Sasha Jacob — 4 Signs of a Trustworthy Financial Advisor
Not all of us have enough knowledge and experience when it comes to financial management, which is probably the reason why financial advisors exist. They have been regarded as saviors for some companies and individuals who were on the verge of bankruptcy.
Financial advisors help their clients with things like investing and planning for the future. But those reasons alone don’t convince everyone. According to recent studies, there has been a significant increase in people using a financial advisor. However, more than 50% still don’t believe that there are enough laws that protect them from illegal practices.
Sasha Jacob, a renowned financial advisor and the CEO of Jacob Capital Management Inc., says there are chances that you might fall victim to these illegal practices. However, there are ways to getting yourself away from these situations. To make sure that you’re not wasting your time and money on a fraudulent, keep an eye out for the right financial advisors.
Sasha Jacob on signs of a financial advisor you can trust
1. Your advisor educates you.
Commonly, shams like to throw in words you’re not able to understand it so they’ll quickly come across as experts. And although they may know more than you do, that doesn’t mean you can trust them immediately.
A good financial advisor will walk you through everything you need to know. From the fees you need to pay, your options, and what is in store for each one. This means he uses simpler terms so you can grasp every information.
2. You will be presented with the risks.
A good advisor will be upfront with the risk. Most investments come with risks and as a consumer, you need to be fully informed about them. Anyone who tries to hide the risk is in it for himself. Sasha Jacob on Facebook suggests to look for an honest advisor that’s not only telling you the risk but will give specific details regarding what you’ll be gaining and losing.
3. He/She keeps tracks of your progress.
When you work with a financial advisor, you’ll also need to keep a portfolio. It keeps track of your investment and it needs to be regularly reviewed. Look for an advisor who will willingly invite you so you can discuss your investment, review the performance, and open up concerns if there are any.
4. He knows your goals and will help you reach it.
When it comes to financial advising, you should expect the advisor to create a specific plan for you. There’s no one-size-fits-all approach to investing. A good financial advisor knows your goals and will create a financial plan that works. He takes into account your current financial situation, your income, your debts if there are any, and your lifestyle. He should also help you in making the process easier. Since you’ll likely need to adjust and make a couple of adjustments in your routine, he’ll ensure that you stay on track.
When you find yourself in need of a financial advisor, keep in mind that hiring one is not as simple as hiring a babysitter or a plumber. Since you’ll be dealing with your finances probably as long as you live, it is crucial to find an advisor that’s willing to guide you as you age.
According to Sasha Jacob Capital Management Inc, an advisor can be considered a lifetime partner. Building a professional yet genuine relationship with them is important. Through this, you’re able to trust them and make positive financial choices. Whether it’s facing a crisis or planning to make a significant investment, your financial advisor should guide you through life-changing events.
