4 Tips for Finding the Right Financial Advisor for Aging Parents

October 23rd, 2018 by John Wilson

Many seniors feel they have their finances well in control, but the truth is, most everyone can benefit from consulting with a financial advisor, especially when it comes time for senior care in Oklahoma. While your parent may be capable of finding the right person for the job on their own, it never hurts to have a second opinion when it comes to these important matters. The following tips will help you find the right financial advisor so your parents can move forward to a stronger financial future.

Talk to Others

Word of mouth still remains one of the best ways to find the right company for just about any service job. The same holds true when you’re trying to help your aging parents find a financial advisor to meet their needs, both now and in the future. Talk to friends and family members who have already taken this important step and make a list of their recommendations. Once you have suggestions, you can narrow down the list by checking out their websites, online reviews, the Better Business Bureau and other information.

Look Beyond the Title

Different companies use varying titles for similar jobs. This means it’s essential to look past the titles of the professionals you are considering. Interview them and find out exactly what they do and what type of experience they have with other senior clients. It’s important to make sure they are qualified to handle your parents’ unique situation so you can feel confident their finances are in good hands.

A financial advisor can help you understand the cost of senior care.

Senior care doesn’t have to be a major expense.

Use Industry Databases

The financial industry offers plenty of tools that can help make this process even easier. When you’re looking at assisted living options in OKC, you are likely to use resources in the assisted living industry to find the right facility for your loved one. The same holds true when it comes to finding a financial advisor. There are many organizations designed to make it easier to find qualified professionals, including Certified Financial Planners, the National Association of Personal Finance Advisors and the Financial Planning Association. Make sure the advisor you choose is found on one or more of these directories.

Always Meet in Person

We all have busy schedules. Because of this, it may seem much easier to simply send an email inquiry or to talk over the phone. However, the best way to determine whether someone is a good fit for your parents’ needs is to meet with them in person. You will be better able to gauge whether they are a reliable source of financial information from this face-to-face interaction.

If you’re looking for affordable assisted living for seniors, contact us. We strive to make our facilities as low-cost as possible so everyone can live in a safe, comfortable environment.

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