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Tips For Choosing A Good Financial Advisor

Financial Advice | Belfast | Armagh

You work hard for your money, so when you want to hire a financial advisor, do your homework. The world of providing financial advice is pretty complex. Almost anyone can call themselves a financial coach, financial planner or financial advisor as long as they meet a few minimum requirements. This is why it is extremely important to take your time and be very careful. This financial professional will be helping you grow and protect your savings.

When shopping for a financial advisor, keep the following thoughts in mind.

Look for names in your area by checking with the major professional organisations. These organisations typically require that the financial advisor meet certain standards to be a member. Once you have some names, talk with at least three candidates. Set up an appointment and meet them at their office.

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Ask each advisor for a list of their services and fees. Ask to see their resume and a list of references. You are looking for several things when searching for a good financial advisor.

Experience: You want to hire a financial advisor who has at least two or three years in the financial world. Ask about their education and why they feel they are the best choice to help you meet your financial goals.

Credentials and Certifications: There are several certifications to look for when choosing a financial advisor. These include a Certified Financial Planner, a Chartered Financial Consultant, a Certified Public Accountant, an Enrolled Agent, and an Accredited Financial Counselor.

When you meet with the advisor, ask them how they are compensated. Advisors are typically paid in one of three ways: by client fees, by a commission, or a combination of both. It is generally best to choose an advisor who is fee-based. When an advisor is paid by commission, it may become difficult to place a priority on your interests versus their commission.