What to Look for When Choosing a Financial Adviser [Video]

With rising prices across the country, Americans are growing more concerned about their financial future. In a recent study from MarketWatch Guides, nearly 90 percent of respondents reported feeling financial stress. In this tense economic time, many people are turning to registered investment advisers (RIAs) for help.

“The primary benefit of an RIA is the ability to plan your short- and long-term financial goals with an adviser who has experience recommending investments that meet your needs,” Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, told Newsweek over email. “They’re especially helpful if you have little to no background in investing and need guidance.”

But growing a client’s assets through personalized planning and strategies is not the only thing a great RIA does—they must also build and maintain trust. When choosing an RIA, one must look beyond the portfolio and consider an adviser’s conflicts of interest.

According to the U.S. Securities and Exchange Commission (SEC), RIAs are …