How To Select A Financial Planner
There are a lot of people who want your money. The same is true of financial planners. There’s no doubt that a lot of them are good, but how can you make a determination as to who might be good for you?
1. Ask your friends.
If you have close friends, they probably have some of the same qualities that you have. If they have a financial planner, ask them how they feel about that person. Do they like their planner, and can they talk easily with them? Does the financial planner try to explain things to them? Also ask them how they view the performance of their portfolio.
2. Research the company your planner works for.
Even if your planet works for a company with a name you’ve heard of, name recognition doesn’t mean that company does great for every type of client. You might find that some companies work better with people that put a lot of money into their portfolio than people who start low and want to take their time in adding more money. Some large companies are making clients with small portfolios take care of their own accounts online these days.
3. Ask your planner about his/her portfolio.
Any planner who’s hesitant to answer this question might not be doing the same thing they’re trying to talk you into. In financial planning, that’s not a great endorsement for their company or their own confidence in how well it will perform for you.