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Does My Financial Advisor Need to be Local? Thumbnail

Does My Financial Advisor Need to be Local?

Choosing your financial advisor is based on your needs, goals, and comfort levels, aligned with the advisor’s expertise. So, the answer to the question is no. Remember this is a joint relationship that involves your input to the advisor. An experienced financial advisor will listen first and help address your concerns in creating the life you want to live.

Thanks to technology, tech-savvy consumers have an option of working with a remote or local financial advisor. Interactions include face-to-face meetings via video conferencing, regular follow-up calls and email communications. 

Your first physical meeting or virtual communication is typically designed to discuss your current situation and your future goals. The purpose is to develop a plan and build an investment portfolio based on your goals. We recommend looking for a Registered Life Planner® that will take you through the EVOKE process, whether virtual or local a RLP® will make you feel heard. Once the getting-to-know-you sessions (preliminaries) are completed, customary communications and annual meetings are essential.

For many clients, the lack of understanding or the uncertainty of the markets is daunting. An experienced financial advisor is going to help organize your finances for maximum benefit throughout your life and sometimes beyond. 

In many ways COVID-19 has taught all of us how to live in a virtual world. Healthcare providers have embraced telemedicine as a way to see patients without risk of exposure to the novel coronavirus. While similar, we believe telemedicine isn't an apples to apples comparison to virtual advisors. Sometimes you just need to see a patient's symptoms first hand to really form a treatment plan and that just isn't the case with financial advisors.

Planning Today for Tomorrow

Whether you choose to work with a local or remote advisor – an assessment of your personal and financial needs are critical to developing a financial plan. If you prefer traditional face to face visits, working with a local advisor is best. If you’re comfortable with mobility and have a set perception of the chosen advisor’s characteristics, expertise, and skill to achieve your financial goals - geographic distances will disappear.

Remember, you may not always be inside of your local area. At some point, you will need to use technology to communicate with your advisor. So why wait? From the advisor’s perspective, sound business practices are rooted in establishing long-term relationships built on long or short distance trust.

Life is unpredictable, and a financial advisor can help manage the economic changes by lessening the financial challenges. The key is establishing a reliable partner that understands what is important to you.

Evolving Times

When you’re looking for a financial advisor, you may need to look beyond your local neighborhood. Advisors have been actively working with local and distant clients for years – regarded financial experts generally have clients scattered throughout the states, sometimes internationally. It’s essential to select the expert capable of walking you through the hurdles to keep your dreams on track no matter what life throws at you. 

In some cases, the client’s location may limit the selection of local financial advisors, making it necessary to work with a remote advisor. You may change residences or careers relocating to another city and find that working with an advisor remotely, works for your lifestyle. Look for one with the skill and knowledge to work with your situation and help guide you through the phases of life.

The point is finding a good match for your life’s financial planning – location may be a secondary consideration. As a standard protocol, the client and the advisor establish communication methods and schedules.  

Due Diligence

Before you choose a financial advisor, do your homework. Ask for references, talk with the current clients, and check out the governing financial agencies – you’re looking for disciplinary history. Find out if they work in a "fiduciary" capacity because suitable recommendations are not the same as best interests recommendations.

All financial advisors within the U.S. operate according to the law governed by standards and regulatory guidelines. Don’t be afraid or intimidated to ask the advisor about the information you find. 


The principle value is awareness – client needs change – markets shift. The right financial advisor will determine the amount of risk you can afford and navigate you through the events that impact your future. Plan for the unexpected, discuss the past year’s activities and make the necessary changes as you move forward. Don't do it alone – find an experienced and practiced professional - local or distant.

 Storybook Financial is a financial planning firm determined to help those that believe in the betterment of the world around them. As a fiduciary, our service promotes unbiased financial planning with an emphasis on young medical professionals and their families. We are constantly pushing for new ways to give back to the Cystic Fibrosis community. We are based out of Iowa City | Coralville Iowa, but we serve clients nationwide with our robust virtual presence. This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.