Choosing the Right Financial Advisor - Laura Dean Financial Solutions

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Presentation Description

Sometimes it happens that we have to face some financial situations like getting married, having children, facing divorce, loss of a loved one, or moving into retirement age. To plan a proper financial layout it is necessary to take guidance from a financial advisor but is quite difficult to choose a good financial advisor. To meet your financial goals we are describing some tips in this presentation related to find the best financial advisor.

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Presentation Transcript

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Choosing The Right Financial Advisor

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Be Comfortable When discussing with financial advisors, take a moment to determine your feelings with them. Initial nerves are common, however they should dissipate as the meeting progresses if you feel comfortable with the other person. If you're talking to someone and you simply aren't willing to ask them questions about how they get paid or sharing personal information on your life, then you need to rethink if this person meets your requirements.

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Schedule an Interview Once you have a working set of possible financial advisors, plan appointments to meet with each one. "Meet face to face, and still have a conversation, Love says. I want one to feel good with their communication style. They should understand what you want. Most financial consultants offer free consultations for the first visit so that you both can evaluate the other person to determine if the relationship is a good fit.

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Credentials The eligibility of your financial planning professional in America is evaluated and affirmed by the Certified Financial Planner (CFP) Board of Standards Incorporation. The qualification the board issues is the identified standard of excellence for financial planners. This certification ensures that the financial planner met the CFP Board's requirements in conditions if education and experience, and that they stick and abide by the CFP Code of Integrity. Do your background checking out and online searches, start with the Financial Preparation Association (FPA) database at fpanet. org.

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Experience Look for a financial adviser with at least four years experience in the field of professional financial advisory. This length of service and exposure in the financial industry should be adequate for your financial planning professional to know how the industry works, established his or her network of contacts and became well-versed in putting the client interest first. Casually check the financial planner's expertise and knowledge in areas where this individual or she services financial planning: portfolio structuring (individual clients), taxation (small to medium businesses), benefits package (large businesses and corporations) and other related financial issues as it pertain to your situation.

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Character Many financial hand books forget to include figure as an important factor in determining the skills and success of a financial advisor, yet this could prove to be the main gauge of all. Observe the individual's company and personal values. Truly does he or she listen to you when you lay down your financial concerns, like the drama that goes with it, if any? Truly does she or he appear impatient, slashes you off and shows up as a smart-Aleck? Say goodbye to the guy or girl instantly to prevent you from future problems. On the other hand, if the financial planner is accommodating, listens well, empathize and sympathize, you may have a gem of your financial planning professional.

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Compensation Several investments and finance experts view the source or bulk of the financial advisor's income as the determinant on where her or his loyalty and focus lies. As such, it is wise to employ fee-only financial advisors, who do not receive commissions from assets and lending options their clients purchase. Although it is not totally prohibited to sell or have interest in the purchase of some properties or assets, an individual who services financial planning needs of another person and have direct gain access to about how to satisfy those needs need (read: increases as a sales agent) may have a doubtful credibility when it comes to providing you with realistic investment options.

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