How to Find a Financial Advisor if You’re Under 30

Do you really need a financial advisor if you're under 30? Many young adults find themselves questioning the necessity of professional financial guidance at their early stage in life.

Just like crafting the perfect playlist, selecting the right advisor is key to orchestrating a harmonious and prosperous future. At Peoples Bank Wealth Management Group, we believe it is important to provide comprehensive banking, investment, and wealth management services tailored to meet our customers’ needs. If you think you may benefit from the help of a financial advisor, we are here to help you navigate the process and here is our guide to helping you find a financial advisor if you are under 30.

Photo: Couple speaking with a financial advisor
Text: Identify your financial needs, whether it's budgeting, debt management, or retirement planning, to find the perfect advisor specialized in your goals.

Love Yourself; Love Your Finances: What Do You Need?

Look at your current financial situation - perhaps your finances are in perfect order. You have a nice emergency savings account and are avoiding the financial pitfalls that are common among your peers. But if you don’t have the time or interest to learn about and monitor investments, retirement planning, education savings, estate plannings etc., it may be time to start working with a financial advisor for young adults who can set you on the path to a healthy nest egg.

Financial advisors and wealth management teams help clients make smart financial decisions. Financial advisors offer a wide array of services including:

Retirement savings
Budgeting
High yield investing
Insurance review and needs analysis
Estate planning
Comprehensive goal-based financial planning

Determining your financial needs and goals will help you get the most out of working with a financial advisor. Your financial goals are unique, so don’t choose the first advisor you speak with. You may want to consider whether your advisor is a solo practitioner or a part of a team that has other advisors who can help you as your goals adjust along life’s journey.

Photo: Woman looking at laptop
Text: Be cautious with TikTok financial advice, check influencer credentials, and remember that while many financial advisors offer free initial consultations, it's essential to assess their expertise and compatibility during these sessions.

Investing in Paradise: Should I Believe the Advice on TikTok?

Who isn’t enthralled by the bite-sized videos offering financial advice on TikTok? Just like any YMOYL (your money or your life) subject, use caution. There are legitimate influencers in the realm of financial advice, but you need to investigate their backgrounds outside of TikTok. Only take advice from financial influencers that are licensed and credentialed.

Even the most reputable influencer has a motive. Financial advisors on social media are being compensated through affiliate marketing, their own product sales, and other commission and compensation schemes. Find reputable advisors and learn from their content; just be aware that nothing is free, and be cautious of the products they promote.

It is also important to remember that while their advice might apply to certain circumstances it may not be the right option for you. Working with a financial advisor who gets to know your unique situation will generally lead to better advice and outcomes for you.

Your Financial Advisor Partnership

A financial advisor is more than just a professional who handles your investments. Your advisor will be a partner who coordinates your financial growth over the coming years. It’s important to gauge their communication style, expertise, and whether you feel comfortable working with them. Find a financial advisor that you can speak with candidly and who you trust to make decisions for your future.

Many financial advisors offer free initial consultations. Take advantage of this opportunity to meet with potential advisors and discuss your financial goals. At this first meeting, learn all you can about the advisor’s professional style by asking questions such as:

What are your firm’s core values?
Can you explain your fee structure?
What is your investment philosophy?
How often and by what means do you communicate with your clients?

Photo: Couple speaking with an advisor
Text: As your financial needs evolve, regularly assess your advisor's performance and value, and remember you're free to explore other options.

It’s Not Too Early to Find an Advisor

At Peoples Bank Wealth Management Group, we believe that you are never too young to take an interest in your personal finances. At Peoples Bank Wealth Management Group, our financial advisors for young adults are available to help pave the way to a healthy financial future and can help determine the right solution for your goals and objectives. You can find other information in our article explaining 6 Things to Do Before Meeting with Your Financial Advisor.

The Peoples Bank Wealth Management Group is always looking for ways to grow our relationships with potential clients. We would love the opportunity to sit down and talk with you about your financial goals. To learn more about how a financial advisor can help, contact us online or give us a call at (712) 722-0100.

Investment products are not FDIC insured, not a bank deposit, not guaranteed by the bank or any US Government Agency and principal may lose value.