Where to Find Professional Financial Advice Online

Finding professional financial advice online has become more accessible with the growth of digital platforms and services. Now, individuals can connect with financial advisors through many websites, apps and online networks to receive guidance on everything from retirement planning to investment strategies. These services often offer flexible options, allowing users to choose from robo-advisors that provide automated advice, traditional advisors who can offer more personalized plans and hybrid services that blend those two options.

Use our SmartAsset tool to find the right financial advisor for you based on your future financial goals.

Types of Financial Advisors

Robo-Advisors

Robo-advisors are automated platforms providing financial advice and portfolio management services. They rely upon algorithms and software, with minimal human intervention. These services offer a hands-off, cost-effective solution for managing your investments, as they often charge lower fees compared to traditional advisors.

To begin working with a robo-advisor, you can sign up through a website or app. Complete the necessary questionnaires and deposit funds into your account. The platform will automatically allocate your investments into diversified portfolios and then regularly rebalance them to remain aligned with your goals. 

Additionally, robo-advisors often offer features such as tax-loss harvesting and retirement planning tools to enhance your experience.

Popular Robo-Advisors

These best robo-advisors are a good fit for those comfortable with technology who are seeking a low-cost, digital investment management solution.

• Betterment: Ideal for those who want a hands-off investment experience, Betterment features tax-loss harvesting and retirement planning tools. An initial deposit of $10 is required, and fees are 0.25% annually, or $5 per month. ¹
• Wealthfront: Wealthfront requires a $500 minimum for investment accounts and charges a 0.25% annual fee on assets under management. ² The platform offers features such as automated rebalancing, tax-loss harvesting and robust financial planning tools.
• SoFi Automated Investing: SoFi’s automated investing platform has a $50 minimum for a Robo account, and it charges no commissions or maintenance fees, only a 0.25% annual advisory fee. ³ This can make it a good fit for new investors or those looking for an affordable way to start investing on a small budget.
• Schwab Intelligent Portfolios: Schwab requires a $5,000 minimum to start, with no advisory fees, only ETF expense ratios.⁴ Tax-loss harvesting is available, with 24/7 phone and live chat support.

Traditional Financial Advisors

Traditional financial advisors provide personalized, one-on-one advice on a range of financial topics, including:

• Retirement planning
• Investment strategies
• Tax planning
• Estate management

They may also manage investments, create detailed financial plans and adjust strategies as clients’ financial goals evolve.

Because clients have varying income levels and financial complexity, these advisors offer tailored advice based on each person’s unique circumstances. Many clients seek traditional advisors for a hands-on approach that includes regular meetings, customized portfolios and the ability to address complex financial needs. Plus, advisors often offer both in-person and virtual consultations, giving clients flexibility in how they receive their guidance.

To find a traditional advisor online, you can start by using resources like the Financial Planning Association (FPA) directory or the CFP® Board, which connects you with local Certified Financial Planners™ (CFP®s). These platforms often provide a convenient way to compare advisor qualifications, specialties and fees, all of which are important to weigh to find the right fit for your financial goals.

SmartAsset’s financial advisor matching tool is also a convenient way to connect with fiduciary financial advisors in your area. After a quick survey covering your finances and investments, it will match you with financial advisors according to your location, amount of assets and preference for virtual advisors.

Hybrid Advisors

Hybrid advisors combine the convenience of robo-advisors with the personalized service of traditional financial advisors.

These platforms use automated technology to manage investments while offering access to human advisors for more complex decisions. Often, this model is a good fit for those who want to keep costs lower than those of a traditional advisor while still benefiting from personalized guidance when needed.

Hybrid services allow users to automate their portfolios and receive help from credentialed advisors for financial planning. These platforms suit a broad range of investors, from beginners to more experienced investors, depending on the level of human interaction desired.

Examples of Hybrid Advisors

These popular hybrid advisory services offer automated investment management with access to live financial advisors.

• Vanguard Personal Advisor Services: With a $50,000 account minimum, Vanguard charges around 0.30% annually for its hybrid service emphasizing retirement planning. Clients pair with CFP®s for personalized investment strategies.
• Schwab Intelligent Portfolios Preferred: Schwab has no commissions and charges no fees to open an account. In addition to automated portfolio management, clients receive unlimited access to CFP® professionals.
• Betterment Premium: Betterment Premium has a $100,000 investment minimum and charges 0.65% in annual management fees. Clients can connect with human advisors for help with more complex financial decisions while their investments have automatically management.

How to Evaluate an Online Financial Advisor

Finding financial advice online is easier than ever, but not every advisor or platform operates the same way. Before sharing personal financial information or depositing money, it helps to know how to verify who you’re working with.

Registration

There are several ways to check a financial advisor’s credentials.

• Any advisor offering investment advice should register with the SEC or their state securities regulator. You can check registration status, disciplinary history and compensation disclosures, through the Investment Adviser Public Disclosure (IAPD) database at adviserinfo.sec.gov.
• For brokers and registered representatives, FINRA’s BrokerCheck tool at brokercheck.finra.org provides similar information, including complaints and regulatory actions.
• If an advisor holds the CFP® designation, the CFP Board’s website at cfp.net lets you verify their certification and review any disciplinary history. These searches are free and take a few minutes.

Fiduciary Duty

It’s also worth understanding the legal standard your advisor operates under.

An advisor with a fiduciary duty must act in your best interest. A broker or registered representative may operate under a different standard, where recommendations must be suitable or in the client’s best interest under FINRA’s Regulation Best Interest.

However, this is not necessarily the best available option. Registered investment advisers (RIAs) are held to the fiduciary standard.

The distinction isn’t always clear online, so checking the advisor’s Form ADV through the IAPD database or asking directly is a reasonable step.

Compensation

How much a financial advisor costs is another factor to consider.

Some advisors charge hourly or flat fees, while others may charge a percentage of assets or nothing at all. Others may earn commissions on the investments or insurance products they sell, or they may use a combination of fees and commissions.

Understanding how your advisor’s payment structure will help you assess whether a recommendation depends on your situation or how the advisor earns revenue.

Platform Disclosures

Robo-advisors are regulated, too, but transparency varies across platforms.

The algorithms behind portfolio decisions aren’t always fully explained, and the amount of human involvement differs. Reading the platform’s fee disclosures and Form ADV before funding an account is just as important as it would be with a human advisor.

It’s also worth confirming whether the platform carries SIPC coverage, which protects against broker-dealer failure but not investment losses.

Warning Signs to Avoid

A few warning signs are worth keeping in mind.

• Promises of guaranteed returns
• Pressure to transfer money quickly
• Reluctance to discuss fees
• Difficulty confirming registration through public databases

A trustworthy advisor should be willing to explain their credentials, their fee structure and how they make investment decisions.

If that information is hard to come by, there are plenty of other options available.

Bottom Line

With many options for financial advice available online, there is a solution for nearly every type of investor. Whether you prefer the low-cost automation of robo-advisors, the personalized guidance of traditional advisors or the flexibility of hybrid services, online platforms offer convenient ways to access professional financial advice. Understanding the different models can help you choose an option that aligns with your financial situation and preferences.

Investment Planning Tips

• A financial advisor can help you analyze investments for your portfolio. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
• Whether you go long or short, you can use SmartAsset’s investment calculator to find out how your nest egg will grow over time.

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