Financial Planning

How To Choose a Wealth Advisor

August 22, 2022

Experience how Washington Trust helps you write your complete wealth story

Selecting and building a successful relationship with a wealth advisor doesn’t need to be difficult or overwhelming if you have a sound strategy in place. While the options may seem daunting, we recommend focusing on three core aspects when determining which advisor to select: size, type, and style.

Size: Select a firm that is large enough to offer sophisticated solutions, but small enough to customize those solutions for you

We are all familiar with the “Goldilocks” story. When choosing a financial advisor, it should feel “just right!”

In today’s complex financial markets, you should have access to a team of experts and a sophisticated array of solutions. You deserve exceptional service from an advisor that knows your name and your family. Great firms are well-established, stable, and help you manage assets across generations. They proactively deliver solutions that address your entire financial life, providing a team of experts to meet your needs while coordinating seamlessly with all your other advisors.
At Washington Trust Wealth Management, we offer a mix that is “just right.” We are large enough to offer state-of-the art financial planning, a deep bench of talent, and a robust investment research group that generates the best ideas for our clients. Yet, we are personal in our approach, offering you a dedicated service team, a financial plan and portfolio tailored to your specific needs, and locally based decision makers who can customize your unique client experience.

Type: Find the right type of financial advisor for you

Different types of financial advisors have substantially different business models and operating principles – all of which can impact your fees and the services you receive.

The Washington Trust Advantage

At Washington Trust, we operate as a Registered Investment Advisor and Trust Company. Some of the advantages of our structure include:

Commission-Free Advice:We are a fee–only firm and charge based on assets under management. We never receive “extra fees” for recommending specific investments or proprietary solutions.
A Fiduciary StandardAs a fiduciary, we operate at the highest level of ethical standards which requires us to put our clients’ interests above our own. These standards are much more rigorous than the “best interest” or “suitability” measures that govern other advisors.
Comprehensive and Coordinated SolutionsOur relationship with our clients goes beyond financial planning and investment advice. We can help our clients implement a complete solution including trust services, lending, and banking so their entire financial life is well coordinated, working together to meet their goals.

Style: Access a planning-centric, customized, and comprehensive solution

Some advisors are investment focused, while others integrate planning into the process.

At Washington Trust, financial planning is core to everything we do. We develop customized plans based on your unique personal needs, goals, and the stages of your life. We don’t simply rely on the output from an app or a standard “playbook.” Our customized approach to planning considers both sides of a client’s balance sheet. We collaborate with you to set your objectives. Then we create your investment strategy, design your personal portfolio, and create options for you to use insurance, borrowing, and cash management tools to help you control risk and access cash when you need it. As your personal advisor, we will meet with you to anticipate your financial needs so your plan can evolve over time – in real time – should your needs change.

Connect with a wealth advisor

No matter where you are in life, we can help. Get started with one of our experts today. Contact us at 800-582-1076 or submit an online form.

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This material is presented for informational purposes, and nothing herein constitutes legal, accounting, or tax advice. Please consult with an attorney or tax professional regarding your specific financial, legal or tax situation.

The views expressed here are those of Washington Trust Wealth Management and are subject to change based on market and other conditions. Investment recommendations and opinions expressed in these reports may change without prior notice. All material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed.