Working with Financial Professionals
When to Ask for Help: Working With Financial Professionals
For most of her life, Felicia handled her own money. She paid her bills on time. She saved a little each month. She didn’t need help from anyone.
Then her husband, Harold, passed away. Suddenly, Felicia had to manage everything on her own—his accounts, the insurance, the taxes. She didn’t know where to start.
“I felt overwhelmed,” Felicia said. “I didn’t even know what questions to ask.”
A friend suggested she talk to a financial advisor. At first, Felicia wasn’t sure. She thought those services were only for wealthy people. But she learned that help is available for everyone—and some of it is even free.
When Might You Need Help?
Most people can manage their money on their own. But certain life events can make things more complicated. Here are some times when it might be smart to ask for help:
A spouse or partner dies, and you're managing money alone for the first time
You inherit money or property and aren’t sure what to do with it
You're worried about running out of savings
You have questions about Social Security, Medicare, or taxes
You're dealing with debt and don't know how to pay it off
You want to make sure your family is taken care of after you're gone¹
There’s no shame in asking for help. In fact, it’s a sign of wisdom.
What Kind of Help Is Out There?
Financial advisors help you plan for the future — how to make your money last, where to invest, and how to reach your goals.²
Certified Public Accountants (CPAs) are tax experts. They can help with tax returns, planning, and savings strategies.³
Elder law attorneys help with legal issues like wills, trusts, powers of attorney, or Medicaid planning.⁴
Credit counselors help people struggling with debt. They can help build a budget and create a debt repayment plan.⁵
How Do You Know Who to Trust?
Sadly, some people take advantage of seniors — so it’s important to do your homework.
Start with one key question:
“Are you a fiduciary?”
A fiduciary is required by law to act in your best interest.⁶
Not all advisors have to do this — some only have to offer advice that is “suitable,” which may not be the best choice for you.⁷
Other green flags:
Advisors who are fee-only (paid only by you, not by selling products)⁸
Advisors who clearly explain how they get paid
Advisors who specialize in working with older adults
What Credentials Should You Look For?
Anyone can call themselves a “financial advisor,” but certain credentials show real expertise:
CFP® (Certified Financial Planner) — broad financial training and a strict code of ethics
CPA (Certified Public Accountant) — licensed tax experts
RIA (Registered Investment Adviser) — advisors legally required to act as fiduciaries³
You can check someone’s background using:
FINRA BrokerCheck – www.finra.org/brokercheck⁹
SEC Investment Adviser Public Disclosure – www.adviserinfo.sec.gov⁹
CFP Board – www.cfp.net⁹
What Questions Should You Ask?
Before hiring anyone, ask:
Are you a fiduciary?
How do you get paid?
What services do you offer?
What experience do you have working with seniors?
What credentials do you have?
Can you provide references?¹⁰
Trust your instincts — if something feels off, walk away.
What If You Can’t Afford to Pay?
Good news: free and low-cost help exists.
VITA – Free IRS tax help for people with low to moderate incomes, seniors, and people with disabilities.¹¹
AARP Tax-Aide – Free tax prep for people 50+, no membership required.¹²
Nonprofit credit counseling – Free or low-cost help for budgeting and debt (NFCC: www.nfcc.org).⁵
Your local Office for the Aging – Free benefits counselors, legal help, and community resources.¹³
Felicia’s Story Continues
Felicia met with a few different advisors before she found one she trusted. She asked whether she was a fiduciary, checked her credentials online, and felt comfortable talking with her.
The advisor helped Felicia sort through Harold’s accounts and understand what she needed to do next. She also suggested Felicia meet with an elder law attorney to update her will.
“I was scared at first,” Felicia said. “But now I feel like I have a team behind me. I don’t have to handle everything alone.”
Where to Get Help
FINRA BrokerCheck – www.finra.org/brokercheck
NAPFA – Find fee-only fiduciary advisors (www.napfa.org)⁸
AARP Tax-Aide – www.aarp.org/money/taxes/aarp-taxaide/ or 1-888-227-7669¹²
IRS VITA Locator – www.irs.gov or 1-800-906-9887¹¹
NFCC – Nonprofit credit counselors (www.nfcc.org)⁵
Local Office for the Aging – aging.ny.gov/local-offices¹³
This article shares general information only. It is not financial or legal advice. Everyone’s situation is different. Talk to a qualified professional about your specific needs.
References
Trust & Will. "Fiduciary Financial Advisor: When to Seek Financial Advice." https://trustandwill.com/learn/fiduciary-financial-advisor/
Fidelity. "How to Find and Choose a Financial Advisor." https://www.fidelity.com/learning-center/smart-money/how-to-find-a-financial-advisor
Vanguard. "How to Choose a Financial Advisor." https://investor.vanguard.com/investor-resources-education/article/how-to-choose-a-financial-advisor
OurParents. "5 Tips to Find a Financial Advisor for Seniors." https://www.ourparents.com/finances-legal/tips-to-find-a-financial-advisor-for-seniors
National Foundation for Credit Counseling. https://www.nfcc.org/
CNBC. "Asking One Key Question Can Help You Know Who to Trust with Financial Advice." https://www.cnbc.com/2025/09/24/fiduciary-standard-helps-you-to-know-who-to-trust-with-money-advice.html
Trust & Will. "Fiduciary vs Financial Advisor: What Is the Difference?" https://trustandwill.com/learn/fiduciary-vs-financial-advisor
Kiplinger. "How to Find a Financial Adviser." https://www.kiplinger.com/personal-finance/how-to-find-a-financial-adviser
Vanguard. "How to Choose a Financial Advisor." https://investor.vanguard.com/investor-resources-education/article/how-to-choose-a-financial-advisor
Fiduciary Trust. "Choosing a Wealth Advisor: Key Questions to Ask." https://www.fiduciary-trust.com/insights/choosing-a-wealth-advisor/
IRS. "Free Tax Return Preparation for Qualifying Taxpayers." https://www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers
AARP Foundation Tax-Aide. https://www.aarp.org/money/taxes/aarp-taxaide/
New York State Office for the Aging. "Local Offices." https://aging.ny.gov/local-offices