| When finding your financial planner you'll want to do | | | | with your financial goals. |
| an extensive interview with them. Getting honest | | | | Do you have any other services? Be leery of any |
| answers that fit the mold of a good financial | | | | advisor that offers any other sort of services like |
| consultant will be imperative to the selection process. | | | | legal or tax advice. These areas are expansive and |
| Here are the questions you must ask, and a guide to | | | | require their own professional guidance. Steer away |
| the answers you should receive: | | | | from any Jack-of-all-trades. |
| Where does your income come from? You want to | | | | What are your qualifications? You'll want to make |
| determine if their income comes from the fees that | | | | sure that your advisor has the right mix of |
| they collect for their time, or from the commissions | | | | experience and education so that you'll be confident |
| they receive from the products they sell you. | | | | in their recommendations. If you only consider |
| How do you charge? If they charge hourly it's | | | | planners with 5 or 10 years experience you might be |
| probably your best bet. If they collect ongoing fees | | | | overlooking competent advisers that would help you |
| to manage their clients money, you're probably | | | | for a lower hourly fee. |
| better off going somewhere else. An hourly rate | | | | Have you sold the following? If your planner has ever |
| may seem like a bad idea because it sounds | | | | sold limited partnerships, futures, options, or |
| expensive, but it's the best way to keep things | | | | commodities, you'll want to avoid them. These types |
| honest between you and your advisor and avoid any | | | | of investments are not sound and that advisor may |
| conflict of interest. | | | | have questionable advice. |
| What is the hourly rate? You'll find that the rates for | | | | Can you provide references? You want to make |
| financial advisers are all over the board. It's similar to | | | | sure that they can provide you with references and |
| legal or tax advice. You shouldn't have to pay | | | | that these references are clients that have similar |
| hundreds of dollars to get good results, but you | | | | investment needs as you. If your advisor has only |
| want to be careful not to underpay when it comes | | | | helped people with a considerably higher income than |
| to the person that is supposed to be helping you | | | | yours they might not be able to relate to your goals. |