You will know a good financial advisor with the following qualities: putting your interest first, understanding your needs, understanding your situation, work hard to help you accomplish your financial goals in a given time. If you find an honest, trustworthy advisor and one who will treat your business as his own in that he treats your losses as his own, then you have found yourself a good one. With a good financial advisor with good values, then you can be confident that your finances will surely in good hands.
Below are essential to the financial advisor that you will hire.
Your should look for credentials in a financial advisor. He should be certified by the board, the Certified Financial Planner Board of Standards INC., which issues certification for financial planners. What this certification means is that the financial advisor has met all the requirements of the board when it comes to education and experience, and that he abides by the boards code of ethics.
Look for a financial planner with many years of experience in the field of professional financial advisory. The benefit of a financial advisor who has been in the financial industry for many years now is that he know the industry well, has gained himself many contacts, and has known the importance of putting his client’s interest as his priority. You should hire a financial planner with knowledge of portfolio structuring, taxation, benefits packages, and issues which apply to your specific situation. IF your financial advisor has successfully worked for a client who has the same needs as yours, then you are looking at the best advisor you can have.
Choose a financial advisor who is a fee-only financial advisor or someone who does not receive commissions from investments and financial products that clients purchase. You can questions the credibility of the financial advisor who gets commissions on investments and financial products that you purchase because he might be doing it for the profit even if it is not a realistic investment option for you.
An important factor I determining the competence and success of a financial advisor is his character. This could prove to be the most important gauge of all. You should take note of his corporate and personal values. He is that kind of person who listens well to your financial concerns even if there is a lot of drama included in it. Choose a patient person who has ears to listen and is not arrogant. If you hire an impatient arrogant advisor, you might have problems in the future. The qualifies of a good financial advisor would be someone who is accomodating, patient, a good listener, can empathize and sympathize with you.