WiserAdvisor Review: Connect with Pre-Screened Financial Advisors at No Cost
Written by
Jacob Wade
Edited by
Melanie Grafil
Commitment to Our Readers
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GOBankingRates Score
WiserAdvisor
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Services
4.5
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Fees
5.0
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Benefits
4.5
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Customer Service
4.5
Pros
- Easy-to-use matching service
- Access to free calculators and educational articles
- Searchable database of financial advisors
- No platform fees
Cons
- Questionnaire not very detailed
- Limited support
WiserAdvisor Overview
WiserAdvisor is a financial planner matching service that connects you with vetted and licensed financial advisors in your area. Established in 1998, it’s one of the oldest financial advisor referral platforms available today.
While advisors can pay to be listed on WiserAdvisor, all advisors must maintain a clean record with regulators and pass an interview process with WiserAdvisor to qualify for inclusion.
WiserAdvisor refers only fee-only or fee-based financial advisors. Fee-only advisors typically charge an Assets Under Management fee based on the balance of your investments, while fee-based advisors may charge an AUM fee and collect commissions from some financial products. It’s always a good idea to ask an advisor how they are paid before hiring them.
Using WiserAdvisor is simple. Just visit the website, complete a short questionnaire about your finances and goals, and you’ll be matched with up to three financial advisors.
Key Features
Financial Advisor Matching Service
WiserAdvisor’s built-in matching service connects you with a local advisor based on your answers to a few specific questions. The service collects information about your age, assets, financial goals, and location, then matches you with up to three local advisors who have been vetted by the platform.
The questionnaire doesn’t go into detail about investing strategies or risk tolerance, but is more focused on your current assets and long-term financial plans. Once you match with an advisor, they may reach out via phone or email to set up a quick consultation. The initial call is usually free, and it’s a great way for you to interview the advisor and see if they’re a good fit.
Thanks!
No cost
WiserAdvisor is a free tool that allows you to get matched with a local financial advisor, or scroll through a database of vetted financial advisors you can work with. The platform earns money through referral fees from the financial advisory firms listed on the site, but you won’t be charged for using the service. Keep in mind, however, that once you hire an advisor, they will charge their own fees.
Platform Benefits
WiserAdvisor has been helping clients find trusted advisors since 1998. And while the matching service helps you find a local advisor who is a fiduciary and licensed, the platform also offers a few other free tools.
If you’re not satisfied with the advisors WiserAdvisor matches you with, you can browse the full database instead. You can filter by years of experience, assets under management, minimum investment requirements, and fee structure.
WiserAdvisor also provides free financial calculators to help you plan for retirement or calculate investment returns. Additionally, the site offers a wide array of articles and guides to help with retirement planning.
Customer Support
WiserAdvisor offers customer support via phone and email from Monday through Friday, 8:30 a.m. to 5 p.m. Eastern time. This level of support sets it apart from other financial advisor matching services, many of which only provide an email option. You can also browse a detailed FAQ for answers to common questions or read helpful articles on the WiserAdvisor website.
How WiserAdvisor Stands Out
As one of the longest-standing financial advisor referral services, WiserAdvisor has been helping clients find trusted advisors for over 25 years. The questionnaire is quick and easy to complete, and the extensive database of advisors makes it easy to find someone near you. WiserAdvisor also offers a variety of tools and articles to help educate you on retirement planning, what to look for, and questions to ask your advisor. As a no-cost service, WiserAdvisor is one of the better financial advisor matching services available.
Comparable Advisory Marketplace Options
If WiserAdvisor isn’t right for you, here are a couple of other financial advisor marketplace platforms to consider:
Datalign
Datalign is a financial advisor matching service that uses AI and a detailed questionnaire to connect you with a suitable fiduciary financial advisor in your area. While its database isn’t as large as WiserAdvisor’s, there are thousands of highly-vetted financial advisors on the platform–and Datalign narrows down your choice by connecting you with advisors who specialize in different areas of finance.
Nectarine
Nectarine is a newer financial advisor matching service with a transparent and unique pricing model. Nectarine doesn’t charge a fee for the service, and advisors on the platform charge only hourly or flat one-time fees. This can be a cost-effective option for those who need financial advice but don’t want to commit to ongoing management fees.
How To Get Started With WiserAdvisor
You don’t need to apply to use WiserAdvisor. Simply go to the website, answer a few questions, and get a list of local advisors to contact. You can also just browse the full database of advisors to find one that suits your needs.
Who WiserAdvisor Is Best For
WiserAdvisor takes the guesswork out of finding a trusted financial advisor. With a strict vetting process and transparency around advisor credentials, it’s easy to find someone who can act as a true fiduciary for your finances. You can browse the site to compare multiple advisors and usually interview them for free before deciding.
Final Take
WiserAdvisor is a solid, no-cost tool that helps you find local advisors who have the experience and credentials to help you invest. Whether you prefer browsing through options or using the matching tool, it’s a helpful resource for those looking to invest with professional guidance. The platform has been around since the ’90s, making it one of the more robust advisor matching tools available.
FAQ
Here are answers to some frequently asked questions about WiserAdvisor:- Is WiserAdvisor reputable?
- Yes. WiserAdvisor is a reputable financial advisor matching service that has been around for more than 25 years. Advisors listed are fee-only or fee-based and have a clean record with regulators. There's no cost to use the tool, and it offers a transparent way to compare several advisors in your area.
- Is it worth paying a financial advisor?
- Hiring a financial advisor can be a good idea when you need to save for retirement or meet other financial goals, but aren't sure where to start. Advisors can help with budgeting, investing, and retirement planning. Most charge around 1% of your total portfolio annually, but if you find a trusted advisor to handle the details of your investment plan, you may find it's worth the cost.
- How does a Wiser Advisor work?
- WiserAdvisor is a referral service that connects you with licensed financial advisors in your area. By answering a few questions about your financial situation, WiserAdvisor will match you with a few local advisors. You can also browse the full list of vetted advisors on the website and choose one on your own.
Information is accurate as of September 24, 2024.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
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