Hiring a Financial Advisor
When hiring a financial advisor you don't want to simply hire
someone who looks like they know what they are doing, but rather
a financial advisor that knows what they are doing and has
proof. You will need to ask your potential financial advisor
several questions in order to get a real feel of whether this
financial advisor is skilled or has no clue how to advise you on
money matters. You will be able to find a financial advisor who
is going to really help you with your finances by simply asking
the following questions.
First of all, you want to ask the potential financial advisor
what kind of education he/she has. This is important because a
quality financial planner will have educating supporting this
field of work, as well as credentials, continuing education
certificates and the like. You will also want to ask what kind
of experience the individual has as a financial advisor and how
long the individual has been working as a financial advisor.
This information will enlighten you as to the type of financial
planner you are considering hiring.
Another question that should be offered to the potential
financial advisor is how they receive payment. Does this
particular financial advisor charge an hourly rate, work only on
commission, or have some other fee schedule? You will need to
know up front how the financial planner plans on billing you
before you agree to let them advise you on your finances.
Asking the financial advisor for referrals, especially past
clients, is a great way to know if the financial advisor is for
real and has been successful with other clients. If the
financial advisor does not have any referrals, you might be
skeptical about this particular financial advisor.
Finally, ask the financial advisor to give you an outline of
what will be covered and how he/she can help you reach your
financial goals. An experienced financial advisor will be able
to tell you several topics he/she will want to cover with you.