A financial advisor can make a difference in your life. A financial advisor can help you make strategic investment choices, plan for retirement, and accomplish your long-term financial goals. But with so many financial advisors out there, how do you know which one is right for you? Here are a few tips to help you find the right financial advisors in Minneapolis, MN for your situation.

First, consider your needs. What are your financial goals? Do you want to plan for retirement? Do you need help with estate planning? Once you know what you need, you can start looking for an advisor specializing in that area. Some advisors focus on retirement planning, while others have experience with estate planning. Find an advisor who can help you reach your specific financial goals.

Next, check out the credentials of the financial advisors you’re considering. Look for advisors that have third-party accredited certifications, such as the CFP. Make sure your advisor is an independent Registered Investment Advisor (RIA). RIAs are registered with the SEC and held to a stricter fiduciary standard of care. Consider avoiding advisors registered as broker-dealers and held to only a suitability standard of care.

Third, schedule an initial consultation after you’ve narrowed down your list of potential advisors. This meeting is your opportunity to ask questions and get to know the advisor better. Find out how they communicate with clients and what kind of services they offer. Also, ask how they are paid. Make sure the advisors are only compensated by the fees they charge the clients. Fiduciaries cannot sell products or receive commissions from product sales.

When you find financial advisors in Minneapolis, MN that are right for your situation, you will be closer to achieving your financial goals.