How to Find Best Financial Advisor

AboutFinding a financial advisor that you can really trust can be an enduring process to say the least. You want someone who you can depend on and know that they’re not there to gouge your wallet and reap commissions and MER’s off you, but that they’re there to support you in growing your wealth and be accountable for a sagging and lack luster portfolio, if any.

Don’t choose a friend or relative

if things go sour, or you want out, you may feel obliged to stick it out with them just out of Guilt. Not taking action because of guilt= bad thing.

Know what type of financial advisor

Certain financial advisors make money from commissions when they sell you a mutual fund, and other financial advisors charge a fee for service.

Make sure you feel comfortable with them

and can trust them

meet them in person a few times before you hand over your money for them to invest with

Make sure they understand

your short term, medium term and long range goals and help you with them (e.g. that they don’t encourage you to lock your money in an investment for five years when you know you might be needing to withdraw the money soon for a down payment).

Experience

Ask for a brief description of the financial planner’s work experience and how it relates to their current practice. professionals must have a minimum of three years planning experience

Financial Planning Services

Credentials, licenses and areas of expertise are all factors that determine the services a financial planner can offer. Generally, financial planners cannot sell insurance, or securities products such as mutual funds or stocks, without proper licenses.

Approach To Financial Planning

Make sure the planner's investing philosophy isn't too cautious or overly aggressive for your needs. Learn how he will carry out recommendations or refer tasks to others.