Whilst there are a lot of people who would consider themselves informed about wealth management, most of them still heavily rely on their financial adviser when making important monetary decisions. Especially when making an investment, the majority of these individuals are more likely to lean on their adviser’s knowledge than their own.
By definition, a financial adviser is a person who suggests and renders financial services to clients, depending on their individual financial situation. There are different kinds of financial advisers such as certified planners who help people plan for retirement, enrolled agents who help people with their taxes and general financial planners who help people in controlling their money. That said, your success may hugely depend upon having the right guidance when it comes to things like money, taxes and investments and choosing a trusted and knowledgeable financial adviser is one of the most important financial decisions you’ll ever make.
To help you pick the right adviser that would be perfect for your financial situation, here are the qualities you should look for:
Has an outstanding reputation
Steer clear from hot-shot planners who seem too good to be true, as most of the time, they are. The first thing you have to take into consideration is the background and reputation of the company the adviser works for. Take your first step by reading online reviews and testimonials or getting a strong referral from a family member or a friend.
An experienced financial professional
After doing your research about the adviser’s reputation, be sure to verify their experience and credentials. Keep in mind that all legitimate financial advisers should have industry-recognised certification from having significant experience in the financial services industry.
Takes a comprehensive view of your finances
In order for the adviser to develop a meaningful and accurate strategy, they should be willing to take the time to learn about your full financial situation by deeply understanding your banking, investment, insurance and credit needs.
Prioritises your interests first
A good financial adviser must not be restricted to only proprietary solutions that their company sells. They should be able to represent a wide range of financial products and service options and must not push you to make huge monetary decisions simply because they want to get the biggest commission. Remember that a professional adviser would always tailor your plan to meet your goals.
Takes a proactive approach
A quality financial adviser should be able to help make complex financial concepts easy for you to understand. Additionally, they must always update you on current financial issues and opportunities by keeping the lines of communication open.
Invokes confidence and trust
Keep in mind that having confidence in the recommendations of a financial adviser you can trust is one of the most important things you should look out for. If you feel nervous, fearful or stressed out after a financial discussion, your current adviser will not be the right one for you.
Has a support team
A quality financial adviser should have access to a team of experts to ensure that you get the professional advice you require to meet your specific investment, wealth management, insurance or debt management needs.
If you are looking for quality and reliable financial advisers, our team here at Stadden Forbes can be your best choice. We are committed to helping our clients understand and plan their financial future by supplying the right knowledge and information that will help each and every one of them build the long-term solutions they need. We’d love to hear from you. Get in touch with us by giving us call on 020 3405 5320 or send us an email at email@example.com.