Question 1

What is a financial advisor, and why do I need one in New Mexico?

Accepted Answer

A financial advisor is a professional who provides financial services (i.e. financial planning, creating investment strategies, wealth management, retirement planning, etc.) to their clients based on their specific circumstances and financial goals. As a New Mexico resident, you may need the help of a financial advisor if you need personalized guidance in achieving your financial objectives or help to make more informed financial decisions. To learn more, explore this guide on  why and when you may need a financial advisor.

Question 2

How can a financial advisor in New Mexico help me with retirement planning?

Accepted Answer

A financial advisor in New Mexico can help you plan for retirement by assessing your current financial situation, determining your retirement goals, and creating a personalized retirement plan. They may consider factors like your desired retirement age, lifestyle expectations, and risk tolerance to determine the savings needed. Advisors can also help select suitable retirement accounts like IRAs, 401(k)s, etc., guide investment decisions, analyze Social Security benefits, and provide the guidance you need for a successful retirement. If you are seeking to learn more about how a financial advisor can help you secure your financial future in retirement, learn more about  why you should hire a retirement advisor.

Question 3

What qualifications should I look for in a financial advisor in New Mexico?

Accepted Answer

When evaluating the qualifications of financial advisors in New Mexico, it is important to look for someone who is licensed and registered with the Securities and Exchange Commission (SEC) or the Financial Industry Regulatory Authority (FINRA). You may also want to consider their educational background, years of experience, and any relevant certifications, such as Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), or Chartered Financial Consultant (ChFC) certification. To further explore the various credentials an advisor can hold, read more about  advisor designations.

Question 4

Are there any specific certifications or credentials that financial advisors in New Mexico should have?

Accepted Answer

Yes, financial advisors in New Mexico should ideally possess certifications or credentials that demonstrate their expertise and credibility. When searching for a financial advisor in New Mexico, it is important to look for advisors who hold relevant certifications, such as Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), Chartered Financial Consultants (ChFC), etc. These designations demonstrate a certain level of expertise and commitment to professional and ethical standards. Additionally, consider their educational background, years of experience, and any specialized training or knowledge in areas that align with your financial goals. To further explore the various qualifications an advisor can hold, read more about  advisor designations.

Question 5

Can a financial advisor in New Mexico provide guidance on local tax strategies and exemptions unique to the state?

Accepted Answer

Yes, a financial advisor in New Mexico can provide guidance on local tax strategies and exemptions unique to the state. New Mexico has its own state tax laws and regulations, including income tax, property tax, and other local taxes. A knowledgeable financial advisor in New Mexico can help individuals and businesses navigate these specific tax requirements, identify potential tax-saving opportunities, and ensure compliance with local tax laws. To learn more, read about  how a financial advisor can help you manage your finances.

Question 6

What services can I expect from a financial advisor in New Mexico?

Accepted Answer

Financial advisors in New Mexico offer a wide range of services, including retirement planning, investment management, estate planning, tax planning, insurance planning, and wealth management. The specific services that an advisor offers may depend on their area of expertise, so it's important to find an advisor whose services align with your needs and goals. You can access detailed information about their services, fees, credentials, and more by clicking on the "View full profile" button of any vetted financial advisor listed on the New Mexico directory. Read on to better understand  how financial advisors can assist you with the various services they provide.

Question 7

How do I compare different financial advisors in New Mexico to make an informed decision?

Accepted Answer

When comparing different financial advisors in New Mexico, it's important to consider their qualifications, credentials, experience, and track record. Look for advisors who are registered with the Securities and Exchange Commission (SEC) or the Financial Industry Regulatory Authority (FINRA). Additionally, consider meeting with multiple advisors to compare their services, fees, and investment strategies to ensure they align with your financial goals. For a streamlined approach, we suggest using  the free financial advisor match tool to find and compare 2-3 vetted advisors in New Mexico, specifically tailored to your financial needs and goals.

Question 8

Are there any online tools or resources available to help me search for financial advisors in New Mexico?

Accepted Answer

Yes, there are several online tools and resources that can assist you in searching for financial advisors in New Mexico. We recommend using the WiserAdvisor online directory for the state of New Mexico to begin your search. Additionally, you may use our free match tool to connect with 2-3 vetted financial advisors matched to your specific financial needs and objectives. Other tools include respected regulatory organizations like the Securities and Exchange Commission (SEC) or the Financial Industry Regulatory Authority (FINRA). You can also use the FINRA BrokerCheck tool to conduct further research on their credentials and perform thorough background checks into an advisor's track record. For further information, you can refer to our guide on  how to use BrokerCheck to evaluate a financial advisors credentials.

Question 9

How do I know if a financial advisor in New Mexico specializes in areas that are relevant to my financial goals?

Accepted Answer

To determine if a financial advisor in New Mexico specializes in areas relevant to your financial goals, it is best practice to review their financial credentials and certifications. Financial advisors listed on our directory for the state of New Mexico specialize in a wide range of services, including retirement planning, investment management, estate planning, tax planning, insurance planning, and wealth management. To identify an advisor's particular area of specialization, simply click the "View full profile" button next to any vetted financial advisor listed in our directory. Here you can access detailed information about an advisor's services, fees, credentials, and more. In the "Advisory Services Provided" section, you will be able to verify the specific services offered by the advisor.

Question 10

Can I read reviews
or testimonials
from other clients
who have worked
with financial
advisors in New
Mexico?

Accepted Answer

Yes, reading reviews or testimonials from other clients who have worked with a financial advisor in New Mexico can be helpful when choosing an advisor best suited for your goals. You may also want to consider your specific financial needs, conduct thorough background checks, look for relevant credentials, and research advisor's fee structures. By following these steps, you can make a more informed choice when selecting a financial advisor who meets your specific needs and demonstrates the necessary credentials and ethical standards. For more information, refer to this guide on   choosing the best financial advisor.

Question 11

What investment strategies do New Mexico-based financial advisors use to hedge against inflation and ensure a stable retirement?

Accepted Answer

New Mexico-based financial advisors may suggest considering inflation-protected/indexed annuities as a potential investment strategy to help hedge against inflation and potentially ensure a more stable retirement. These annuities have the potential to protect and grow your investment in accordance with future inflation rates, potentially providing stable retirement income, reducing the risk of outliving your savings, and offering the possibility of tax deferral advantages during lower tax bracket retirement years. To learn more, read on about the  ten retirement investment strategies you need to know.

Question 12

Are there certified financial advisors in New Mexico who specialize in retirement planning for state-specific pension plans?

Accepted Answer

Yes, there are financial advisors in New Mexico who specialize in retirement planning for state-specific pension plans. These advisors have a deep understanding of the retirement benefits offered by the state and can help you navigate the complex rules and regulations associated with these plans. They can provide guidance on optimizing your pension benefits, and retirement income strategies and coordinating them with other sources of retirement income. However, the WiserAdvisor directory for the state of New Mexico may not include advisors that specialize in providing retirement planning services for state-specific pension plans. In the "Advisory Services Provided" section, you will be able to confirm if retirement planning is among the services an advisor offers.

Question 13

What strategies do financial advisors in New Mexico recommend for retirement planning to ensure a secure future?

Accepted Answer

Financial advisors in New Mexico often recommend several strategies for retirement planning to ensure a secure future. These strategies may include:

- Diversified Investments: Advisors suggest diversifying your investment portfolio to manage risk and maximize returns.

- Regular Contributions: Consistently contribute to retirement accounts, such as 401(k)s or IRAs, to build a substantial retirement nest egg.

- Tax-Efficient Withdrawals: Plan for tax-efficient withdrawals during retirement by understanding the tax implications of different retirement accounts.

- Asset Allocation: Advisors help determine the right mix of assets based on your risk tolerance and retirement goals.

- Long-Term Care Planning: They may recommend long-term care insurance or strategies to address potential health care costs in retirement.

- Social Security Optimization: Advisors can assist in optimizing your Social Security benefits for maximum lifetime income.

To ensure you are making an informed decision to secure your future in retirement, explore  the ten retirement investment strategies you need to know.

Question 14

Can a financial advisor in New Mexico assist with college savings plans or education planning for my children?

Accepted Answer

Yes, a financial advisor in New Mexico can help you with college savings and planning for your children's education. These advisors can analyze your finances, assess your savings goals, and recommend investment strategies. Additionally, they may provide guidance on college savings plans like 529 plans, help navigate financial aid options, and offer insights on the tax implications of education expenses. To learn more about effective ways to plan for your child's education, read on about the  5 common ways parents save for their kid's education.

Question 15

Are there financial advisors in New Mexico who specialize in helping individuals who are retiring without a retirement plan?

Accepted Answer

Yes, there are financial advisors in New Mexico who specialize in helping individuals who are retiring without a retirement plan. These advisors understand the unique challenges faced by individuals in this situation and can provide guidance on creating a financial roadmap for retirement. They may assist in developing strategies to maximize savings, establish a sustainable retirement income, and explore investment options suited for late-stage retirement planning. To gain a deeper understanding of late-life retirement planning read on about  how to plan for retirement if starting late.

Financial Advisor	Experience	AUM	Minimum Assets	Fee Structure
Edelman Financial Engines, LLCEdelman Financial Engines, LLC6565 Americas Parkway NEAlbuquerque, NM 87110	Not Disclosed	$270,770,414,647	Not Specified	Fee-Only
Savant Wealth ManagementSavant Wealth Management2000 Old Pecos TrailSanta Fe, NM 87505	35 Years	$0	Not Specified	Fee-Only


THORNBURG INVESTMENT MANAGEMENT INCSanta Fe, NM	202	750	$41,832,394,631	A percentage of AUM, Performance Based
ULRICH INVESTMENT CONSULTANTSAlbuquerque, NM	26	999	$3,279,256,426	A percentage of AUM, Hourly charges, Fixed fees
REDW WEALTH LLCAlbuquerque, NM	14	1227	$1,004,648,408	A percentage of AUM, Hourly charges, Fixed fees, Other (NEGOTIATED FEES FOR BUNDLED SERVICES)
JOHN MOORE & ASSOCIATES INCAlbuquerque, NM	12	2212	$758,200,188	A percentage of AUM, Fixed fees
WESTWIND CAPITALLas Cruces, NM	7	1945	$715,145,223	A percentage of AUM
SUN MOUNTAIN CAPITAL ADVISORS, LLCSanta Fe, NM	9	11	$599,019,302	A percentage of AUM, Performance Based
ZANETTI FINANCIAL, LLCAlbuquerque, NM	2	938	$404,472,409	A percentage of AUM
HS WEALTH PARTNERSAlbuquerque, NM	5	578	$397,587,843	A percentage of AUM
PORTFOLIO WEALTH ADVISORSAlbuquerque, NM	3	750	$373,189,200	A percentage of AUM, Hourly charges
BETTER MONEY DECISIONSSanta Fe, NM	8	925	$326,787,724	A percentage of AUM, Fixed fees
BCO WEALTH MANAGEMENT, LLCCarlsbad, NM	7	1111	$300,482,599	A percentage of AUM, Fixed fees
LONGVIEW ASSET MANAGEMENT, LLCSanta Fe, NM	6	610	$292,678,145	A percentage of AUM, Hourly charges, Fixed fees
DXD CAPITALAlbuquerque, NM	28	11	$258,923,901	A percentage of AUM, Performance Based
TITAN FUND MANAGEMENT, LLCAlbuquerque, NM	22	3	$229,099,553	A percentage of AUM, Performance Based
SANDIA WEALTH MANAGEMENT, LLCAlbuquerque, NM	3	539	$174,250,000	A percentage of AUM, Hourly charges

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