How to choose the best financial advisor

Your financial advisor is just like a business partner, so you want to make sure that you select the best possible advisor to match your requirements

09:00 27 September 2013

As soon as you start your investments, you should always be on the lookout for a good financial advisor. It is not easy. The most difficult part will be to find the one that is right for you. While most of them seem to offer the same kind of services, there are ways to make sure that you will get the best advisor for your needs.

Here are some great tips to make this decision easier for you:

• Evaluate your investments. You have to know exactly where you stand and, most importantly, where you would like to stand in the future, before searching for your financial advisor;

 

• If you have friends who have used financial advisors in the past, ask them if they can give you a list of the most trustworthy ones;

 

• Look for a financial advisor with ratings first. They may not always be the best, but you definitely have to check them out before making this decision;

 

• Meet up with some of the financial advisors that you want to talk to, and have an open discussion with them – the more sincere you are, the best services they will have to offer;

 

• Ask all of the financial advisors for their fees and hidden fees (if any). There is no point in finding the right advisor for you if you can't actually afford his services;

These are just some of the things that you need to take into consideration when looking for a good financial advisor. If you don't think that you can afford one at all, you have to know that some financial advisors actually work only with commissions; this means that they will get paid only when, and if, your investment succeeds.