5 Things to consider when hiring a Financial Consultant

Having that we’ve given too much of thought on where our money go, we happen to ask certain things before hiring a financial consultant. Licenses, financial advisors working on hourly flat fee, commission fee, assets quality are queued up in our heads right away.For us to understand our questions better, it’s good to talk to people, who knew their onions.

Compensation. Commission.Variables!

At the end of the day, it’s their bread and butter. Financial planners are as shrewd as solicitors. This question comes at a point depending on how much you’re aware of your investment figures. I’m an anti-math-metric-complexity entity.

I would ask it, only after a couple of sessions. By the way, people like me should go for commission based financial planners.

 What’s going to be your compensation if I’m going to enroll myself?

Life is too uncertain.

Financial planners referred by friends make it easier for us. Rather than embarrassing the person, it’s better to check with our references.

People say that we should ask for references or clients at them. But, instead of making it awful for both the parties, it’s good to do a case study via their clients.

Replace the reference question with the following one:

May I take a look at the services and their returns offered to your clients?

This indeed narrows down the options. Than beating about the bush, you get to know the clients who were in your shoes.

On top of all, you get to know how far the engagement was!

Some of them just provide advice and point out the companies right away. The other sect of the financial planners aids us with paperwork, educate us with asset management and ongoing financial schemes.

This is what we ask them:

What is your professional training and specialization?

KISS (Keep it short and simple)!

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