How to Find the Right Financial Planner When Retirement is Around the Corner

You’ve spent decades working hard, raising a family, building a life. Now retirement is getting closer, and the financial decisions you make in these final five to ten years—about Social Security, Medicare, tax strategies, and how you draw down your savings—can permanently affect how much income you have for the rest of your life. That’s a big deal. The good news? You don’t have to figure it all out alone. The right financial planner can help reduce costly mistakes and create a clearer transition plan. But finding that person takes knowing what questions to ask and what to look for.

Here’s your step-by-step guide to vetting a financial planner when retirement is on the horizon.

Ask the fiduciary question first

This one matters more than you might think. A fiduciary is legally required to act in your best interest, which helps reduce conflicts of interest around commissions and product sales. Not all financial professionals are held to this standard. Some advisors operate under a “suitability” standard, meaning their recommendations need to be appropriate, but not necessarily the best option for you.

Ask directly whether the planner operates as a fiduciary at all times, not just in certain situations or with certain accounts. Then request that commitment in writing. This one step can set the foundation for a more trustworthy advisory relationship as you navigate decisions that will shape your financial future for decades.

Look for credentials that match your needs

Financial planning is a broad field, and not every advisor has deep experience with the specific challenges that come up in the years before retirement. Designations like CFP (Certified Financial Planner) or RICP (Retirement Income Certified Professional) indicate formal training in financial and retirement planning.

These credentials demonstrate education, ethical standards, and ongoing requirements — meaning the advisor has committed to continued learning in the field. But credentials alone aren’t enough. Consider them alongside experience, communication style, and the planner’s approach to retirement-specific issues. Think of credentials as a starting point, not a finish line.

Get clear on how the planner gets paid

One of the most overlooked questions to ask any financial planner is how they are compensated. The answer can reveal a lot about potential conflicts of interest.

Fee-only planners are compensated directly by clients, meaning their income does not depend on selling you a particular product. Fee-based or commission-based advisors may earn compensation from product sales, which can introduce incentives that don’t always align with your goals.

Understanding the fee structure upfront helps you evaluate potential bias and compare total costs across different advisors. Ask for a clear breakdown of all fees, including any charges that might apply to specific transactions or products. Transparency at this stage can prevent surprises later.

Push for a real retirement income and tax strategy

This is where the conversation should go far beyond investment portfolios. Pre-retirement planning should include Social Security timing analysis, required minimum distribution (RMD) planning, tax-efficient withdrawal sequencing, and healthcare cost projections. Each of these elements interacts with the others, and getting any one of them wrong can have lasting financial consequences.

When you begin claiming Social Security benefits, for instance, can affect your monthly income for the rest of your life. RMD planning determines how and when you are required to withdraw funds from tax-deferred retirement accounts. Tax-efficient withdrawal sequencing considers which accounts to tap first — and in what order — to minimize your overall tax burden across retirement.

Ask for examples of how the planner builds income strategies rather than just investment portfolios. A planner who focuses solely on growing assets without addressing how those assets will be converted into reliable income may not be the right fit for this stage of your financial life.

Do your homework on their background

Before entering a long-term advisory relationship, take a few minutes to verify the planner’s professional record. Use tools like FINRA’s BrokerCheck or the SEC’s Investment Adviser Public Disclosure database to review employment history, credentials, and any disciplinary records.

These publicly available databases can help you confirm qualifications and spot red flags like past complaints or regulatory actions. It takes just a few minutes and can offer real peace of mind.

Make sure the relationship feels right

Retirement planning isn’t a one-and-done meeting. Markets change, tax laws evolve, and your personal goals shift. The planner you choose should be someone you’re comfortable working with over an extended period.

Ask how often you’ll meet, how performance is reported, and how adjustments are handled over time. Some planners offer quarterly reviews; others may check in annually or only when triggered by major market events. There’s no single right answer — what matters is that the relationship fits your needs and preferences.

Think about whether you prefer in-person meetings, video calls, or phone conversations. Consider how accessible the planner is between scheduled meetings if questions come up. The quality of the ongoing relationship can be just as valuable as the initial financial plan itself.

Your next step

The best financial planner for pre-retirement combines fiduciary responsibility, relevant credentials, transparent fees, and a clear retirement income strategy. No single factor should drive your decision. Look for alignment across all of these areas. Taking the time to vet someone now can make the transition into retirement more confident and financially secure.

Ready for more inspiration? Subscribe to our YouTube channel for video podcasts, health tips and uplifting stories designed for women 40, 50, 60 and beyond.