Are You Hiring The Right Financial Advisor For You?
Post originally published on Jan Gleisner’s website.
Would you trust someone to advise you on how to handle your money? Many people are quite skeptical of this thought. You have worked diligently to earn every penny that you have to your name, so you want to protect that money at all costs. But have you thought about your financial future?
Financial planning, investing, and saving for retirement are all such complicated territories and can be foreign to those who are not familiar with all they entail. Do what is right for you and your family by taking control of your finances with professional guidance. Trusting someone to counsel you with your finances may seem intimidating, but when you find the right financial advisor for you, you can remove the stress of planning for your future from your own shoulders knowing they have your best interests in mind.
It’s important to do a little research before hiring a financial advisor. From my experience, these 4 questions will provide you with the valuable insight you need before making your decision:
What are their accreditations?
It is important to uncover the level of education your financial advisor has completed, as all as any other credentials they may have received. When you compare these across your other prospects, you can decide what accreditations you are the most comfortable with.
What areas do they specialize in?
Every financial advisor will eventually develop a specialty. Use this information to help you choose which individual is more in line with your situation and what you are looking for. For example, if you have recently started a family, it wouldn’t make much sense for you to see someone whose primary focus is on retirement planning.
Are they a fiduciary?
If your advisor operates as a fiduciary, it means that they are legally obligated to have your best interests in mind, rather than just pointing you in a direction that is “good enough.”
Can they provide you with references?
If you truly want to make sure that you are hiring the right person, you might have to do a little extra work. Get a list of client references from the advisors you speak with and make contact with them. Since they are references given to you by the advisor themselves, they are most likely all going to be positive, but you can at least discuss their experiences and choose the candidate that would be the best fit for you.
You are in control of your money, but with the right advisor, you have the guiding hand you need to help you navigate the complex world of finances. Take your financial future into your own hands and start meeting your goals!
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