How to pick a financial advisor

Money Matters: Why financial advisors can help you get to the next level

There's a major problem with how most people select a financial advisor: they think all advisors are essentially the same. They're not.

Financial advisors exist on a spectrum that matches different stages of your wealth journey. The person who should advise you when you have $100 monthly to invest is completely different from who you need when you have a trust to manage.

I view it as a stair-step approach with distinct tiers:

First tier: Insurance representatives at companies like Northwestern Mutual, Prudential, or MassMutual. These advisors are perfect entry points for basic vehicles - IRAs, whole life insurance, 529 college plans. If you're just starting out, this is your lane.