What to consider when dealing with a financial advisor.

Posted: August 17th, 2013 | Author: | Money

Financial products are sold not only in banks and similar institutions. More and more often we meet with a financial advisor profession. And as far as employment standards in a well-known bank is generally very high, the financial advisor can be operated by anyone. What to be careful about when dealing with them?



First of all, their competence. If the adviser has clearly problems in orienting the products he sells it is better to let go. I do not mean, of course, fewer financial products, but if you expect something popular, we should expect that the consultant will have knowledge on this subject. Before signing anything it is worth reading a bit on your own and gently check a person who supports us. A good financial advisor should first of all ask questions. The person who buries us having arguments to convince us he cannot ask the right questions. Really good counselor should ask a few questions, and based on them present us the right product. There will be no need for him to persuade us, we will do it by answering his questions.

You should also be strictly and consistently asked about any defect in the product you want to buy, especially for the cost. Adviser is obliged to inform us of any costs that we have incurred and any details of the signed agreement. Do not forget also that we should read all the documentation themselves and ask our questions advisers.

Also remember that there are plenty of financial advisers and they can take your pick. Select the best what you can find. Lastly, we should also mention the friends advisors. Many consulting firms based on a model representing this way – employ the consultant for little money, they have persuaded their friends for loans and credit cards to go slow down. It is understandable that we want to help a friend to work out a commission, but above all, let us protect their own interests.


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