Hiring a financial adviser is one of the most important decisions you’ll make in your lifetime. This isn’t just about growing wealth—it’s about protecting your future, providing for your family, and ensuring that you make smart, informed decisions with the assets you’ve worked so hard to build.
At REAP Financial, we’ve seen firsthand how the right adviser can completely change the retirement experience. So, how do you find the right one? How do you know who you can trust?
Let’s break it down.
How to Evaluate and Choose the Right Financial Adviser
Understand the Types of Advisers
Not all financial advisers are the same. Some are commission-based. Others charge hourly. Some work on flat fees. You’ll also hear terms like fiduciary, broker-dealer, and fee-based. These differences matter—especially when it comes to whose interests they serve.
A fiduciary adviser is legally obligated to act in your best interest. They must recommend strategies, investments, and tools that benefit you—not them. On the other hand, brokers are typically held to a suitability standard. That means they can recommend products that are suitable, even if they’re not the best fit for your goals.
The first question you should always ask is: Are you a fiduciary?
How Are They Paid? Transparency Is Key
The next thing to consider is how your adviser gets paid. Do they earn commissions from the products they sell? Do they charge a flat fee or an hourly rate?
At REAP Financial, we often see new clients come in with portfolios full of mutual funds that carry unnecessary fees, sales loads, or high expense ratios. These hidden costs can erode long-term returns and aren’t always necessary.
If your account is being actively traded, that could also be a red flag. Frequent buying and selling may indicate commission-driven behavior or unnecessary transaction costs that chip away at your investment performance. Make sure you understand the reasoning behind any portfolio activity.
A trusted fiduciary adviser typically charges a flat percentage fee based on the assets they manage. This gives you complete clarity on what you’re paying and eliminates conflicts of interest tied to commissions or product sales.
Do You Know What You’re Paying Right Now?
Many investors have no idea how much they’re actually paying in fees. If you have a 401(k), there may be multiple layers of cost—expense ratios, custodial fees, administrative fees, and more.
Even if you’re working with a professional adviser, there could be fees inside the investments themselves, in addition to what the adviser charges. Take time to review your statements and ask the right questions. Knowing what you’re paying is a critical step toward protecting your retirement income and wealth strategy.
Want to Learn More? Get Our Free 2025 Report
To help investors like you stay informed, we’ve put together a brand-new report for 2025 titled “Guard Your Golden Years.” It’s a free resource designed to help you understand how to protect your portfolio and optimize your retirement strategy.
Here’s how to get the free 2025 report
To receive your copy, simply email retire@reapfinancial.com and put “Golden Years” in the subject line. We’ll send it straight to your inbox.
It’s About More Than Money
Many couples we work with divide responsibilities. One spouse handles the finances; the other manages the household. That’s a common and functional setup—until something unexpected happens.
Hiring a fiduciary adviser can provide peace of mind for both partners. It ensures that if one spouse becomes ill or passes away, the other isn’t left to figure it all out alone. A good adviser is someone you can trust to step in with clarity, compassion, and experience.
And it’s not just about emergencies. A fiduciary can help ground your decision-making and provide objective advice every step of the way. They keep you focused on the long term, help you avoid emotional missteps, and serve as a guide through life’s financial complexities.
Look for a Relationship That Feels Right
Ultimately, trust is about connection. You want an adviser who takes time to understand your goals, your concerns, and your unique needs—someone who communicates clearly, answers your questions, and helps you feel confident in your financial plan.
That’s the standard we hold ourselves to at REAP Financial.
Contact REAP Financial
Phone: (512) 249-7300
Email: retire@reapfinancial.com
Office Address: 9414 Anderson Mill Rd #100, Austin, TX 78729
Additional Resources
Looking for more guidance on how to work with a fiduciary adviser or optimize your retirement plan? Check out our video on retirement tax strategies or browse our library of free financial planning tools at wealthradio.com.
Chris Heerlein, a Texas native, is the CEO of REAP Financial and founder of REAP Private Client Group (RPCG), specializing in wealth creation, preservation, and growth for affluent individuals, business owners, and executives. RPCG provides financial and investment advice, advanced tax strategies, business succession planning, and excellent client service. Chris is a trusted financial advisor, author of Divorce With Dignity (2019) and Money Won’t Buy Happiness But Time to Find It (2017), and a columnist for Kiplinger Personal Finance Magazine.
He has been featured in Fortune, Money Magazine, Bloomberg Businessweek, and U.S. News & World Report. Chris also hosts Wealth Radio on NewsRadio KLBJ and is a sought-after speaker. Based in Austin, Texas, he lives with his wife, Hannah, and their three children and actively supports charitable causes.
