It is an important decision to choose a financial planner. Who can you trust to manage your savings and plan for your financial future. It does not mean that anyone claims to be a financial advisor. They need to have the right certification, experience, and knowledge.
The Four Cs of choosing the right financial planner
1. financial planner
*What certificates, college/university degrees and experiences does he/she hold?
*How many clients does he/she have?
*Ensure that the planner is certified by a government body or registered with the Investment Dealers Association of your region.
2.Compensation
*How are you paid? Flat fees, salary, or commission? Beware of people who make large commissions to place you in high-risk funds certified financial planner india.
*Is there an underwriting fee for my investment fund?
*Will your company explain the costs associated with each investment?
*What’s the cost to cancel or liquidate my account with your company? This information is important if you plan to change funds or invest with another company.
3.Characteristics
*What is your investment philosophy
*Do you concentrate on the domestic market, foreign markets or both? (Answer should include both).
*What’s your specialization? What is your strongest area? (Global portfolio management, no load mutual funds, stocks, bonds etc)
*How do your views of risk compare to mine?
4.Customer service
*What services does the firm offer?
*How accessible can you (the agent), be?
*Will your prospectus review the fund’s performance over the last five to ten years?
*What was your year-to-2021 investment performance?
*What was your worst year? Which was your best year? Why? (After asking this question, look for defensiveness or humility. It reveals your personality type.
*Do you offer financial planning or money management?
A financial planner is a person who works with you. They should match your risk tolerance, financial goals, and personality. You want to ensure that the money you have worked so hard for is safe. Ask for references from potential planners and get at least three of them to call you.
Richmond Acheampong
Co-founder, Web Editor
Parent Tree
Online Family Resource
Good Moneying 