Selecting a reputable financial advisor is as important as saving your money. The right financial advisor can help you plan out your dream retirement, while the wrong person can create a financial nightmare.

1. 7 Factors To Keep In Mind Before Choosing A Financial
Advisor
Selecting a reputable financial advisor is as important as saving
your money. The right financial advisor can help you plan out your
dream retirement, while the wrong person can create a financial
nightmare.
1. Experience: Never underestimate the importance of experience when
selecting a financial advisor. The more clients the planner has
handled, the better are his chances of handling your finances well.
The number of clients, give you an insight into the management and
skills of the professional.

2. 2. Qualifications: It is easy for any layman to call himself a
financial planner so it is important for you to be sure of his
qualifications. He should hold a valid degree from the recognized
institute and should be a registered member. Before taking him
on, feel free to ask for his qualifications.
3. Services offered: You should
be certain of what all services
that you are going to need and you
should convey it to your
prospective personal financial
advisor. Ask him if he has
experience in dealing with those
services and if he could match
your expectations. This will help
you to have only realistic
expectations.
4. Approach to work: An advisor can work either on a per
project basis or an hourly basis. Choose an approach that best
fits your budget. Over time, an hourly rate will be heavier on
your budget.
5. Personal attention: Many financial advisors work alongside
assistants. Ask your financial planner if he would personally
handle your finances or his assistants will work for him. If your
portfolio will be assigned to his interns, ask him about what his
review procedures are.
6. Payment criteria: A financial planner can be paid by three
different modes: A fixed fee Commission from the product A
combination of fees and commission Be sure to finalize the terms,
conditions, and payment plan in your agreement. Don't choose the
advisor that asks for hefty advance payments.

3. 7. Ask for his personal interests: Several companies offer
incentives to financial planners to sell their products. Even
though this is perfectly okay, some advisors may be tempted to
sell bad products or products which are not suitable for your
portfolio. Openly ask your advisor if he a member of such
programs.
8. Reviews: It is very important to consider the reputation of
the financial advisor before hiring them. Look online for the
reviews about the financial advisor. If you want to find the
first hand experience of working with the financial advisor, call
their existing clients.
Try to get all the terms of the contract in writing. Get it duly
signed and keep it with you for future reference. Having your
finances handled by a perfect stranger is a matter of some
delicacy, which is why you should thoroughly check the advisor’s
references.