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Choosing A Financial Advisor/Planner
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The best way to seek a reference of a person who is happy with his advisor’s services. |
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He (advisor) should be passionate about his work. |
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He must have genuine desire to serve you. |
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He should have completed a professional, reputed course such as “CERTIFIED FINANCIAL PLANNER” to upgrade his knowledge. If he is keeping updated with the latest educational courses, you are likely to be the winner. |
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It is essential to know his experience in the advisory profession. |
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He should have guiding poles around his service area, which confirms that he is genuine. |
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You visit his office and find out his personal behavior, honesty, integrity with his services, pays taxes honestly etc. |
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You need to find out if he is competent to serve various asset classes of your choice. |
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He must provide proper financial solutions to your dreams and goals. |
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He should serve to execute your plans by helping in buying, selling, redeeming, switching and many other operational aspects. |
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He must go for periodic review and advice for a change and rebalance your portfolio. |
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He must offer a bunch of standard services to choose from. |
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His maximum charge to be negligible when compared to the impact a portfolio return can have, based on the quality of his advice. |
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If he charges fee to you, make a contract (mostly 1 year) which specifies the time frame of service. |