Last week’s blog article discussed when and under what circumstances you might consider using a Wealth Advisor. Today, we’re exploring what to look for when choosing one, especially near you.
A quick Google search for financial advisors near you, or even a question to an AI assistant, will prove that there are a lot of options available in the area. It’s important, when spoiled for choice, that we take into consideration the vital factors beyond simply being in Lancaster County.
As logical as that probably sounds, first you need to know what to look for in a local advisor, or any professional.
Competence and Integrity Are the Starting Line
For starters, competence and integrity are table stakes. You deserve an advisor who knows what they’re doing and operates with a high degree of honesty and professionalism.
A good indicator of competence is professional designation. There are dozens of designations in the financial world, but the long-standing, industry-leading certification is the Certified Financial Planner® (CFP®). This designation reflects deep knowledge, rigorous training, and adherence to ethical standards. You can also verify that a professional holds a CFP® certification.
When it comes to integrity, a strong track record and reputation can speak volumes.
Ask around. Do others speak highly of this person? Have they worked with clients like you? And most importantly—how do you feel after a conversation with them?
If someone seems more focused on selling themselves than understanding your needs, that’s a red flag. Advisors who are others-centered tend to be gracious, transparent, and act with genuine integrity. And as with most things in life, a recommendation from someone you trust can go a long way.
In the end, you need to find someone you trust—and, ideally, someone you genuinely like working with.
Look for a Client-Centered Mindset
Even the most well-intentioned advisor will have some level of conflict of interest—especially if they receive compensation through commissions or have sales targets. What matters is whether they acknowledge those conflicts and handle them with honesty and care.
One way to reduce potential misalignment is to work with an advisor who operates as a fiduciary—someone who is legally and ethically bound to act in your best interest at all times. This is a significant distinction from advisors who follow the less stringent suitability standard, which only requires that a recommendation be “appropriate,” not necessarily best for you.
A client-centered, fiduciary advisor will put your goals, values, and needs first. You’ll notice it in how they ask questions, how well they listen, and how much time they take to understand your broader life—not just your portfolio. They will be proactive in asking about things like family priorities, charitable goals, career transitions, or lifestyle needs, not just the numbers on a spreadsheet.
Ask yourself:
- Do they take the time to really understand me?
- Do I feel like a person, or just an account?
- Have they committed to acting as a fiduciary in writing?
Make Sure Compensation Is Crystal Clear
Advisors are compensated in a variety of ways. Some charge a percentage of assets under management (AUM), others charge flat or hourly fees, and some earn commissions from selling financial products.
Each model has pros and cons, but transparency is key.
A fiduciary advisor is generally more likely to offer fee-only or fee-based models, which can help reduce conflicts of interest and align their success with your success. That doesn’t mean commissions are inherently wrong, but it does mean you should be fully informed.
A trustworthy advisor will clearly explain:
- How they get paid
- How that structure may influence their recommendations
- What the total cost will be—including fund fees, transaction fees, or other hidden expenses
And they won’t hesitate to put it in writing.
What Kind of Service Model Can You Expect?
One of the biggest challenges when evaluating a potential advisor is understanding what services are actually included and how proactive the engagement will be. Most firms fall into one of three categories:
Reactive Service Model
These firms help clients implement investment and insurance strategies and are available for service requests. However, they rarely initiate contact or check whether your plan is still aligned with your goals.
Annual Meeting Service Model
These firms build planning and investment reviews into a once-a-year meeting. There may be thoughtful discussion at that time, but the bulk of their service is concentrated around this annual check-in.
Highly Proactive Service Model
These firms view financial planning as central and investment management as one of several supporting tools. They operate with a structured, proactive calendar of services, ensuring that important financial matters don’t slip through the cracks.
This model offers clients greater clarity, rhythm, and peace of mind.
Understanding which model an advisor follows—and which works well for you—is a crucial step in your decision.
Chemistry Matters
You’ll likely work with your wealth advisor for many years, through market ups and downs, career changes, and life milestones. It’s a deeply personal relationship—so chemistry matters.
Ask yourself:
- Do I feel comfortable being honest and vulnerable with this person?
- Do I feel heard and respected?
- Do I trust their judgment?
If the answer isn’t a confident yes, it may be worth continuing the search.
Making a Confident Choice
Choosing a wealth advisor is not just a financial decision; it’s a relationship decision. The right advisor can help you plan with clarity, invest with confidence, and move through life’s transitions with greater peace of mind.
So take your time. Ask questions.
Look for a fiduciary who will put your interests first, be transparent about compensation, and focus on your goals—not just your portfolio.
And if you’d like help getting started—whether that’s finding the right questions to ask, understanding different advisor models, or reviewing your current plan—the team at Master’s would be happy to talk with you.
Schedule a free discovery call to discuss what matters most to you and how to find an advisor who aligns with your vision.
