What to Look for in a Wealth Management Firm

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  • September 22, 2018

Identifying a wealth management firm that is a challenging decision with implications for your future. When entrusting an individual or firm to take the lead on your financial affairs, you’ll want to consider a few key factors.

Core Competencies

It goes without saying that the firm you select should have strong core competencies as they relate to wealth management. While hiring someone who specializes in wealth planning and investing is wise, engaging a firm that also has strong experience in services like trust services or borrowing is wise as you may need those services down the road. By selecting a well-rounded firm with a deep bench of experiences, you won’t have to go back to square one as your needs evolve. It doesn’t hurt to ask about clients the firm has worked with that have situations similar to your own. This is especially relevant if you have a unique situation requiring specialized experience.

Service Philosophy

Not all wealth management firms are created equal. Ask the tough service philosophy-related questions on the front on to have a clear understanding of how your working relationship will function. Align yourself with a firm that matches your preferred levels of service. Are you someone who prefers to work directly with your wealth manager and meet on a regular basis? Communicate that preference openly.


A critical quantitative piece of information you’ll want to request, performance. You’ll want to look for a firm that can illustrate consistent results over a period time, at least several years. This should apply to both wealth management and portfolio management.

Ultimately, when selecting a wealth management firm, trust your instinct, do your due diligence and don’t hold back no asking the questions you deem important.


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