Ask Your Financial Planner [Part I]

Here are some questions you should ask your financial planner in the first interview. If the answers are good enough, then it’s better to choose him as your support. Let’s ask the first two questions helping us to choose the best guy!

How to find the best match for your needs? There are many ways to achieve your goals, talking to a professional advisor is the best method we can use which guides us to success and riches.

Well, if you really want to find the best match for your needs, you must first choose three or four financial planners whether from a friend or reliable references. After that, you will make a face-to-face interview with each one asking the following:

1) How do you get paid?

It’s important to know how much the process of debt management service will cost you. There are three common ways to choose one which are fee-only, fee-based, and commission-based.

Fee-only planners get fees only for the advice they give, not for the product they are selling or promoting. Fee-based planners get fees also for the advice they give and sometimes for the product they sell. Commission-based planners are paid by the companies whose products they sell.

Never hire a financial planner getting more than 1-2 percent of your assets as a fee.

2) What’s the best credential to use?

A planner can pass many exams and has trained on some major points of financial planning but he is still not able to earn any credentials. A good financial advisor should have a good knowledge of insurance, investment planning, tax planning, retirement planning, employee benefits, and estate planning.

So that you will be sure that your financial planner will help you determine how much insurance you need while suggesting the best way to fund your teenager’s college education and so on.

Check credentials to find whether there are any disciplinary problems and complaints, or awards in his record which can help you to know your financial planner clearly.

Continue asking >>>

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