Financial Planning

Looking for a Financial Advisor for Caregivers?

By  Brian Thorp

Disclaimer: To make Wealthtender free for our readers, we earn money from advertisers, including financial professionals and firms that pay to be featured. This creates a natural conflict of interest when we favor their promotion over others. Wealthtender is not a client of these financial services providers. Learn how we operate with integrity to earn your trust.

Find financial advisors for caregivers ready to help with your financial planning needs so you can enjoy life with less money stress.

Are you among the many Americans taking care of an elderly parent or expecting to become a caregiver for an older family member or significant other? More than 30 million Americans have provided unpaid care to an adult age 50 or older in the last 12 months, according to the Family Caregiver Alliance.

As a family caregiver, you may be thinking about hiring a financial advisor who understands the unique financial planning challenges faced by people tasked with caring for family members. Fortunately, a number of financial advisors specialize in serving clients with caregiving responsibilities.

Before hiring a financial advisor, it’s important first to consider your own financial planning priorities. In this guide, we’ll share a few quick tips to help you get started in your search and introduce you to financial advisors for caregivers featured on Wealthtender you may want to add to your shortlist.

How Much Does a Financial Advisor Cost?

➡️ How Much Does a Financial Advisor Cost? Read the Article

Smart Tips for Finding a Financial Advisor

Before hiring a financial advisor, here are a few quick tips to help you find the best advisor for you.

1. Decide Which Services You Need

Before hiring an advisor, determine what services you need from them. Whether it’s full-service investment management or a plan focused on a specific area of your finances, put together a list of what you’d like help with before contacting an advisor.

Though most people use a financial planner simply to invest for retirement, this is only a small part of what many advisors offer. Here’s a quick rundown of potential services a financial advisor may offer you:

  • Budgeting and money management
  • Debt management
  • Insurance planning
  • Retirement planning
  • Other investment planning
  • Inheritance planning
  • Estate planning
  • Tax planning

As you can see, financial advisors can help you with your entire financial picture, not just investing. As you start to plan for life’s bigger milestones, you should consider finding a financial advisor that specializes in those areas.

Finding the right advisor can help you minimize risk, maximize gains and take advantage of tax breaks while investing for your future. They can also help you protect your assets with the right kinds of insurance and help you pass on your financial legacy with a proper estate plan.

2. Consider Your Budget and Payment Preferences

Once you have a list of services you would like, review the fee structures financial advisors offer. Finding a balance between the services you need and the cost of those services will help narrow down the field of advisors you may want to work with.

If you are looking for a full-service advisor to manage all of your investments, consider searching among fee-based financial advisors. If you want to manage your money yourself, consider the flat fee and monthly subscription advisors for ongoing support.

3. Interview Multiple Financial Advisors

Once you have chosen the services and fee structure you prefer, it’s time to contact a few advisors and interview them. Here are questions to ask financial advisors:

  • What services do you provide?
  • What are all the ways you get paid? (fee transparency)
  • What is your investment strategy?
  • How do you measure investment performance?
  • How do we communicate about my plan?

Interview multiple advisors to get a feel for who you want to work with. A combination of fees, services, and customer service will help you determine the best fit for your financial advice.

4. Review Financial Advisor Credentials

Once you find an advisor (or two) you feel comfortable with, it’s always a good practice to check their credentials and the firm’s details. You can do this at the Investment Adviser Public Disclosure (IAPD) website

You can check both the individual and the firm to view their background and experience details, as well as any disciplinary action taken against them or their firm.

As licensed financial professionals, there is oversight into how financial advisors conduct business, so running a quick (free) check on them is recommended.

For additional information about advisor credentials, read our article to learn the most popular designations held by financial advisors, as well as specialized credentials which may be important to consider if you have unique financial planning needs.

Get to Know Financial Advisors for Caregivers

📍 Click on a pin in the map view below for a preview of financial advisors for caregivers who can help you reach your money goals with a personalized plan. Or choose the grid view to search our directory of financial advisors with additional filtering options.


📍Double-click or pinch pins to view more.

🙋‍♀️ Have Questions About Financial Planning for Caregivers?

Caregiver Questions Answered

Q: How can I find the time in my schedule to deliver the quality of care I hope to provide?

Being a caregiver involves the giving of your time, which can be difficult if time is already short. But that’s where a little planning and organizing can help.

Put together a schedule that carves out the hours you’ll devote to caregiving tasks. Since interruptions are bound to occur, leave room in the schedule to accommodate for unexpected changes and duties. By organizing your days in a constructive and realistic way, you can avoid conflicts that disrupt your routine, hinder your caregiving responsibilities, and cause stress. Plus, the time spent caregiving will be more efficient.  

Q: How can I avoid feeling burned out as a caregiver?

Caregiving can make you forget about yourself if you let it. Be sure to take breaks and allow space to devote to your needs.

Tend to your physical, mental, and spiritual health by getting exercise, eating nutritious foods, de-stressing through relaxation techniques, and participating in activities that make you feel good. You’ll be a better caregiver when you’re rested and refreshed.

Know your limits, too, and recognize exhaustion and burnout for what they are. If caregiving starts to take a toll on your well-being, it may be time to relinquish duties to other family members, friends, or a professional caregiver.

Q: I’m worried Medicare won’t cover many of the caregiving expenses I encounter. Are there other resources I might consider?

Some people are forced to use up all their retirement savings and sell their assets to pay for their long-term care. And with the average cost of nursing home care in the U.S. coming in at an astonishing $7,441 per month for a semi-private room, it doesn’t take long for some people to exhaust their retirement savings.

This is where PACE is a godsend for some people. PACE stands for Program of All-Inclusive Care for the Elderly. It’s a U.S. government program that helps frail seniors age in place in their own homes as opposed to having to go to an expensive nursing home to receive their care. PACE is a Medicaid and Medicare program. Read this article on Wealthtender to learn more.

Frequently Asked Questions & Additional Resources

How do I know if I’m ready to hire a financial advisor?

You should strongly consider hiring a financial advisor if you have a significant amount of money available for saving or investing. This could occur after years of making annual contributions to a retirement plan like a 401(k) through your employer or suddenly if you receive a large inheritance or sell your house for a large profit.

But even if you don’t have a lot of money saved, many financial advisors and planners provide reasonable pricing options and valuable services you should consider, especially if you’re facing a significant life event. For example, if you’re starting a new job, getting married, starting a family, getting divorced, lost your job, starting or selling a business, or approaching retirement age, working with a trusted financial advisor or planner may prove worthwhile.

Before I hire a new financial advisor, should I fire my current advisor?

You don’t need to fire your current advisor before beginning your search for a new financial advisor. In fact, your new advisor can help coordinate the transition of your assets from your previous financial advisor.

Where can I read reviews about financial advisors written by their clients to help me decide if I should hire them?

After 60 years of regulatory prohibition of financial advisor reviews in the US, a rule issued by the Securities and Exchange Commission (SEC) became effective on May 4, 2021 that means both financial advisors and directory websites that help consumers search for a financial advisor can collect and display financial advisor reviews, an important factor worth considering when choosing who you’ll hire to manage your investments and life savings. 

Wealthtender is the first independent advisor review platform designed to be fully compliant with the new SEC rule, and we look forward to helping you evaluate financial advisors based on reviews written by their clients.

I’m a financial advisor interested in being featured in this guide. How do I get started?

Thanks for your interest. We look forward to learning more about your practice and helping you attract your ideal clients where you may be a good fit based on their individual needs and circumstances. Please click here to learn how you can join local financial advisors featured on Wealthtender.

About the Author
A headshot of Brian Thorp, the founder and CEO of Wealthtender

About the Author

Brian Thorp

Brian is CEO and founder of Wealthtender. He and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.

With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.

Connect with Brian on LinkedIn

Disclaimer: To make Wealthtender free for our readers, we earn money from advertisers, including financial professionals and firms that pay to be featured. This creates a natural conflict of interest when we favor their promotion over others. Wealthtender is not a client of these financial services providers. Learn how we operate with integrity to earn your trust.