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Can You Trust Your Financial Planner?

Financial PlannerHaving a financial planner is an ideal choice for many. But, can you trust your financial planner? Many people do not know what they should look for when it comes to finding someone to trust with their money and their needs. If you are making an investment in an individual that will take care of your finances, you need to do so in such a way as to know that this is a person that you can trust.

To help you to make this decision, here are some things that you should consider when selecting a financial planner, for person or business use.

Determine experience. The first thing to determine is how much experience they have. Those that have been at the job (or in the career) for at least five years are experienced enough. You should select someone that has seen the booms and the busts of the market so that you know they are going to be able to handle these for you.

Cost and services. When considering a financial planner, you should also know what services they provide. What will they offer or suggest that you do? How long will it take them to come up with a plan of action for your finances? How do they charge? If it is hourly, determine the cost of just getting started with a plan. Determine these things now so that you are not surprised by them later.

Do they work with third parties? While most of the financial planners you will be working with do have third party contacts, you do not want them to be pushing services on you for their gain. If the product is something that you will benefit from, that's great. But, you should not feel pressured by his commission needs.

Who will you work with? In some cases, you will meet with one financial planner but another will end up handling your account. You do not want this to happen, unless you have met that person. Just what you are doing for this individual, you should know the experience and background of anyone that will be working with you.

How many times will they meet with you and how does this affect their fee? The communication that you get with your financial planner is essential. When will they contact you? What will their fee include as far as communication and meetings? You should have this all down before you determine whether to work with them or not. You should also know how they will answer your questions and needs as they arise.

If you do these things before you sign with a financial planner, you will be able to trust in them and their actions. If you are already working with someone, it pays to talk to them about these things now, so that you know that your finances are well taken care of. It is a simple step that can be just a meeting long but one that offers you security and peace of mind. Can you trust your financial planner?
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