Datalign Advisory Review: Find the Right Financial Advisor for Your Unique Needs
Written by
Jacob Wade
Edited by
Kristen Mae
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GOBankingRates Score
Datalign
-
Services
5.0
-
Fees
5.0
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Benefits
4.5
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Customer Service
3.5
Pros
- Matches you with sworn fiduciary, fee-based advisors
- No platform fees
- In-depth matching for tailored results
Cons
- Can't skip questions in questionnaire
- Limited customer support
Datalign Advisory Overview
Datalign Advisory is a financial planner matching service that helps pair you with a licensed financial advisor based on answers to a detailed questionnaire that you fill out. The platform has a referral network of thousands of fiduciary financial advisors that are fee-based, meaning most advisors charge a flat fee and don’t receive commissions for selling you financial products.
Datalign is an important service if you’re looking to hire a financial advisor but don’t know where to start or who to trust. It has a strict vetting process and uses AI to help perfectly match you with a local financial advisor in your area.
Datalign only works with fiduciaries–advisors who are sworn to put your best interests first. This helps consumers avoid financial planning and advisors who focus more on selling high-commission financial products, such as life insurance and annuities.
Datalign uses a detailed questionnaire to match you with an advisor who can help you with your investment needs. There are several questions to assess your risk tolerance, the type of investing you wish to do and your priorities. Based on these factors, Datalign pairs you with the best-fit advisor from its database of thousands.
Datalign Advisory Key Features
Here are a few features of Datalign that help it stand out:
Advisory Matching Service
Datalign uses artificial intelligence and a stringent vetting process to match you with a fiduciary financial advisor. The platform uses a detailed questionnaire to help find an advisor that specializes in your financial situation and can offer the services you require.
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You’ll be asked questions about your current investments, risk tolerance and financial priorities. You’ll also select the type of advisor you’re looking for (such as “tax-focused” or “retirement planning“). After completing the questionnaire, you’ll be paired with at least one advisor option, and they’ll reach out via email or phone for a free consultation.
No Platform Fees
Datalign doesn’t charge any fees to use its advisory search platform. Since Datalign is a referral tool, it likely collects a commission for referring a client to a specific advisor. But Datalign still only works with vetted advisors who are licensed and overseen by the Securities and Exchange Commission. In fact, when you’re paired with an advisor, Datalign automatically links to the SEC website, where you can review the advisor’s credentials and any disclosures or complaints against them.
User Benefits
Datalign takes the hard work out of finding a financial advisor and eases fears of being overcharged or ripped off. By only working with fiduciaries, Datalign ensures that commission-based advisors aren’t part of the referral network, and clients always receive the highest level of services.
Most financial advisor matching services filter advisors based on your net worth and location. Datalign takes it a step further, matching you with an advisor based on your financial focus. It offers advisor services specializing in estate planning, tax planning, retirement planning and other financial services.
And Datalign allows you to opt out of getting a phone call, even though they require submitting a phone number. This keeps you in control of how you interact with potential advisors.
Customer Support
Datalign offers basic customer support through their website and via email. This is typical for a referral service since most of your customer support will come though working with an advisor directly. Since Datalign is a middleman, there’s little need for customer assistance. However, if the tool doesn’t work properly or if you have a question, you can email Datalign customer service for help.
How Datalign Advisory Stands Out
Datalign harnesses the power of AI and a detailed questionnaire, paired with a stringent vetting process, to refer only quality financial advisors. This takes the guesswork out of finding a trusted financial planner for your needs. Plus, Datalign works exclusively with fiduciaries, protecting you as a consumer by only referring advisors who always put your needs first.
Comparable Advisory Marketplace Options
If you don’t want to use Datalign, here are a few other financial advisor marketplace platforms to consider:
Advisor.com
Advisor.com is another financial advisor matching platform that only refers fiduciary financial advisors licensed and regulated by the SEC. To get matched, you’ll answer a few questions and submit your contact information. A matched advisor will reach out, and you can participate in a free consultation to ensure it’s a good fit. Like Datalign, there are no fees to use this tool, but you can’t opt out of getting a phone call or email to see your matched advisors.
Nectarine
Nectarine is a new financial advisor referral service that allows you to work with fee-only financial advisors who will never receive a commission for selling you financial products. All advisors are fiduciaries and licensed but don’t charge an Assets Under Management fee. Instead, you’ll pay an hourly rate or for a financial planning package, and the advisors will give customized advice and help you implement the plan. Nectarine doesn’t charge a fee to use the platform, but lists advisor rates transparently.
How To Apply To Datalign Advisory
You don’t have to apply for the service or sign up for anything to use Datalign. You can simply jump on the website, answer the questions in the questionnaire, and then get in contact with a recommended financial advisor. Once you start working with an advisor directly, Datalign is no longer involved in your financial planning process.
Who Datalign Advisory Is Best For
Datalign is best for anyone who wants to get in touch with a financial advisor without worrying about being sold financial products they don’t need or services that aren’t necessary. Datalign acts as a powerful filter, connecting you with highly vetted advisors who will recommend investment products and strategies aligned with your goals. If you don’t want to interview dozens of advisors to find one you can trust, Datalign may be a good fit.
Final Take
Datalign makes it easy to quickly find a local advisor who can help you with your specific financial needs. With a detailed questionnaire that takes less than 10 minutes, you can match with an advisor specializing in the area of financial advice you need. And you don’t have to sign up for an account or pay for any fees with Datalign, making it even easier to jump right in. Even if you don’t end up working with a recommended advisor from Datalign, it’s a valuable way to filter highly vetted financial advisors to chat with.
FAQ
Here are answers to some frequently asked questions about Datalign Advisory.- What is Datalign advisory?
- Datalign Advisory is a financial advisor matching service that helps you find a local fiduciary financial planner to work with. Datalign Advisory doesn't charge any fees, and you don't have to sign up for an account to use the tool. You will fill out a questionnaire that highlights your specific financial needs, and the tool's AI engine will help match you with the most appropriate local advisor.
- Are advisory accounts worth it?
- Financial advisors can be worth it if you need assistance coming up with a financial plan and investing for long-term goals, like retirement. Good, fee-only financial advisors can help you create a plan, come up with a tax strategy, and balance your investments for risk and growth. But the fees can be high, and it's important to calculate the cost of working with an advisor before hiring one.
- What financial advisor has the lowest fees?
- Vanguard Personal Advisor only charges 0.30% advisory fee and is one of the lowest-cost options available. Most licensed financial advisors charge anywhere from 0.75% to 1.50% annual fees based on the total asset balance being managed. This is known as an "Assets Under Management" fee and can have a significant impact on your investments. The lowest-fee financial advisors work in a hybrid model—with a robo-advisor platform coming up with the plan and investing your money—but the advisor answering questions.
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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