In the past, people sought professional assistance to craft a personal financial vision statement. However, in today’s global marketplace, financial advisors must be able to adapt to the changes in the markets that are happening every day.
It is important for financial advisors to become experts at meeting client needs across their range of offerings. If your financial planner is up to speed on the latest technology, then you need to know that they are experienced in that type of technology. For example, do you know if the financial advisor you are considering has Internet access? How about fax access or voice mail?
Ask your financial planner how often they get out of their office and for what purpose. If the planner does not have time to meet with clients outside of work hours, then they may not be doing their job well. Not being able to meet clients will lead to disappointments that could have been avoided.
A financial planner can help you secure your future and reduce financial risk through high quality advice. Before you give out your information or hand over your hard earned cash, make sure your advisor’s hands are clean. They need to have good ethics, the ability to create a clear vision and they need to show financial literacy and financial planning experience.
A financial advisor should be able to demonstrate a consistent performance history. Although financial planners like to collect money, that money should only be for working with you and your family. If a financial planner is involved in a legal proceeding or has received complaints, they should be very clear about their accountability. An investor who takes short cuts will leave investors in jeopardy.
To determine whether or not you have found the right financial advisor, ask them to share examples of their past services. The financial planner should offer sound advice but also be able to communicate clearly and in an understandable way.
In addition to seeing examples of past performance, you should see how much time the financial advisor works with you in a typical week. This time frame should allow you to meet with the advisor in person but it should also allow you to check your progress by phone, through email and even on the phone with an automated phone system.
Finally, the financial advisor should be a specialist in financial planning. This means they have the knowledge and experience to handle all types of planning and investments. They should be able to tailor a plan for individual goals and objectives and can manage personal investments, as well as your investment portfolio.