People often turn to financial advisers for help with their investments and retirement planning. But who is an excellent person to ask? How can you tell whether they have your interests in mind? Fortunately, there is a way to tell. You need to ask the right questions. Read on for tips from Mark Hauser on how to find a trustworthy adviser.
- Ask about the adviser’s experience.
A financial planner, accorsding to Mark Hauser should have industry credentials such as a CFP, CFA, or ChFC. These are considered the benchmark of financial knowledge and professionalism. Advisers who also hold these designations can provide exceptional advice backed by their knowledge and skill in investing, taxes, insurance, and much more. Most importantly, they allow you to feel confident they have your best interests.
- Ask how long he’s been working on your account.
A good adviser will have worked on your account for at least a few months, so you can feel confident the advice is based on the time you’ve spent with him and the discussion.
- Ask about his education and training.
Financial planning is complex, especially if your financial adviser still needs to become experienced. Like any professional, financial planners should have demonstrated their knowledge by earning a degree and gaining experience through relevant courses.
- Ask about their clients.
Financial planners with a history of serving clients with similar wealth and goals are those you should be most comfortable with. Advisers who have worked on many people’s money over the years have experience and knowledge that will help them to be able to understand your goals and your current financial situation.
Financial planning can seem overwhelming, but with the right questions, it doesn’t have to be. It’s essential to take the time to get a second opinion from a qualified financial planner. These tips above from Mark Hauser help you when choosing one for yourself.