Picking a financial adviser is not a decision that should be taken lightly, after all, this is the person who you will be trusting to guide you through the process of managing your wealth and preparing for the future.
However a good financial adviser can be an invaluable asset, so it’s important to take the time to ensure you have chosen someone who you are comfortable with and who you will be able to work with in the long run.
With that in mind, here are a few important considerations which you might want to keep in mind when choosing a financial adviser.
Good financial advisers are flexible
Everybody is different and has different goals and ambitions in life, which is why all good financial advisers are flexible and able to work with you in order to determine a strategy that suits your lifestyle and current situation.
Financial advice should never be one-size-fits-all, so make sure that your prospective financial adviser has your best interests in mind and will be willing to work with you, rather than for you.
Check their qualifications
This might seem like a common sense point to consider, but it is important nonetheless. When meeting a potential financial adviser for the first time you will want to make sure you understand their background and qualifications before making any long term commitments.
A good financial adviser should be willing to offer you a financial services guide, a statement of advice, and product disclosure statements for any recommended investments, so if these are not available then that should be an important warning sign to be aware of.
Sometimes you will be lucky enough to have a friend or relative who can provide a first-hand recommendation for a financial adviser, but if not then it might be worthwhile seeking out some testimonials from past clients.
Don’t allow yourself to be pressured
When choosing a financial adviser it is important not to allow yourself to be pressured or bullied into making a decision that you are uncomfortable with.
If at any stage during your initial meeting you are not 100 per cent satisfied with the situation, do not be afraid to walk away.
Remember that the best financial advisers will be willing to offer you an initial free-of-charge consultation, in order to give you an opportunity to get to know your adviser and ensure that they have your best interests at heart.