How to Find an Advisor Using Lasso

Did you know that, on average, people who work with financial advisors can get returns that are about 3% better than those who go it alone – even after accounting for the advisor’s fees and expenses? 

While 3% might not sound huge in theory, if you have $1 million in assets, that’s an extra $30,000 per year. That’s no small potatoes.

Financial advisors are experts in helping you reach your money goals, and as fiduciaries are legally bound to act in your best interest. With all these points in mind, it seems obvious: a financial advisor could make a huge difference for your financial future. 

But what makes a good advisor? And how can you begin your search? We’re walking you through five simple steps you can take to find a financial advisor using the Lasso app.

Who Needs a Financial Advisor?

Many people think that financial advisors are reserved for the ultra-wealthy – but that’s not actually the case! In reality, nearly anyone can benefit from working with a financial professional, especially if you finally feel like you’re settling into your career and making “good money.”

Even though working with an advisor has a price tag, their value goes beyond mere investments. Advisors can help you create goals, choose suitable investment strategies and save time.

A financial advisor also has the experience of working through market fluctuations. While they can’t predict when or if you’ll recoup your funds, they can help you maintain perspective and stay focused on your goals. Sounds pretty great, right?

That’s why we built Lasso – the first-of-its-kind app created to help investors connect with advisors anonymously (and for free), making it much easier to find an advisor who is ready to work with you.

How to Find an Advisor Using Lasso

Finding a financial advisor can feel daunting. Do they need to be local? How can you know an advisor prioritizes the same values as you? Will introductory meetings cost big bucks?

Lasso takes the guesswork out of all these questions. In just five simple steps, you can create a financial plan and connect with an advisor with confidence.

1. Download the app

The first step to finding your financial advisor is to download the app. 

The Lasso app is completely free for investors (and always will be!) – you simply download it from the Apple App Store and create your unique profile. 

Related: How to Use Lasso to Reach Your Financial Goals

2. Build a plan based on your goals

Once in the app, you’ll click “New Plan” to get started. Lasso lets you choose one of five saving goals: retirement, house, education, emergency fund  as well as a create your own option (such as paying off your debt).

Then you’ll define your plan in five areas by answering five simple questions:

  • Goal: How much do you want to save?
  • Time: When do you want to save it by?
  • Savings: How much do you have now?
  • Contributions: How much can you save every year?
  • Portfolio: How much risk are you comfortable taking?

After you’ve answered those five questions, Lasso will show you your plan. 

Check out our own Becca Long walking you through how to build a plan:

3. Explore your options by varying your inputs

Here’s where another of Lasso’s unique features comes into play: If you’re not on track to hit your goals, you can play around with your inputs to see how they would impact your plan. 

Want to know what it would take to reach your goal in five years rather than ten? What would change if you could contribute a little more each year than you originally planned? Lasso allows you to explore all your options. 

Once you’re happy with your plan, click “Finish Plan.”

4. Browse advisors (anonymously) and share your plan

Here’s the really fun part – you now get to browse Lasso’s growing list of available advisors. 

When you choose to send your plan to an advisor, you’ll stay completely anonymous. They won’t receive any of your information except your plan inputs, so you don’t have to worry about getting a million phone calls. The goal here is to see their ideas of how they could improve your plan without having to sign up for or pay anything.

You can share your plan with an advisor you already know, or browse the Lasso community for an advisor who matches your style. Filter them by gender, experience, location and specialty to make sure you find an advisor you’re comfortable with. 

Another big bonus? There is no limit to the number of advisors you can send your plan to at a time. See 15 advisors that could be a good match? Send away.

Here’s Becca again showing you how to share your plan:

5. Review your proposals and connect with the advisor of your choice

After you share your plan, you wait for the advisors to respond with their proposal, crafted just for you.

Proposals will show how the financial advisor would improve your plan if you worked with them. When you get back proposals, you can decide whether or not there is a conversation worth pursuing, at which point you and the advisor can continue the conversation outside of the app.

One more time, let’s bring Becca back with what to look for when you get proposals from advisors:

In just five simple steps, you’ve outlined your goals, anonymously connected with advisors and discovered exactly how those advisors could benefit your financial plans. That’s the power of Lasso.

Find an Advisor with Lasso

Advisors can help you make the most of your money. Click here to download Lasso today and start browsing advisors. 


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