Make a Financial Match Online

Finding the right financial adviser could be a click away. Compare five online financial-adviser networks to see which offer the best selection and services to fit your needs.

By Erin Burt, Contributing Editor, Kiplinger.com

March 7, 2006

Paladin Investor Resources prides itself on a high level of quality. Of 14,000 advisers screened for the network since June 2004, only 820 have made the cut. All 820 derive some or all of their compensation from fees and have an average of 16 years of experience: 74% have multiple certifications. All registry services are free to investors. Paladin also offers a variety of resources, including information on finding, evaluating and interviewing advisers.

Do your homework

Using a Web site, no matter which one you choose, is only the first step in finding the right financial planner for you. No matter how rigorously the candidates are screened, it's important to select an adviser who works well with your personality and with whom you feel comfortable.

Most advisers will schedule a free initial meeting during which you should clarify the services they will provide and how you will be charged. You can print out a brochure from the National Association of Personal Financial Advisors entitled "How to Choose a Financial Planner," to help you prepare for an adviser interview. Among the suggested questions:

• Are there financial incentives for you to recommend certain products?



• Do you provide a comprehensive written analysis of my financial situation and recommendations?



• Do you take custody of, or have access to, my assets?



• Do you have clients who might be willing to speak with me about your services?

Also, it's important to evaluate the planner's personality, says GPN founder Sheryl Garrett. "Do you feel like they listen to you? Do they answer your questions in a forthright manner?"

You should run your own background check on the candidate or his or her firm -- even if you used a site that vets advisers' credentials -- to make sure they live up your standards. Advisers who manage clients' money, for example, are registered investment advisers and must file documents with the SEC or state regulators. You can use the SEC's Investment Adviser Public Disclosure site to find a candidate's form ADV, which contains the adviser's educational background, professional experience, method of compensation and disciplinary information. Or simply ask the adviser for a copy.

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