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Swipe Left? Does Your Advisor Need To Be The Perfect Match?

Swipe Left? Does Your Advisor Need To Be The Perfect Match?

| May 30, 2019
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Too short, swipe left.

Bad hair, swipe left.

Big ears, swipe left.

Awkward smirk, swipe left.

Crazy eyes, swipe left for sure.

Most people would contend the dating app world is a lot easier than the world of finding the perfect match for your financial future.  I would argue finding the right financial advisor should be a little easier than finding the perfect dating match.  After all, you most likely will not have a Netflix and chill night with your financial advisor and awkwardly hold clammy hands.  From my experience as a financial advisor, I find that people have higher anxiety about choosing a financial advisor than they do about meeting someone on a dating app. 

The financial profession shoulders some of the responsibility for the anxiety about choosing an advisor.  Public perception is a series of meetings with very similar looking older men with similar sets of designations at the end of their names in similar looking suits speaking in similar financial jargon making the client feel similarly discouraged and in need of a shower to wash off the sales pitch.  Can you blame the public for being hesitant about even exploring the idea of working with a financial advisor?  Maybe that is why people would rather Netflix and chill with a person they just met online than go find the perfect financial advisor for them.  I have put together a few tips can help you with finding the perfect financial advisor for your needs. 

  • Trusting your gut:You have to be able to listen to your gut to trust it.  If it says anything, be listening.  Likely that uneasy feeling means something.  If you are interviewing a prospective financial advisor and your gut says no, listen to it.  If you don’t think you like the person, don’t hire them.  Great question to ask: Why do you do what you do?

  • Communication:If you do not understand what the advisor is saying then they are likely not the right fit for you.  Great question to ask: Would you please explain that to me one more time?


  • Expectations:Can your advisor lay out the ways that they plan to assist you in reaching your financial goals?  How many meetings per year can I expect?  What sorts of communication will I receive? What risks am I taking with my money? How long should I expect to hear back when I email you?  Will I be working with you or your team?  Great question to ask:  If I were to hire you, explain your process?


  • Experience:Advisors can have too little experience as you would expect and there are times when they can have too much experience.  You definitely don’t want your nephew who just got his securities license to use your retirement as a training ground.  On the other hand, you don’t want to hire a new advisor for what you hope is a long-term relationship only to find that they have retired and handed you down to someone else’s nephew who just got his securities license.  Find someone with enough experience yet not so much that they are disengaged or close to retirement.  Great question to ask: How long have you been and advisor and how long do you plan to be an advisor?

  • Fees: Fees are important.Be careful to not make them the most important as you sometimes get what you pay for.  Expenses for your investments can come in a variety of forms from fees to commissions. Be sure you understand what your advisor charges along with any other fees from various other companies involved in your financial life.  Fees need to be in a reasonable range and your advisor should be able to explain the fees and his or her compensation in a simple manner.  If you become confused at how they explain this or if they begin to mumble and stammer, please reference item 1.  Great question:  How are you compensated or do you have a production quota?

I hope that some of these tips will lower your anxiety about finding the perfect match for you.  Maybe they will help you swipe right when it comes to a financial advisor for you.  Personally, I like long walks on the beach and candle lit dinners…. with my wife.  With my clients, I like having fun and becoming part of their lives.  Being part of such a serious profession, I find keeping it light and transparent works for my clients and allows them to pursue what is truly important. 

Matt Logan is a Representative with Matt Logan Inc and Summit Brokerage and may be reached at, 336-540-9700 or [email protected].  

Matt Logan Inc. is an independent firm with Securities offered through Summit Brokerage Services, Inc., Member FINRASIPC. Advisory services offered through Summit Financial Group Inc., a Registered Investment Advisor. Summit Brokerage Services, Inc., its affiliates and Matt Logan Inc. do not give tax or legal advice. You should consult an experienced professional regarding the tax consequences of a specific transaction. These are the views of Matt Logan Inc, and not necessarily those of Summit Brokerage Services, Inc. and any of its affiliates and should not be construed as investment advice.

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