The COVID-19 pandemic changed a lot of things about the way our society operates and made using 100% online services more of a default than a convenience. It’s more common now than ever before for professionals to offer the option of or exclusively virtual services – but how do you know they’re the right fit for you without ever meeting them face-to-face?
Here are two questions to ask yourself first.
Question 1: Are they responsive?
How prompt they are to respond to you is a great indicator of how reliable they are in their services. Doing business entirely virtually can sometimes feel like sending your information out into the void, and whether it’s an email, a phone call, or a video call, your advisor should be able to get back to you in a timely manner to help with your retirement questions. Your advisor should keep you updated on your progress, respond promptly to any inquiries or questions you have, and proactively reach out to you when your attention is needed – not the other way around. If you find yourself waiting for days on end for a reply, or their responses are generic and vague, it may be a sign to keep searching.
Question 2: Do they take your needs into account?
Everyone’s financial and retirement goals are different, and your advisor should cater to that. Whether you’re meeting in person, over a video call, or on the phone, they should take your specific needs into account rather than offering a one-size-fits-most solution. They should listen attentively, ask thoughtful questions, and offer personalized strategies and solutions that align with your vision for the future. If your virtual advisor consistently overlooks your specific concerns or pushes generic products with little to no explanations, that’s a red flag. Ultimately, you deserve an advisor who treats your financial journey as personally as you do and demonstrates that your needs are at the heart of every recommendation.
Additional Measures
Having the option to conduct your financial business entirely remotely is an incredible option that many would not have had before 2020. If you decide that a virtual financial advisor is the right move for you, we also encourage you to do your research on their background and credentials through tools like the SEC, Better Business Bureau, and Google reviews.
We hope this list was helpful for you. For more retirement and financial education resources, check out the rest of our website and sign up for alerts about educational opportunities in your area.