Tips On Choosing A Financial Adviser

Tips On Choosing A Financial Adviser



Tips On Choosing a​ Financial Adviser
Most people would never consider installing a​ new transmission in​ their car by themselves .​
They don't have the time or​ skills, so they hire a​ mechanic for peace of​ mind .​
Many of​ today's investors take the same approach to​ investing and get expert advice from an​ experienced financial adviser .​
The 77 million Americans who are preparing to​ enter retirement want to​ ensure their savings won't run out .​
The average investor, however, doesn't understand market fluctuations or​ complex financial products .​
Studies show that those who seek the advice of​ a​ financial adviser are more confident about their financial futures-but how do you find the right person for the job?
Step 1-Identify your needs .​
Whether you need assistance with retirement planning or​ saving for your children's education, you should define your financial objectives before you begin your search for an​ adviser .​
Step 2-Ask friends, family and co-workers to​ make recommendations .​
Your financial adviser should be someone you trust-you're putting your hard-earned money in​ their hands.
Step 3-Interview at​ least three advisers before making the final selection .​
During the interview process, there are many factors to​ consider .​
Look for an​ adviser who has extensive experience in​ multiple areas, including investments, insurance and retirement planning .​
You will also want to​ inquire about the adviser's licensing-he or​ she should have a​ Series 6 or​ 7 registration in​ good standing .​
You can check an​ adviser's record by contacting the National Association of​ Securities Dealers (NASD) at​ (800) 289-9999 .​
Once you've confirmed that the adviser has a​ good track record, it's time to​ delve deeper into his or​ her personality .​
a​ good adviser will consider all aspects of​ your financial situation and design a​ customized plan to​ help you achieve your goals .​
He or​ she will provide the same level of​ service to​ all clients, regardless of​ how much they invest .​
It's also critical that your adviser's investment philosophy is​ consistent with your own .​
For example, an​ adviser who favors risky strategies is​ not a​ good match for a​ conservative investor.




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