Finding a good financial adviser can be difficult. This person should care about you and your money. Since you are putting your trust and your money in this person’s hands, the less you have to worry about, the better.
Here’s a few tips to help you get started finding the best financial adviser.
*You don’t have to hire the first adviser you meet. This is an interview process, just like hiring someone for a job–pick the best candidate for the job.
*You need to feel comfortable with your financial adviser. If for any reason you or your partner doesn’t feel comfortable with this person, do not hire them.
*A good, well-educated financial adviser should explain things in easy to understand language. If they’ve been in the business for very long they should be able to use laymans terms to help you understand financial terminology.
*Your adviser should be willing to address both partners. Your marriage is a partnership and so are your financial matters. If an adviser doesn’t request both of you for the interview process or doesn’t act like they want to speak to both of you, this should be a red flag.
*You should be comfortable with the investments that he/she is advising you to use. If not, either relay this message or find another adviser.
*A good adviser will call you anytime changes are made to your portfolio. You need to make sure of this up front, so there’s no misunderstandings later.
*Your adviser should explain, in detail, if he/she wants to make a new transaction for your account and all commissions that they receive. Remember, this is your money.
*He/she will never pressure you into making a deal or investing in something you’re not sure of. An adviser that keeps pushing you to make a deal should be replaced, especially if it’s an on-going thing.
*He/she always has broker slips available to you so you can check to see what’s been done with your account–these should match only things you’ve approved.
*Sends out monthly or quarterly summaries of the activity in your account/accounts.
*A good financial adviser, for example try the finance service from www.LeaderFinance.co.uk, does not ask for personal checks to be made out to them. Checks should always be made in the firm’s name that he/she works for—or company name if he’s an independent adviser.
Finding a good financial adviser can be tedious and take awhile. Just make sure you’re comfortable with the person who will be handling your money. Your financial health is in their hands.
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