How 2 find Personal Financial Advisor? & What 2 look out for?

Question

hi,

i'm looking for a good personal finacial advisor to help me invest my money in the right direction.

QUESTION>>>> do any of u know how to find honest&reliable financial advisor that knows what he's doing?

thanx in advance

Answer 1

Financial planning is the process of meeting your life goals through the proper management of your finances. Life goals can include buying a home, saving for your child’s education or planning for retirement. The financial planning process consists of six steps that help you take a COMPREHENSIVE "big picture" look at where you are financially. Using these six steps, you can work out where you are now, what you may need in the future and what you must do to reach your goals. The process involves gathering relevant financial information, setting life goals, examining your current financial status and coming up with a strategy or plan for how you can meet your goals given your current situation and future plans.

Financial planning provides direction and meaning to your financial decisions. It allows you to understand how each financial decision you make affects other areas of your finances. For example, buying a particular investment product might help you pay off your mortgage faster or it might delay your retirement significantly. By viewing each financial decision as part of a whole, you can consider its short and long-term effects on your life goals. You can also adapt more easily to life changes (marriage, children, death, taxes, retirement, estate planning) and feel more secure that your goals are on track.

There are many type of "financial advisors" available for the public. However, like doctors, attorneys and CPAs, financial advisors are not created equally. One of the better nationally accreditted financial advisors is known as a CFP aka Certified Financial Planner. (see links)

Why should you speak with a CFP instead of a "financial planner" at Schwab, Goldman Sachs, eTrade, or the local bank? First the big name institutions usually won't make time with you unless you possess well over 25k, 100k, 250k or 500k. Even if they do meet with you they rarely take the time to create a comprehensive finanial assessment for your unique situation/needs. But most importantly is the fact many are quite bias and have conflicts of interest in how they are paid and most advisors are not CFPs. See this article: http://articles.moneycentral.msn.com/ret...

A good financial advisor will possess three things:
- a strong list of client referrals whom you should check (make sure to interview the CFP as you would a job candidate)
- no conflict of interest in how they are paid versus fulfilling the clients financial needs (i.e. if someone is paid w/commissions, they it is a red flag if they churn your investment accounts, or likewise advises you to buy insurance that is the most expensive)
- a CFP which demonstrates they're committed to competent and ethical behavior when providing financial planning. Individuals certified by CFP Board have taken the extra step to demonstrate their professionalism by voluntarily submitting to the rigorous CFP® certification process that includes demanding education, examination, experience and ethical requirements.

Financial advisors are all around you, but few possess high ethical standards AND possess a comphrensive financial background AND possess the necessary work experience to objectively help you. Yes you can use the do it yourself financial planning books, but remember none of them are specific for your needs. Also, CFPs dedicate their time when most people are working for a living to provide professional opinions developed just for you. Your needs are grossly different than the individual next to you and/or your coworkers. Read more at the links to educate yourself on the risks and benefits for using a CFP and not settling with just anyone who carries the title "financial advisor".

Answer 2

I would ask people you believe are successful who they use as a financial adviser and why. Then I would set up meetings with several potential candidates. Have a plan as to when you want to retire, and a good guess as to the minimum amount of wealth you want to retire with. Bring all revelant financial info with you. Then let them prepare a plan as to how they will get you to where you want to go. Also during this meeting, you will want to ask about their qualifications and make sure they have valid licenses. Since I am far away from retirement, (I'm in my 30s'), I went with the guy who was aggressive in investing, invested in mutual funds that invested in well known stocks. Also this person invested my money in several mutual funds instead of putting all of my money in one stock. Also, check out the fees, especially if you don't agree with an investment and want to change. In many situations, you may have to pay a fee to the financial planner and the company in which your money is invested in. This is not right, especially if the planner didn't really listen to you and made a mistake. I know this is a lot to consider, but it is your future. You can never be toooo careful. Good luck.

Answer 3

Get a No Cost Background Check Scan at https://bitly.im/aNDOF

Its a sensible way to start. The site allows you to do a no cost scan simply to find out if any sort of data is in existence. A smaller analysis is done without cost. To get a detailed report its a modest payment.

You may not realize how many good reasons there are to try and find out more about the people around you. After all, whether you're talking about new friends, employees, doctors, caretakers for elderly family members, or even significant others, you, as a citizen, have a right to know whether the people you surround yourself with are who they say they are. This goes double in any situation that involves your children, which not only includes teachers and babysitters, but also scout masters, little league coaches and others. Bottom line, if you want to find out more about someone, you should perform a background check.

Answer 4

I'm a professional financial advisor and planner in Calgary.

I love to talk shop and meet new people.

I'm available for any questions. Hope I can help.

Daniel Sheehan

587-223-2215 (cell)
[e-mail]
LinkedIn: ca.linkedin.com/in/daniel4sheehan4oil4engineer/

Answer 5

Look for someone who is a certified financial planner.

Also, make sure you speak to current clients.

Understand their fee structure.

Checkout this site to find certified financial planners.

Answer 6

To find a planner that is right for you, I urge you to visit http://www.plannersearch.org. This is the site to find a CERTIFIED FINANCIAL PLANNER™ professional. They will list how they charge their fees, their specialties and the clients that they serve. Then be sure to ask for their references.

Answer 7

Can be very lucrative but can take time to build a clientele. Besides requiring a good head for finance, much of the job will be getting clients so you need to be sure you have the interpersonal / sales skills. Good luck

Answer 8

you look for someone who will teach you how to manage your money and then allow you to make a decision based on knowledge. don't get someone who just does it for you, you will be so mad at them when your investments go down by 50%