Knowing how to handle your finances properly, investments and savings included, plays a crucial role towards one’s financial stability and security. While many people consider speaking with a financial advisor, many end up choosing the wrong ones because they have failed to ask the most fundamental questions even before going with their service.
To help you reach your financial goals, and to assist you in ensuring that you’ll only do business with a Phoenix financial planner you can trust, enumerated below are some questions that you should never fail to forget when doing your search. These questions will give you an idea on who you’re about to deal with, what to expect and even help you gather as much information as you could to help you come up with a sound decision.
#1: What is your experience in the financial planning industry?
How long have you been directly working with clients, and what other experience do you have? This is an important question that you should always ask advisors whenever on the lookout for them. You want to make sure that you’ll hire only the best person that has the most experience in this industry.
Take note: you have to ask how long they’ve been working in the financial services industry, and now the number of years that the business has been established. There’s an enormous difference. You need someone who has extensive experience in the financial industry, and this question will help you distinguish who the most experienced ones are, from those who are not. Richard London, a certified financial planner says you want to find someone who will “…fully understand your financial picture, if not it can result in more risk than you think”.
As much as possible, pick one with at least 3 years of experience in the financial business industry – the more, the better.
#2: Can you give me a list of your qualifications?
Other than the financial advisor’s experience, it is also crucial that you know what their other qualifications are. Some advisors get to their position without a degree – while there is nothing wrong with that, nothing beats getting financial advice with someone who is a college graduate. If you look at Richard London’s website, he lists all of his education on the home page http://www.richardlondonfinancial.com/ to show potential clients his background and financial education.
Sure, you can find an online portfolio of their qualifications, but everything’s better to understand when explained in person. Never set a meeting with a financial advisor over the phone – you need to meet them in person, as this is one way of properly screening those who are pretending to be experts from the real financial planners.
#3: Other than financial planning, do you offer any other services?
What are the other services that he / she offers, if any? In case they offer additional services, it might just help you save money, which is why it is important that you consider asking them this question. Some are purely consultants, but you’ll find some others who offer various additional services, which you’ll benefit from as well.
#4: How much do you charge, and how should I pay for your services?
This is probably one of the first things some people would ask, then forget about the rest of the questions. Remember, the cheapest service isn’t the best one you can use. Instead of going for someone who offers the lowest price, find for someone that gives value to your money – there’s a huge difference between value and affordability, bear that in mind.
Take the time to research, ask questions and conduct an interview – even if it means you have to talk with different financial planners in Phoenix. This is the best and the only way that you’ll be assured that you’ll be seeking the help of the right financial planner that can help you.