SmartAsset Financial Advisor Matching review

Who is a financial advisor matching service best for?

SmartAsset advertises its ability to connect you with up to three advisors who match the criteria you establish at signup, supporting both:

• New investors. Newcomers can find investing a daunting prospect. Third-party services like SmartAsset match you with an advisor who can help you through the process, even if you don’t know where to start.
• Long-term investors. If your situation requires more specialized help, SmartAsset can connect you with an advisor who can guide you toward the future, retirement and more.

How does financial advisor matching work?

SmartAsset considers your financial goals to match you with a local advisor who can help you reach them in three steps:

• Sign up. Tell SmartAsset your financial details, investment goals and advisor preferences.
• Match. Its algorithm pairs you with up to three vetted advisors in your area who match your preferences.
• Book. Your advisor contacts you within a few business days to set up an appointment.

What are the benefits of tailored financial advice?

SmartAsset’s free matching tool simplifies narrowing down an advisor to get you the financial advice you need:

• One form for multiple matches. You answer 20 questions about your financial situation and goals for personalized matches that fit your criteria.
• Vetted advisors. Advisors with SmartAsset are registered with the SEC or an appropriate state regulator and have no active disclosures in the last 10 years.
• Concierge service. A live team member is available to help navigate the process of interviewing and selecting a financial advisor from available matches.
• Easy booking. After you’re matched, book an appointment with the advisor of your choosing online or through SmartAsset.
• Online access. If you’re not able to find an advisor in your neighborhood, you can work with a remote advisor better suited to your needs.

What to watch out for

Before signing up with SmartAsset for financial advisement, weigh the convenience against potential pitfalls:

• Advertising. It’s not clear how advisors are paid — whether to be a part of its network, when you click them from your match list or in some other way — leaving room to doubt the advisors you’re matched with.
• Limited reviews. While SmartAsset says that it reviews advisors before accepting them to its platform, the service itself garners few online reviews.
• Varying fees. Because SmartAsset doesn’t employ advisors directly, it’s up to the professional to set their fees, making it hard to predict what you’ll end up paying.

SmartAsset reviews and complaints

As of October 2020, you won’t find many customer reviews for SmartAsset online. Nor does the company have a page with the Better Business Bureau. If you’re matched with an advisor , you may be able to search the person by name to learn more about them and read individual reviews about their services.

How do I get started?

1. Fill out the 20 questions online to be matched with a financial advisor based on your answers.
2. Visit the SmartAsset website and click Find a financial advisor.
3. Enter your ZIP code and click Get started.
4. Answer each of the questions, clicking Next after each prompt.
5. Enter your email, name and phone number, then submit your questionnaire.
6. You’re matched with up to three advisors you can contact directly, or request they contact you with a consultation.

How do I contact SmartAsset customer service?

After you’re matched with an advisor, you’re able to contact them directly or book appointments online and through the site’s concierge. To contact SmartAsset, email info@smartasset.com.

I’m matched with an advisor. Now what?

Get the most out of SmartAsset’s advisor-matching service by setting up a consultation with the advisors you’re matched with. Gather information on your assets, debts, income and taxes, and review the plans and goals you’d like to discuss.
You’ll be entrusting your money to the advisor you ultimately choose. Look for candid answers to questions like:

• Are you a fiduciary? Rather than merely recommend products to customers, fiduciaries focus on the best interests of their clients.
• What are your qualifications? Look for licensing, credentials and other designations you can learn more about from FINRA’s Professional Designations database.
• What are my fees and minimums? Review the advisor’s fee structure and any account requirements to make sure it’s a fit with your budget.
• Who are your typical clients? Learning who the advisor is familiar with can help you determine whether their philosophy meets your own — especially important when the market falls.
• How can I reach you? Find out whether the advisor’s business hours, contact flexibility and appointment availability is a match for your busy schedule.

Stay in touch with your advisor to track progress, manage accounts and adjust your portfolio as your goals and the market change.

Bottom line

SmartAsset can match you with vetted financial professionals that meet the criteria you establish using more than 20 comprehensive questions at signup. But it’s not clear how these advisors are paid through the network.
For more ways to find financial guidance, compare other financial advisor services.

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Frequently asked questions

• Will I pay a fee to SmartAsset for the match?

  No, SmartAsset makes money by charging advisors for leads.

• Will my advisor help with taxes?

  Yes, if you indicate in your survey that you're looking for tax help. You can speak about the particulars of your needs in your initial consultation.

• Are SmartAsset financial advisors qualified?

  Yes — but not all are fiduciaries, which comes with a legal duty to act in your best interest. When you review potential matches, confirm their fiduciary status in the results.

• What if I don't like my potential matches?

  You can take the survey as many times as you'd like. If you aren't interested in local choices, you can opt to work remotely with advisors outside of your area.

SmartAsset Financial is not currently available on Finder

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Written by

Peter Carleton

Writer

Peter Carleton is a freelance writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading. See full bio