7 Questions To Ask When Hiring A Financial Advisor

The important key to consider when hiring a financial advisor is to know what questions to ask. Most patrons of investment and financial planning services do not ask any basic questions when interviewing and picking a reliable financial advisor for their financial goals and specific needs.

It is true that choosing an unqualified financial advisor can result to financially catastrophic consequences on your monetary security. Checking your financial advisor’s background, compensation, philosophy, credentials, and experience in the financial industry can easily clear out the less proficient financial advisors and successfully simplify the decision making procedure in selecting a qualified financial advisor.

Questions to ask financial advisor

One of the most important qualifiers of a professional advisor is their level of experience in serving the financial needs of their clients. There are plenty of financial industry jobs which may give the impression of real-life client services experience, but in reality these jobs are not much more than sales, managerial or administrative in nature. In order to make sure that you will hire a professional financial advisor, here are the 7 questions you need to ask when selecting the best one.

  1. How many financial plans have you created for your clients?
  2. What firms or companies have you worked for as a financial advisor?
  3. How many years have you undergone training as a professional financial advisor?
  4. What is your training background, and where did you learn the proper way to diagnose, solve, and manage the financial problems of your clients?
  5. How long have you been actively making financial plans for your clients to assist them in attaining their financial goals?
  6. How long have you been endorsing insurance and investment products?
  7. How long have you been working with your clients as their professional financial advisor?

The 7 questions that are stated above will reap the valuable information you will need to make the best decision on your financial advisor’s experience level. When it comes to financial advisor experience, here are some of the important factors to consider when hiring a professional financial advisor.

  • A good financial advisor should have 20 written financial plans- Regardless of whether you need a written financial plan or not, your financial advisor should completely understand the proper way to make financial plans.
  • They should have a minimum of 3 years of experience- Financial advisors should have at least three years prior of taking the role as your financial advisor. Given the uncertainty and volatility of current times, it is easy to make a case for 10 years or more of practical, real-world experience.
  • They should have a college degree- Having a College degree shows full dedication to their training. It is important that you hire a financial advisor that holds a college degree.

For those individuals who are looking for a qualified financial advisor, The Retirement Planning Group is the perfect company to consider and hire. They have professional and knowledgeable financial advisors who are always ready to serve and help you with your finances. If you are ready to hire someone, contact them today!

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About Ryan Costello

Ryan was born and raised in Olathe, KS and currently resides in Leawood, KS. He played college football while earning his degree from Baker University. His drive and competitiveness stems from his background in athletics, which has played a big role in who he is today. Ryan has been a Financial Advisor since 2002. Although he didn’t realize it at the time, his destiny into the world of finance began early in his high school days when a checkbook of his didn’t quite balance out. From that point forward, he developed a meticulous attention to detail with all things financial – a trait that he proudly carries with him today.

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About Ryan Costello

Ryan was born and raised in Olathe, KS and currently resides in Leawood, KS. He played college football while earning his degree from Baker University. His drive and competitiveness stems from his background in athletics, which has played a big role in who he is today. Ryan has been a Financial Advisor since 2002. Although he didn’t realize it at the time, his destiny into the world of finance began early in his high school days when a checkbook of his didn’t quite balance out. From that point forward, he developed a meticulous attention to detail with all things financial – a trait that he proudly carries with him today.