Choosing the right financial advisor in an ever changing market can be a monumental challenge. Finding someone you trust may seem impossible at first but if you dig deep and conduct thorough due diligence you can find an FA who meets your needs.
Spend weeks doing in-depth research on your prospective professionals. Build a watch list of potential advisors to patiently work though. Sit down for an interview to get a feel for their intent. If you spend enough time getting to know the FA you can gauge their true motivates. Most advisors are professional, honorable people who have your best interests at heart. Doing strict due diligence helps you weed out the bad eggs to find professionals who will provide a steady return on your investments.
Sit Down to an Interview Session
Before you entrust your wealth with someone sit down to interview them. Build an extensive list of probing questions to find out if their skills match the task. Think about your life savings. Would you hand over the keys of your financial future to someone you never met or interviewed thoroughly? Get a feel for the financial advisor’s motives. Ask detailed questions. Grill the person if you need to find greater clarity in their responses. Ask at least 10 to 20 penetrating questions to get a feel for their intent before you decide whether or not to hire them.
Delve into their Background
Research into the FA’s background before hiring a professional to handle your investments. Deliver into their schooling at both the undergraduate and advanced levels. Skilled, experienced financial advisors should have completed at least their Master’s and/or extensive financial-specific certifications to prove their competence. Patiently mind information related to their schooling to gain confidence in your choice.
Research into their professional history. How long have they worked in the financial services industry? How long have they been with the company? An experienced FA who’s seen bull and bear markets can manage your money without getting too excited during upswings or too terrified and panicky during downswings. Having emotional maturity during wide swings in the market is a signal of a skilled, professional, successful financial advisor.
Has the financial advisor handled accounts similar to yours with success? Whether you’re a big ticket or small ticket client you want a proven track record of success. Make sure the FA has a record of steady returns on similar accounts before you hire them to handle your assets.
Word of mouth marketing via other financial professionals and former or present clients gives you a glimpse into how the FA services accounts. Ask around at the firm or other firms for feedback on your prospective financial advisor. If you have a friend in the finance industry ask them to dig deeper on your potential FA. Former or present clients share helpful insights into how an FA operates. Demand glowing testimonials and rousing endorsements from both professionals and customers alike before you trust an advisor with your savings.
Contact Aaron DelSignore for your financial services needs.