How do I Choose the Best Financial Consultant?

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  • Written By: Felicia Dye
  • Edited By: Melissa Wiley
  • Last Modified Date: 19 June 2018
  • Copyright Protected:
    Conjecture Corporation
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A financial consultant can play a major role in your life, so you need to carefully select someone to act in that capacity. Consider the amount and the type of experience that the individual has. Assess the fees and commissions that you will be charged. Also pay close attention to the vibe that you get from an individual when you meet him or her.

You should consider the individual's experience. Although everyone must start their careers somewhere, you should be wary if a financial consultant would like to do so with your money. The fact that an individual completed his education does not means that he is truly ready and qualified to assume this type of responsibility. It is best to choose someone who has a substantial amount of on-the-job experience.

Also take note of the type of experience that an individual has. Some financial consultants may offer a wide range of services but may specialize in a particular area. Determine whether the type of experience a person has matches your needs.


Consider the amount that you will have to pay for the individual's services. One of the reasons that people hire these professionals is because they want to handle their money responsibly and experience growth. Both of these goals will be jeopardized if you are paying excessive amounts for fees and commissions. In addition to taking note of how much you are charged, you also need to consider what you will be charged for. Some professionals will charge for services, such as hourly rates for advice, while others will provide certain services at no charge.

Listen to what other people have to say. One of the best ways to find a financial consultant is by way of referral. Although you may not be able to totally depend on someone else's opinion, you should be able to gather a lot from the information if the source is someone you trust. This is especially true if the person you seek advice from has a long history with the adviser. Furthermore, you and the other party may be given discounts or bonuses for the referral.

There are many things that you may be able to verify when considering a financial consultant. This does not mean that you should undervalue an important factor that cannot be verified — the personal connection that you feel with an individual. In most cases, it is best to avoid hiring a professional with whom you cannot meet face to face first. When that meeting occurs, if you are not convinced that the individual is truly concerned about your best interests, find someone else.



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