Many seek financial professionals to help them with investment guidance and financial management. This management involves reviewing investments, savings, insurance, and other elements as they work toward their goals. However, not all financial professionals are created equal. Here’s what to look for while seeking a financial professional.
Skills and training
Competence is key when selecting a professional. They must demonstrate knowledge about the financial markets, investment strategies, tax laws, insurance, and other relevant areas. They should also have the necessary qualifications, credentials, and certifications. This training and education indicate they have undergone thorough training and passed the examinations needed to offer guidance in these areas.
Experience
Secondly, it’s essential to consider their expertise. Questions to ask while interviewing a financial professional include:
- How long have you been providing financial guidance?
- What types of clients have you served?
- Do you specialize in certain areas?
Understanding their experience level and areas of knowledge can help determine if they’re the appropriate professional for your unique needs.
Cost of services
Third, understand the cost of their services. Fees vary; some may charge an hourly rate, while others charge a flat fee, a commission, or a percentage of the assets they manage. Understanding these costs upfront is essential for budgeting, as fees may reduce the return on your investment.
Transparency
Another critical factor to consider is transparency. A reputable professional will be transparent about their fees, how they work, and what to expect regarding their services. They should also be willing to answer questions and provide the information needed to help you make informed decisions.
Integrity
Assessing integrity is vital. They should consider your best interests, not just their financial gain. Above all, they should be open and honest, providing professional guidance driven by a desire to help their clients.
Communication
Communication style is equally important. Financial matters can be complex, so recommendations must be communicated easily. The financial professional’s tone of voice should be professional yet approachable. They should also be easy to reach and responsive to questions.
In conclusion, finding a suitable financial professional requires careful consideration. Ask questions about their competence, experience, cost, transparency, integrity, and communication style. By taking the time to research and ask questions, finding a professional who meets your expectations can be manageable.
SWG4102450-1224e This information is provided as general information and is not intended to be specific financial guidance. Before you make any decisions regarding your personal financial situation, you should consult a financial or tax professional to discuss your individual circumstances and objectives.
Our family financial services firm, August H. Velten & Associates, has been in business for 12-years in Melbourne, FL. August Velten (CLU) is a 40-year veteran of the Financial Services industry. August is a former instructor for the Life Underwriter Training Council and once occupied the legislative seat for the Maine Association of Life Insurers. In Brevard County, you may have seen him on local access TV or read one of his articles in a local area magazine. Jessica Waterhouse, August’s daughter, left her own practice to join the firm in 2019. Jessica is a Florida licensed insurance producer, securities licensed (Series 65), a long term care specialist (CLTC) and holds certification as a National Social Security Advisor. Both August & Jessica are instructors for financial literacy workshops in both Brevard and Indian River County offering education in Social Security and Financial Planning. Contact the office today to schedule an introductory meeting or review of your current financial plan.
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