WiserAdvisor offers a helping hand in narrowing down your financial advisor choices.
It's difficult to find a financial advisor you can trust. WiserAdvisor vets all their advisors and will match you with an advisor that meets your criteria in just a matter of minutes.
We explore what WiserAdvisor does and how the platform works to help you decide if it’s a useful tool for your situation.
Quick Summary
- WiserAdvisor connects individuals with pre-screened financial advisors.
- It’s free to use the tool. But the advisor you find will charge fees for their services.
- Every professional on the platform has a clean record and FINRA/SEC registration.
WiserAdvisor Details | |
|---|---|
Service | Connecting individuals with a financial advisor |
Fees | No match fee |
Free Consultation | Yes |
Promotions | None |
What Is WiserAdvisor?
WiserAdvisor is an online directory of financial advisors. The service initially launched in 1998, which means it’s been around the block. While the main goal is to offer a match to several possible financial advisors, you’ll also find educational content available through the platform.
What Does It Offer?
WiserAdvisor is a directory of financial advisors that will match you with a financial professional, or you can search through lists based on location.
There are also financial resources on the website, such as retirement calculators and informational articles.
Directory Of Vetted Professionals
The key feature of WiserAdvisor is that you can tap into this directory of vetted financial advisors. Each advisor included in the platform is registered with FINRA/SEC and has a clean record.
As you explore the options, you can find helpful information about each advisor. Some of the details include their SEC number, the number of advisors at the firm, the amount of assets under management, the services provided, and the fee structure they use.
Matching Services
As an individual, you can use WiserAdvisor to find a local financial advisor that suits your needs. The process starts by filling out a quick form about your finances. From there, you’ll be matched with one to three financial advisors. If you like one or any of the advisors, you can interview them before moving forward.
Notably, the directory includes both fee-only and fee-based advisors. You won’t have the option to filter by fee structure, which might be an issue if you are looking for a fee-only advisor.
You can search by state, rather than filling out a profile, to find an advisor near you. While you can't sort by Fee-Only or Fee-Based, it does clearly state their fee structure so it's fairly easy to scan for what you're looking for.
Related: How To Vet A Financial Advisor
Financial Education Resources
In addition to matching you with an advisor, you can tap into free educational resources through WiserAdvisor. The blog has some useful information about financial planning. But you’ll also find a suite of calculators to help you run the numbers for your own financial situation.
The platform has several retirement planning calculators. You can also use a savings goal calculator and an inflation calculator.
Are There Any Fees?
It’s free to use WiserAdvisor as a matching service. Instead of charging you a fee, WiserAdvisor charges the listed advisor fees.
When you start working with a financial advisor you found through the platform, the fees can vary dramatically. For example, you can find fee-only advisors, who charge you a flat rate for helping you prepare a financial plan. Or you can find fee-based advisors, who charge you a fee on the percentage of assets under management. Some of the advisors also earn money through commissions.
Make sure to get clear on which type of fees you want to pay before seeking out an advisor. If possible, opt for a fee-only financial advisor.
How Does WiserAdvisor Compare?
Nectarine is new to the game of matching people to financial advisors. The key difference is that it only works with advisors who charge a flat rate of $150 per hour. It’s helpful to know what you are getting yourself into cost wise, and Nectarine makes that a bit easier to keep an eye on. The advisors in the platform are licenses and registered fiduciaries.
Zoe Financial also connects you to potential financial advisors, which they claim are in the top 5% of their field. It’s not clear how they determine who belongs at the top. But advisors must have at least 5 years of industry experience and be fiduciaries.
Header | |  |  |
|---|---|---|---|
Rating | |||
Pricing | Free to match. Each financial planner will have their own fee structure | Free to match. Advisors charge $150 an hour | Free to match. Each financial planner will have their own fee structure |
Fee-Only | Both Fee-Only and Fee-Based advisors available | Yes, all advisors | Both Fee-Only and Fee-Based advisors available |
Minimum Investment | $50,000 | None | No minimum investment amount needed to be matched, but you may have few choices with smaller amounts |
Free Consultation | Yes | No | Yes |
Cell |
How Do I Open An Account?
If you want to work with WiserAdvisor, you’ll start by providing your zip code. From there, you’ll answer a series of questions about your financial situation. Some details include when you want to retire, if you own a home, if you own a business, your household income, and more.
You’ll likely get your matches in a matter of minutes via email.
Is It Safe And Secure?
WiserAdvisor doesn’t share your information with anyone, except the matched advisors. This means you shouldn’t get spam calls from thousands of advisors by choosing to work with this platform.
How Do I Contact WiserAdvisor?
You can get in touch with WiserAdvisor through a contact form on their website, emailing wa.assistance@wiseradvisor.com, or by calling 703-651-2060.
In general, people seem to enjoy WiserAdvisor’s service. It’s even earned a 4.1 out of 5 star rating through Trustpilot.
Is It Worth It?
If you are looking for a financial advisor and don’t know where to start, WiserAdvisor could be the connection you are looking for. While you’ll enjoy a simplified search process, you’ll need to find out more about the matched advisors fee structure before moving forward. If possible, choose to work with a fee-only financial advisor and avoid any assets under management fees.
WiserAdvisor Features
Services | Connecting individuals with a financial advisor |
Pricing | No fee to get matched |
Free Consultation | Yes, all advisors on the platform offer free consultations |
Customer Service Number | 703-651-2060 |
Customer Service Email | wa.assistance@wiseradvisor.com |
Promotions | None |
WiserAdvisor Review: Find A Financial Advisor
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Summary
WiserAdvisor vets all their advisors and will match you with an advisor that meets your criteria in just a matter of minutes.
Pros
- Simple process to find a financial advisor
- No upfront fees
- No obligation to hire any of your matches
Cons
- Must review potential matches to ensure quality
- Cannot filter financial advisors by fee structure
Sarah Sharkey is a personal finance writer covering banking, insurance, credit cards, mortgages and student loans. She has written for numerous finance publications, including MagnifyMoney, Business Insider and ChooseFI. Her blog, Adventurous Adulting, helps young adults get a handle on their finances.
Editor: Ashley Barnett Reviewed by: Robert Farrington