Tuesday 3 May 2022

How to choose a good financial advisor?

 Many people, for fear of not finding a trusted financial advisor, decide to plan the destination and amount of their investments themselves . Rare is the time that the popular proverb does not have the key: shoemaker, to your shoes. Delegating to professionals is one of the healthiest decisions you can make for the return on your investments, but, as with a good partner, it is not always easy to find the right person. [Need a help this month? Apply for your loan here ] Are you looking for a financial advisor? Read these tips and choose without fear of making a mistake.

 7 questions to ask yourself to make the right choice with your financial advisor

 1st. Are you certified as EAFI?

 This official accreditation as a Financial Consulting Company was born in 2008 to separate the type of services offered in the sector. Since then, on the one hand there are the professionals who advise on investments , analyze them and create financial reports, and on the other the corporate ones, who advise on mergers, capital increases, etc. It is the National Securities Market Commission the one in charge of granting the certification, which is a guarantee of choosing well . Make sure your advisor has it.

 2nd. Is it 100% independent?

 You must be clear that the function of a financial advisor is not to sell products . His role is to put himself in your shoes and recommend you with neat impartiality what is the best thing you could do with your money at all times. However, it may happen that the so-called professional receives some kind of reward for encouraging investment in certain financial products. The guarantee of success cannot exist but the honesty and transparency of your advisor, that they do not slip it to you .

 3rd. How much experience do you have?

 How long has it been in the ointment? The experience of an advisor gives him an extra capacity of intuition, a kind of sixth sense to make better decisions for your money. But beware, there are very expert young people and seniors who seem to have just left college; experience and age do not always go hand in hand. Try to contrast the information and look for opinions .

 4th. How do you charge?

 There are many possible ways to pay an advisor their fees. It can charge you a commission , that is, take a percentage of your profits, charge a fee for its services or sell its services by the hour for specific consultations, which one suits you best? Evaluate and decide.

 5th. How often will you have contact?

 It is important to know if it will be at your disposal when you need it or how often it will give you information about the status of your portfolio. Both parties must be clear about it to avoid misunderstandings.

 6th. Does it know and adapt to your investor profile?

 Each person has a different investor profile . Risk aversion varies not only between people, but even depending on the different life situations of a person. A good advisor is able to recognize it and adapt her advice to your needs.

 7th. And we're not talking about how much it costs?

 We have not mentioned price in the entire article because a good advisor is not expensive or cheap for what they charge . An advisor may seem very cheap and his decisions end up being very expensive. Or vice versa, and that an advisor that seems expensive becomes your best investment. In the latter case, you can say that you have chosen a good advisor. Do you need extra help? We have our fast credits with which we offer you up to 1,000 euros (300 if it is the first time you request it) so that you can easily face any unforeseen event. In 10 minutes and with hardly any paperwork!

 

 

Posted by: John Labunski

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