6 Factors To Consider When Searching For A Financial Advisor

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Are you thinking of hiring a financial advisor? Below are 6 important things to look at to ensure that you are hiring only the best:

  1. Services

Different financial advisors offer different services. Some of them can be a great help with financial planning but not investment management. Others can be very useful when it comes to retirement income planning but not so much with other aspects of financial services. If there is a specific type of service that you are looking for, make sure to center your search for a financial advisor around it to find only those that can deliver.

  1. Credentials

A financial advisor who has collected various credentials throughout their career is preferable to someone who has none. Make sure that they have come from reputable bodies and not from unknown sources. The best kinds of financial advisors are those that possess reputable credentials, such as a Chartered Financial Analyst or CFA, Certified Financial Planner or CFP, or Personal Financial Specialist or PFS certificate. To obtain these credentials, financial advisors need to take and pass an exam that shows their knowledge and proficiency in the field.

  1. Location

Nowadays, doing work or school entirely online has become more common. This applies to financial-related services, too. Because of how accessible the internet has become for everyone these days, you can hire a financial advisor from hundreds or thousands of miles away and discuss business without needing to be in the same room. However, if you prefer to do face-to-face meetings, you should start your search for a financial advisor in your area. For example, if you are in Glenview, you can look up “financial planning Glenview” or “financial advisor Glenview” to get financial planning Glenview companies or financial advisor Glenview listings you can consider.

  1. Experience

During your search for a financial advisor, you should take a look at their experience in the field. Go to their website, social media accounts, or online business profiles and check what their work history and experience look like. Take note of their past projects, previous employers, and so on. Find the answers to various important questions like

1) How long have they been working as a financial advisor?

2) What kinds of qualifications do they possess?

3) What services do they offer?

4) What is their investment philosophy?

Find out as much as you can about them so that making a decision about whether to hire them or not becomes less difficult.

  1. Complaints

To not waste your time, effort, and money, you should hire someone who is 100% legitimate and possesses a good and clean service record. When doing a background check of the financial advisors on your shortlist, you can get in touch with the Securities and Exchange Commission or SEC or the Financial Industry Regulatory Authority or FINRA. Through these organizations, you can verify their credentials and get access to their complaint history.

  1. Fees

Financial advisors charge in different ways. Some ask for an hourly fee. Others charge an asset-based fee. There are also those that take part in commissions. From the start, talk to your financial advisor about this to avoid confusion and misunderstandings.


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