5 Questions to Ask When Choosing a Financial Advisor for You and/or Your Business

Retirement and business succession planning is paramount to you and your company’s future

Many people and business owners are focused on their daily activities.  They are saving for retirement but they have little knowledge of how best to maximize their investments for retirement and forging a business succession plan.  A qualified Financial Advisor will help keep your investments consistent with your financial goals and your risk tolerances. 
 
It is not easy finding someone who not only knows about investments, but also understands how to help you and your company thrive and grow.
 
To find a qualified Financial Advisor ask your business associates, friends or relatives for recommendations.  You can also contact the Financial Planning Standards Council (www.fpsc.ca) or look in your local business directory.
 
After you find a few candidates in your area, call them and schedule an appointment to meet and interview them personally.  You then need to ask all the right questions and be certain the individual you hire has the experience and qualifications to steer you in the right direction. 

Five Questions to Ask when choosing the right Financial Advisor

• What is your background? You want someone who is qualified and has the right experience to give you the help you need.  Ask the following:

1. What are your professional qualifications?
2. How long have you worked in the industry?
3. Can you provide referrals from client’s you have worked with?

• What kind of products and services do you offer? Some advisors specialize in certain kinds of investments and others can offer you a wide range of investment options and services to meet your goals.
• How will you help me reach my goals? The advisor should ask about your financial goals and objectives. Make sure you are comfortable with him or her to provide the necessary personal details. The advisor should then be able to provide a detailed analysis and a personal plan.
• What level of service can I expect? You need to know how often you will meet, when you will receive updates and how quickly you will receive information on your questions and concerns.
• How are you paid? Some advisors charge a flat hourly fee, but most are paid a commission based on the products that you invest in.

At the end of your interview be diligent check the advisors’ qualifications and references.  Then ask yourself:  Do you like this person??  Do you have any reservation??  Because you will be providing and discussing very personal information with this advisor, so you need to be very comfortable with this person.         

Whether your end goal is personal retirement, business succession, or both, the earlier you engage in a relationship with a qualified professional, the greater the benefit to you, your family, and for preserving the legacy and vitality of your company.
 
Are you seeking an experienced financial advisor to help you and/or your business succeed? Talk to one of our professional, certified insurance and investment advisors. We have the expertise to help. Call us toll-free at 1-800-595-2150.