For most young people today, who don’t expect that government pension or security programs will be around in the future, deciding on an expert financial advisor will be a crucial decision to make. There’s no getting around the fact that financial choices made when young can have a deep impact on the quality of retirement later in life, however soon or late that could be.
The above reasons, then, should illustrate why it’s important to know a few things about how to go about finding an expert financial advisor. After all, this person is going to serve as a guide through potentially hazardous waters. So don’t just land on the first person who pops up on a search engine after typing in “expert financial advice” or the like. The finance world is full of shady characters and double-dealers, so keep that in mind.
Always check on a planner’s credentials, certifications and memberships in professional associations. No planner worth his or her salt will hesitate at providing background information. In fact, the good ones all encourage potential clients to look at their bona fides carefully before making a decision. Generally, any planner at one of the large financial services companies will have all these attributes.
This is not to say that only the largest companies have planners who meet all requirements, though. There are many independent advisors who are just as competent. Also, advisors and professional advisor firms always seek to make sure they’re registered with federal or state securities bureaus and that they’ve properly filled out Form ADV Parts 1 and 2. The final copy of it can be viewed online at the Securities and Exchange Commission’s (SEC) government website.
Failing to exercise reasonable and prudent caution when it comes to working with an expert financial advisor can be a recipe for failure down the road. With the amount of information freely available on the Internet or via a simple phone call about any of these people, it would be a crime not to take the time to check. And from there, selecting an advisor will be a matter of picking from among the best on the market.
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