How to Choose a Financial Advisor

Choosing the right financial advisor is one of the most important decisions you can make for your financial future. Whether you’re preparing for retirement, saving for college, or building long-term wealth, a trusted advisor can help you create a clear plan and give you confidence through every stage of life. But with so many options in the Nashville area, how do you know who’s the right fit? 

At Allgood Financial, we believe in helping our clients “do all good things” through personalized financial planning and deep, lasting relationships. Below, we’ll walk you through how to choose a financial advisor — and what to look for to ensure your goals and values align with theirs. 

1. Start with Your Goals and Needs 

Before meeting with any advisor, take time to define what you want to achieve financially. Are you looking for help managing investments, planning for retirement, or creating a comprehensive financial plan for your family or business? 

Your financial goals will determine the type of advisor best suited for you. For example: 

• Retirement planning: You’ll want someone experienced in long-term investment strategy and income planning.
• Wealth management: Look for advisors with a fiduciary responsibility who can handle complex portfolios.
• Comprehensive planning: Choose an advisor who takes a holistic view — including tax strategy, insurance, estate planning, and debt management. 

When you know what you want, you can better identify who has the right expertise to help you get there. 

2. Look for a Fiduciary Financial Advisor 

One of the most important qualities to look for in a financial advisor is fiduciary responsibility. 

A fiduciary advisor is legally and ethically required to act in your best interest at all times. This means they recommend strategies and products based on what’s right for you, not what earns them the highest commission. 

At Allgood Financial, our fiduciary standard means your success always comes first. Every recommendation we make is rooted in transparency, honesty, and trust — because that’s how strong financial relationships are built. 

3. Verify Credentials and Experience 

Financial planning is a highly specialized field, and credentials matter. Look for advisors who hold respected designations such as: 

• CFP® (Certified Financial Planner)
• CPA (Certified Public Accountant)
• CFA (Chartered Financial Analyst)
• ChFC® (Chartered Financial Consultant) 

These certifications indicate extensive education, training, and ethical standards. 

You should also consider an advisor’s experience. How long have they been helping clients? Do they specialize in specific life stages or professions — such as small business owners, retirees, or families with young children? 

4. Ask About Their Planning Approach 

Every advisor has a slightly different process, and it’s important to find one whose philosophy matches your comfort level and goals. 

At Allgood Financial, we take a relationship-first approach. We don’t just manage your money — we partner with you to create a long-term financial roadmap tailored to your life. Our process includes: 

• Discovery: We get to know you — your goals, family, values, and priorities.
• Planning: Together, we build a customized plan that covers investments, retirement, tax efficiency, and protection strategies.
• Implementation: We put your plan into action and adjust as needed.
• Ongoing support: As life evolves, we’re here to help you stay on track, year after year. 

This comprehensive approach ensures that your plan grows and adapts alongside you. 

5. Understand How the Advisor Is Paid 

Transparency in compensation is key when choosing a financial advisor. Advisors typically fall into one of three categories: 

• Fee-only: Paid a flat fee or percentage of assets under management (AUM). They don’t receive commissions for product sales, reducing conflicts of interest.
• Commission-based: Earn income from selling financial products.
• Fee-based: A mix of both fee and commission compensation. 

At Allgood Financial, we believe in clear, transparent pricing. We explain how we’re compensated upfront so you can make informed decisions without surprises. 

6. Evaluate Communication and Accessibility 

Your financial advisor should be someone you feel comfortable talking to — someone who listens to your goals, explains strategies clearly, and is available when you need guidance. 

When meeting potential advisors, ask: 

• How often will we meet to review my plan?
• How quickly do you respond to questions or market changes?
• Do you offer in-person and virtual meetings?