How to Find a Good Financial Advisor

If you are on the lookout for a great financial advisor, there are a number of questions you should arm yourself with to ask them. Their answer to these questions will help you to determine who will be best suited to serve your needs. Let’s take a look at a few things that you need to know.

Questions to Ask a Financial Advisor

The first thing you need to know is how often they will need to meet with you. Financial situations change very regularly, which means you need to know that they are always ready to adapt to those changes. Of course, there is not likely to be any need to meet every week, but you need to know what they recommend given your situation and whether they would be able to change the frequency of meetings if the need arises.
Secondly, the best financial advisor will be happy to show you a sample financial plan, enabling you to see exactly what they will be able to do with you. You must be able to understand the sample plan they give you. Additionally, it should clearly show how the advisor works and how they make sure financial goals are being met or even unproved upon. Financial advisor should help you not just in terms of financial investments, but also in terms of planning.
Next, ask how much the advisor charges for their services. You also need to know how they expect this compensation to come to this. Some, for instance, work on commission. Others will take a percentage of your total assets, which is usually between 1% and 2.5%. This is an increasingly common method of compensating advisors and it is likely that most will work in this way in the near future. You need to know how the advisor has set their percentage as well. The ones that charge the most are not necessarily the best advisors, after all.
Finally, you need to ask what sort of qualifications and experience your potential advisor has. Many financial transactions can only be performed by advisors with the right qualifications, so you do need to look into this. The experience they have is equally important and it would serve you well to look into how other people have felt the service was delivered to them. There are numerous ways to achieve this. Firstly, social media is a very powerful tool in which people are able to provide their honest opinions. Other options you have available to you is to consider a website such as the Better Business Bureau. If your financial advisor is listed there, you will be able to see whether they have had any complaints in the past and how they have responded to these.
The internet is a very powerful tool in terms of helping you find the best financial advisor. You should be able to find almost all of the above details online, often without ever having to speak to anybody.