and a six-hour exam through a CFP® Board-registered program. A CFP ® candidate must also obtain at least 6,000 hours of professional financial planning experience or have 4,000 hours of apprenticeship experience before they can use the designation.
  • Is the financial advisor a “fiduciary”? Fiduciaries have a legal obligation — also known as a “fiduciary duty” — to act in your best financial interests. Investment advisors who are registered with the Securities and Exchange Commission (SEC) or state regulators must act as fiduciaries according to the law. You can find financial advisors who are also fiduciaries at both NAPFA.org and using the SEC adviser search tool .
  • Is your financial advisor “fee-only” or “fee-based”? Fee-only financial advisors receive an ongoing management fee (typically a percentage of assets under management) for their advisory services. Fee-based financial advisors, on the other hand, receive commissions when they sell financial products to their clients, which may create a potential conflict of interest. Modera Wealth Management is a fee-only firm because it believes this model best aligns our interests with those of our clients.

Do You Need a Financial Advisor?

A financial advisor can be a valuable resource as your financial needs change and the complexity of your financial situation evolves over time. As a result, you may wish to have a quarterback at the helm to help you manage and execute your financial affairs.

Modera Wealth Management can act as your financial advisor to help you evaluate and plan for your current and future financial needs.

About Us: Modera is proudly a fee-only and independently owned financial planning firm that acts as a fiduciary for our clients. We have built our organization to put our clients’ interests first.

Call Modera Wealth Management to learn more and set up an initial meeting with our team.

Modera Wealth Management, LLC (“Modera”) is an SEC-registered investment advisor with places of business in Massachusetts, New Jersey, Pennsylvania, North Carolina, Georgia and Florida. Modera may only transact business in those states in which it is registered or qualifies for an exemption or exclusion from registration requirements. SEC registration does not imply any level of skill or training.  For information pertaining to our registration status, fees and services, please contact us or refer to the Investment Adviser Public Disclosure web site (www.adviserinfo.sec.gov) to obtain a copy of our disclosure statement set forth in Form ADV Part 2A. Please read the disclosure statement carefully before you invest or send money.

This article is limited to the dissemination of general information about Modera’s investment advisory and financial planning services that is not suitable for everyone. Nothing herein should be interpreted or construed as investment advice nor as legal, tax or accounting advice nor as personalized financial planning, tax planning or wealth management advice. For legal, tax and accounting-related matters, we recommend you seek the advice of a qualified attorney or accountant. This article is not a substitute for personalized investment or financial planning from Modera. There is no guarantee that the views and opinions expressed herein will come to pass, and the information herein should not be considered a solicitation to engage in a particular investment or financial planning strategy. The statements, information and opinions expressed in this article are subject to change without notice.

Investing in the markets involves gains and losses and may not be suitable for all investors and should not be considered a solicitation to buy or sell any security or to engage in a particular investment or financial planning strategy. Individual client asset allocations and investment strategies differ based on varying degrees of diversification and other factors. Diversification does not guarantee a profit or guarantee against a loss.

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