7 Alarming Things You Must Know Before Hiring A Financial Planner

A Financial Advisor is also your wealth guardian. A financial advisor takes care of his clients as a Family Doctor. 

 

He looks holistically at your financial portfolio & also advises the clients even when he isn’t handling them directly.

 

1. Do you Google the medicine when you are ill?

Magic is not in medicine. The right dose of Medicine at the Right Time with the Right Combination & Right Precaution will give you a magical recovery.

 

Only a skilled & experienced advisor will be able to do the magic to your financial health.

 

You must know the work experience & certifications of the financial advisor before hiring.

 

2. Would you go to a doctor whose clinic is always empty?

Finding out the size of an advisor’s client base can tell you a lot about what kind of service you can expect to receive. 

 

Don’t forget to ask for the advisor’s client base and top clients.                                                          

3. Do you visit a Multispecialty Hospital or a local doctor for a health check-up?

You need to know the infrastructure setup of the advisor. It is also advisable to visit the advisor’s office before hiring him

 

4. A Part-time nurse or a Practicing Doctor? 

Feel free to ask whether the financial advisor is a part-time practitioner or a full-time Financial Planner.

 

It can be dangerous working with part-timers as they work only for their own benefit.

 

5. How about a medical emergency and your Doctor is on holiday abroad?

It’s very important to know the team members and ways to reach the advisor. 

 

It can be quite difficult for you if your advisor is unavailable while he is traveling or ill.    

 

6. Technologically updated Doctor or old-style Practitioner?

It is equally important for you to know if your advisor is technologically updated or not. Bundles of documents and several signatures: not a good idea. 

 

Ask for the website address, link to Mobile Application, and paperless transaction facility.    

 

7.Would you enjoy Health check-up, Medicines & Doctor consultations at different places?

Ask for the product basket offered by the advisor. Your life will be at ease if your advisor can sort all your financial needs.

 

Before you hire a financial advisor, it’s crucial to understand how they work. 

 

Will they put your best interests first, or will they serve themselves? And will they create a tailored list of recommendations, or throw a generic list of brochures at you during your first meeting?