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4 Practical Tips To Choose The Right Financial Planner

4 Practical Tips To Choose The Right Financial Planner

Financial advisers are known by different titles around the world. They are known as financial advisor, financial consultant or financial planner. Financial advisers have different qualifications, experience and training. Some of the financial advisers have qualified exams in financial planning, whereas some are registered with securities regulator to sell financial instruments and give advice.

So when you are choosing a financial planner for making the right investment. Here are some tips that you need to consider.

Find out your financial goals and requirements

You need to find someone who can work in accordance with your requirements and financial goals. For example, if you need advice on investment, then you need to go for someone who is registered with securities regulator. People who want to take the insurance advice need to go for a financial adviser who has insurance license.

Check qualifications

If you are getting referrals from trusted sources like your family members, office mates or neighbors, it will qualify a certain level, but this is not enough. You need to check your financial adviser’s background and qualification along with experience. Check if they have any credentials. You can also enquire about the number of complaints people have filed against them. You will get this information from professional associations.

Have a word with more than one planner

Do not hesitate to discuss your financial objectives with your financial planner when you are interviewing them. This will help you understand whether they are providing the same services, you require or not.

  • You need to check their specialties, experience and education with certifications.
  • Right now how many clients do they have.
  • For how long they are providing the same services.
  • Find out what kind of investment instruments or services they can sell.
  • Find out their frequency of communication with their clients.
  • How do they charge?

Compare fees

You need to ask your financial adviser how they will be paid. You can also compare their rates with others. Do not forget to take a written letter that is elaborating the specific terms of your agreement. In case there are any changes in compensation, they need to notify you in advance. Take every notice or argument in writing.

If you are completely satisfied by,your financial planner, then ask for the appropriate investment for you. What are the kinds of investments they are recommending you? Do they recommend certain products from a specific company?


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