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. Your net worth will be taken care of if you find a financial advisor with good values.
Below are essential to the financial advisor that you will hire.
Your financial advisor should have credentials. Choose someone certified by the Certified Financial Planner Board of Standards Inc, the body that issues certification for financial advisors. A financial advisor who has had education and experience in financial planning and abides by the boards code of ethics is that which is certified by the board.
A person who has many years of experience in the field of professional financial advisory is the best person to take as financial advisor. If the financial advisor has years of service and exposure in the financial industry, he should know how the industry works, has a network of contacts and is well versed in putting his client’s interest first. You should hire a financial planner with knowledge of portfolio structuring, taxation, benefits packages, and issues which apply to your specific situation. It will work out well with you if your financial advisor has had a client who has that same knees as you have and have been successful in the job.
The best financial advisor is a fee-only financial advisor who does not receive commissions for investments and financial products that clients purchase. This is because if he is getting commission on investments and financial products he may have a questionable credibility when it comes to providing you with realistic investment options.
An important factor I determining the competence and success of a financial advisor is his character. The financial advisor with good character and values is perhaps the best thing you could look for in a financial advisor to hire. His corporate and personal values should be examined well. He should be someone who listens to you when you lay down your financial concerns, including all the drama that is included with it. Choose a patient person who has ears to listen and is not arrogant. An impatient arrogant person will not be the kind who will take your interests to heart. The qualifies of a good financial advisor would be someone who is accomodating, patient, a good listener, can empathize and sympathize with you.