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How To Choose A Good Financial Adviser

If you have substantial investments and need some help with managing them, a financial adviser would be able to help you in this regard. The challenge, however, lies in deciding what kind of financial adviser you would need to work with. In this regard, if you want a solid working relationship that will enable you to make smart financial decisions, you need to figure out why you need a financial adviser in the first place.

Here are 5 steps in choosing a financial adviser; Do you really need a financial adviser? It is pretty clear that not everybody is in a position to hire a financial adviser. If you are struggling to make it from one paycheck to the next, it is pretty obvious that a financial adviser would be out of your league. If you cannot compensate the financial adviser adequately, neither you nor he will be able to make it work. A good rule of thumb is that if you are in a position to save 20% of your annual income, a financial adviser is a good choice. What type of financial adviser to get The financial industry happens to have two sets of compliances which financial advisers follow called the suitability standard or the fiduciary standard. Fiduciary standard is when the financial adviser is legally bound to act in your best interests. They are also known as fee-only advisers because they do not accept commissions on their recommended investments. You need to look for the CFP or certified financial planner. Ask for referrals from friends or Google One of the best ways in which you can secure the services of a good financial adviser is by asking your friends for referrals. Another way is to trawl Google and seek out the most recommended financial adviser. Check the credentials of the financial adviser You need to head to brokercheck.com or adviserinfo.sec.gov to check out the credentials of your financial adviser. Both of these are free tools that provide the background and experience of firms and individual advisers. These sites will. More importantly, tell you if there has been any disciplinary action against the financial adviser. Interview multiple advisers In your search for the best financial adviser, do not settle for the very first adviser you interview. We recommend that you interview at least 4-5 advisers before choosing the best candidate. Remember that it is your hard earned money on the line and that you deserve the best help with it.

If you are looking for a financial adviser, look for Miami Financial Advisor Recruiting, Financial Advisor Recruiter in Miami, Financial Advisor Headhunters in Miami or New York Financial Advisor Recruiter.