Want to Hire a Remote Financial Adviser? What to Consider

By Kelli Kiemle,  AIF®, Managing Director of Growth and Client Experience as featured in Kiplinger 

Working with a financial adviser who isn’t local isn’t as big of a deal as it used to be, but there are still some things to think about before diving in.

Since 2020, the world has changed how we work and interact with one another. It has particularly impacted how investors meet with their financial advisers.

From my experience, most investors preferred to meet with their adviser in-person pre-pandemic.

Post-pandemic, I have seen a huge shift, and most investors now prefer to meet with their adviser on Zoom because of its convenience.

Clients can now meet with their adviser from anywhere in the world or the convenience of their kitchen.

This presents a considerable advantage for investors — you now have an endless supply of advisers at your fingertips and are not limited to those in your local area. In my previous article How to Find a Financial Adviser, I emphasized that the most important thing in an adviser relationship is their ability to listen to their clients and understand their clients’ “why” beyond the usual numbers and risk tolerances. This still stands and is incredibly important.

In this day and age, you don’t need to work with a local adviser, especially if you are comfortable using technology. If you choose a non-local adviser, focus on their credentials — a Certified Financial Planner™ (CFP®) is a must, along with their experience and your chemistry with them. It’s also very important to ask for references, as most advisers will have a list of clients willing to speak to prospective clients on their behalf.

I would rely less on website reviews, as most firms have not implemented them yet due to compliance restrictions.

Read on for three critical aspects to consider when working with an adviser remotely.

1. Figure out the role technology plays.

One important element to consider is how comfortable you are using technology. Being advised remotely will require a lot more technology, as you can’t pop into an office to sign a form or drop off a document — everything will need to be sent securely, as email should not be used to send confidential documents.

Firms set up to do business virtually should be able to do everything over the internet — signing forms, sharing trust documents through a secure portal, sending timely reports, etc.

With that being said, sometimes people prefer to be in person for a stronger sense of connection to an individual.

If this is the case for you, then working with an adviser remotely is probably not for you.

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