Juggling a six-figure salary, stock options, and the tax implications of higher income brackets can make financial planning stressful and risky, which is why many high-earners seek out financial planners.
However, finding the right man or woman for the job can also add to the stress– how do you simply trust someone to handle your wealth with the same care and foresight as you would?
The right financial planner won’t just crunch numbers—they’ll help you make smarter decisions with your money, grow your wealth sustainably, and avoid costly missteps. They’re basically the financial architect that converts your dreams into actionable plans.
Finding the right financial planning partner is harder than it seems.
A glossy LinkedIn profile or long list of credentials doesn’t always translate to personalized, actionable advice. Some advisors are great marketers but lack the depth or experience to deliver concrete and meaningful value.
To get the financial planner you deserve, you need to ask the right questions, understand your own financial needs, and spot red flags before they cost you. This guide will show you how to cut through the noise and find someone who works for you—and not just their bottom line.
What Does a Financial Planner Actually Do?
When someone says “financial planner,” you might picture charts, jargon, and being told to put your money in retirement accounts.
While this is generally true, the same way firefighters can be stereotyped as people who ride in a big red truck, the role is far more dynamic.
For high-earners, a financial planner is like a personal CFO, helping you optimize, protect, and grow your wealth in ways you can’t (or shouldn’t) manage alone.
Think of it this way– you focus on doing what you’re good at to earn as much money as possible; a financial planner is there to help you use the money you’ve earned to make even more money and hedge your risk no matter what life throws your way.
There’s a wide variety of services offered by financial planners, including:
Equity compensation and stock option strategies: They help manage RSUs, ISOs, and other forms of equity compensation, advising when to exercise, sell, or hold stock options to minimize taxes and maximize returns.
Retirement planning: They can advise on the best types of accounts you’ll need to set up today and how to withdraw upon retirement, balancing taxable accounts, tax-deferred accounts, and tax-free options like Roth IRAs to minimize tax bills.
Tax efficiency: They work to ensure you’re not overpaying Uncle Sam, using every strategy at your disposal (like tax-loss harvesting) to reduce your tax obligation as much as legally possible.
Estate planning: They help create and manage the financial structures to protect your assets, reduce estate taxes, and simplify the transfer of wealth.
Investment strategies: They can tailor your portfolio to your risk tolerance and long-term goals while keeping an eye on opportunities like market downturns or rebalancing
Cash Flow and budget management: They analyze your income streams and spending habits to help you balance short-term goals with long-term savings.
That’s just the tip of the iceberg. Other ways include insurance coverage, charitable giving and philanthropy, education planning, debt management and refinancing, business ownership and succession planning, and more.
Ultimately, high-earners need guidance specialized to their unique situations and goals.
For example, the financial planner becomes your translator for the fine print if you’re dealing with equity compensation, stock options, or RSUs– they break down your vesting schedules, tax obligations, and diversification options so you don’t lose money—or sleep.
Imagine you’re a senior developer sitting on $750,000 in RSUs set to vest over the next three years.
You can’t sell the shares until they vest, but there’s plenty to consider right now.
A financial planner will help you strategize around the vesting schedule, tax implications, and how to diversify once the shares become available.
For example, they might calculate how much additional taxable income the RSUs will generate in the years they vest, ensuring you’re prepared for the higher tax bracket. They’ll also help you plan whether to sell some shares as soon as they vest to cover the tax liability or hold onto them longer for potential price appreciation, considering your overall portfolio’s risk exposure.
They’ll make sure that when those shares vest, you’ll have a clear plan and know exactly how to manage the taxes, whether to sell immediately to diversify, or how to hold strategically (and avoid consolidation risks) if the stock aligns with your long-term goals.
Ultimately, a skilled financial planner doesn’t just answer; they show their work. They evaluate tax rates, market trends, and your broader financial picture to craft a personalized plan.
There’s a Lord of the Rings trilogy worth of time we could dedicate to what financial planners do, but let’s re-focus back on how to pick the right one for you.
But first, let’s evaluate what you actually need.
Before Aything, Know What You Need
There’s a saying: don’t ask your barber if you need a haircut.
The answer, ostensibly, will always be yes.
Similarly, anyone and everyone could use a financial planner in some capacity– but you can get much more value from your first meetings by having a general idea of what you want to accomplish.
In other words, chart at least part of your course before hiring someone to steer your financial ship.
Start by understanding what’s driving your financial pain points and what opportunities you’re unsure how to seize. For example:
Are you stuck deciding where to save next, debating between a 401(k), a Roth IRA, or a taxable brokerage account?
Are taxes eroding your bonus, or do you feel lost when trying to optimize your equity compensation?
Maybe you’re feeling like taking a few months or a few years off to find yourself, traveling the world, but don’t want to come home to an empty bank account.
Perhaps you’re wrestling with big-picture questions like how to retire early or leave a financial legacy for your family.
High-earners challenges often come down to balancing ambition with strategy.
Most of these paint points revolve around prioritization (vacation home versus long-term savings), spinning multiple plates and dual income streams (primary salary and rental property income), and being too busy to explore any of the tax savings strategies well within your reach.
These aren’t simple situations. They require a planner who can provide clarity without oversimplifying and, if needed, help you take the best possible action without encumbering your schedule any more than it already is.
Once you’ve identified your pain points, the next step is finding a financial planner whose expertise aligns with your goals.
Finding Who You Need: Picking the Right Financial Planner
Imagine you’re Simone Biles, preparing for the Olympics, or Patrick Mahomes, gearing up for the Super Bowl. You wouldn’t settle for a generic trainer at the local gym; you’d seek out a coach who understands the nuances of your sport and the demands of elite competition.
The same principle applies to your financial planning.
As a high-earner, your financial landscape is complex and unique.
A generic advisor might offer standard solutions, but you need a financial planner who comprehends the intricacies of your financial “sport” and can tailor strategies to your individual needs.
It’s critical they have explicit experience working with people like you. You absolutely don’t want someone saying, “Well I’ve never personally done any Backdoor Roth IRAs, but I’m sure we can figure it out together.”
Look for a planner with a “been there, done that” track record, someone with experience working with high earners who can navigate the nuanced complexities they face.
A planner who insists on doing everything solo—regardless of their skill set—might be letting ego get in the way of your financial success.
The best financial planners also know their limits. They’ll acknowledge where they don’t excel and will often have a network of specialists they can tap into for areas outside their expertise.
As is usually the case, a financial planner’s network tends to reflect the high level of service they provide. This collaborative mindset ensures you get the best possible advice, even if it comes from someone else. For example:
If taxes are your headache, look for someone fluent in Roth IRA conversions and tax-loss harvesting.
A planner with CFA credentials and a strong investment background is ideal for those focused on aggressive portfolio growth.
If legacy and estate planning are your priorities, choose someone with experience in trusts and multigenerational wealth strategies.
Asking the Right Questions
Finding someone who truly understands your unique financial situation means digging deeper into a potential advisor’s methods, experience, and ability to deliver real value.
Here’s how to vet them with smart, targeted questions.
On Investment Philosophy and Strategy
“What’s your process for building a diversified portfolio, and how do you account for market downturns?”
Forces them to explain their risk management and adaptation methodology rather than offering a vague “diversification is important” answer.
“Can you walk me through how you helped a client rebalance their portfolio during a recent market downturn?”
A concrete example reveals how they handle real-life scenarios, not just theoretical strategies.
“How do you incorporate alternative investments into a portfolio?”
For high-earners with access to private equity, real estate, or venture capital opportunities, this question tests their knowledge beyond traditional stock and bond allocations.
Here’s a revised batch of stronger, no-nonsense questions that are harder to sidestep, categorized for clarity. These focus on eliciting specific, actionable insights while leaving less room for generic answers.
On Tax Planning and Optimization
“How do you plan for tax efficiency across multiple income streams, like bonuses, RSUs, and passive income?”
Directly ties their expertise to high-earner realities, requiring them to demonstrate familiarity with complex scenarios.
“Can you show an example of how you’ve minimized a client’s tax liability through a Roth conversion or tax-loss harvesting?”
They’ll need to provide a tangible success story, making it harder to fall back on theory.
“What specific strategies do you recommend for managing the tax burden of equity compensation?”
Sharpens the focus on a high-earner pain point, eliminating the possibility of generic advice.
“How do you approach optimizing long-term tax savings for retirement withdrawals?”
Tests their knowledge of sequencing withdrawals across taxable, tax-deferred, and tax-free accounts.
On Experience and Expertise
“What’s the largest equity compensation package you’ve managed, and how did you handle it?”
Challenges them to provide evidence of direct experience with high-stakes scenarios.
“Can you describe how you’ve managed estate planning for a client with significant generational wealth?”
If estate planning is a priority, this reveals if they’ve handled complex trusts or multi-generational strategies.
“What’s a mistake you’ve seen clients make before working with you, and how did you correct it?”
A compelling way to gauge their problem-solving skills and ability to add value.
“Have you worked with clients in *(specific industry, like tech or healthcare) before? If so, what unique strategies have you applied for them?”
Ensures they have experience in your niche and understand its financial nuances.
On Cost and Value
“How do you measure the return on investment for your clients beyond portfolio performance?”
Shifts the conversation to qualitative and quantitative benefits like tax savings, better cash flow, or improved peace of mind.
“Can you provide an example of how you’ve helped a client save more in taxes than they’ve spent on your fees?”
Directly ties their cost to delivered value—hard to sidestep without evidence.
“What’s your fee structure, and what potential conflicts of interest should I be aware of?
Ask them to acknowledge and explain any inherent biases in their compensation.
“How have you adjusted your fee structure to reflect changes in a client’s needs or portfolio size over time?”
Tests their flexibility and transparency in aligning fees with the scope of their services.
On Compatibility and Communication
“How often will we meet, and how will you track progress on my goals between meetings?”
Forces them to define their cadence and accountability measures, showing how proactive they are.
“Can you describe a situation where you worked with a client’s CPA or attorney to create a financial plan?”
Tests their ability to collaborate with other professionals, which is critical for complex situations.
What happens if my financial goals or situation drastically change? How do you pivot?”
Assesses their adaptability in the face of significant life or market changes.
Also, remember that the best financial planners don’t just answer questions; they ask them, probing into your income streams, equity compensation, tax situation, and big-picture aspirations.
If they aren’t exploring the details or can’t provide specific, actionable insights, that’s a red flag. Your financial life is complex, and you deserve someone who embraces it and turns it into a clear plan tailored to you.
Making Sense of Finding the Right Financial Planner
The right planner isn’t just an expense; it’s supposed to be an investment in your peace of mind and financial future.
A skilled planner can help you translate goals and dreams into clear action, designing strategies that anticipate both best and worst-case scenarios. Importantly, they set the pace for your financial review activity, helping keep you accountable to your mission.
Ultimately, the right financial planner is more than an advisor—they’re a partner who helps you make smarter decisions, reduce stress, and free up your energy for what really matters.