What to look for when hiring a financial advisor? – a guide


Investing in the right places is a crucial element of financial stability. For people who wish to seek a sound financial position, must always invest wisely that can bring them profitable returns. It becomes very difficult for an individual to manage their finances on their own. It is a tedious task that requires a lot of efforts, experience and skilled expertise in this domain.

Saving an amount of money each month and investing it in the right financial organizations’ demands specialize skillsets. Not only this, but it also needs precise and timely tracking of your income and expenditure. There comes the requirement for a financial advisor who can always help you manage your expenses.

A financial advisor can assess your financial health and guide you toward achieving financial stability in the long run. They are deft in identifying market risks easily and help you make the right investment choices. There are zero chances of landing in trouble when you have a skilled financial advisor.

They will guide you in choosing the right financial products/services. So, for people who wish to have sound financial health, it is important to choose the best financial advisor. Often, it becomes a little difficult to identify a financial advisor near your place. Most people wonder about how to hire a financial advisor seamlessly. Some of the important points you need to consider while choosing a financial advisor are as follows-

Financial advisor must possess relevant education in the domain!

One of the most important points to consider while choosing a financial adviser is to figure out the educational background they are from. The experts you choose must have degrees like Chartered Accountant (CA), Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), or an MBA in Finance. A person with such an education background possesses such a skill set which is sufficient not only to understand your financial situation but also give you valuable advice for financial stability.

Experience says it all!

If you are wondering how to hire a financial advisor, it is important for you to choose ones who have years of experience in this domain. People with relevant experience can help you identify potential risks and guide you towards a better financial position. The person you choose must have experience with your asset level to understand and take care of finances in a better way.

Your portfolio matters!

If you are on the lookout for the best financial advisor, it is very important for you to check the client portfolio. Client portfolio can give you a clear understanding of the kind of work done by the financial advisor. It will be easy for you to understand whether the financial expert can help you make the right choices and guide you in investments.

A financial advisor with a not so impressive portfolio can prove to be detrimental for your financial assets. Also, do not forget to have a look at the client base of the financial advisor. An expert in this domain will always have a sound client base that will make it easy for you make the right choices in hiring one.

Financial advisors must have relevant certification and licenses!

You certainly would not seek a financial advisor who does not have a license or does not have relevant certifications that are mandatory to manage financial assets. While hiring the right financial advisor, make it a point to check if the expert has a license and has all relevant certifications. Certifications like AMFI, SEBI or IRFA certifications. Go for the ones who have worked in reputed financial institutions as advisers and has in-depth knowledge to tackle your financial assets.

The honesty of a financial advisor is very important!

Who would want a financial expert with dishonest intentions at the back of their mind? Certainly, nobody would! It is always advised to go for honest, transparent and reliable people while hiring the best financial advisor.  They will always be willing to explain to you every step they take to manage your expenses.

They will be patient, honest and transparent enough to keep you aware of their every move when it comes to financial management. Most importantly, choose the person whom you feel you can trust with your expenses. You will be trusting a person to manage your finances, so it is important that you choose an honest, trustworthy person.

Do not forget to check client feedback for the financial advisor!

Client feedback is a mandatory step in the process of choosing the right financial advisor near you. Client feedback will help you to get an idea about the kind of services offered by the financial advisor of your choice. It will help you to understand their mode of work, their trustworthiness and the efficiency with which they manage financial assets. Client feedback is always a very important step before you entrust a financial expert with the responsibility of managing your finances.

Your goal alignment is equally important!

It is extremely important to align your financial goals with the goals of the adviser you choose! Often it has been seen that if the financial expert gets a commission on certain products, they are more likely to sell those, even if they are not aligned with your financial needs! It is advised to get an unbiased adviser who believes in long-term sustainable investment rather than quick unsustainable gains!

Transparency in charges and fees!

The right expert will always be transparent about financial advisor charges to their clients. A fair advisory service does not involve any hidden charges. This will help you in financial advisor comparison and eventually lead you towards choosing the right one. The right financial expert will always make you aware of their fees and charges. Along with it, they will provide you with detailed payment structure in the beginning. Make sure to understand the fee structures and the services involved in it.

Some advisers may also charge extra for certain services and programs. It should not be difficult for an expert to explain how he or she is adding value to your accounts. If an advisor tells you that there is nothing to worry about, it surely is a red flag. So, try to avoid advisers who give a roundabout or elusive answer to fee structure queries.

If you are facing challenges about how to hire a financial adviser, Moneydial can help you find the right person. It is one of the most committed and notable financial advisor portals. The portal empowers you to choose the right adviser as per your needs. Based on the parameters mentioned above, you are free to choose the right financial advisor. Such advisors can help you out in managing your finances properly.

Financial advisers, financial planners, investment experts, consultants across multiple products are always there to guide and help you out. The verified and licensed advisers are reliable efficient and trustworthy in nature. They are fair balanced and always put clients’ interest ahead of them.


About Author


Shashank is an MBA Finance & Certified Financial Planner (CFP). He has been in the financial services industry for more than 3 years. At Money Dial Shashank heads the Product. Shashank has a penchant for writing and giving trainings on financial markets and often has many interesting things to share.

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