If you are ready to make your first investments, but you are having trouble deciding which financial planner firm to choose, then you should take into account the following tips!
Once you've decided you are going to join the universe of investments, it may be hard to find a suitable financial planner firm. There are plenty of options in the market, but how do you know they are good?
Although there are plenty of competent financial advisors, not every company has fitted staff to guide you efficiently through an investment. The election of a financial planner is crucial, so here are a few tips you should bear in mind before making your choice!
This is one of the main criteria a financial planner firm should meet. You surely want to look for a company that's committed to a put-your-clients-first policy and actually operate this way.
Get to know your options and leave behind those that have a difficult time limiting conflicts of interest within the firm.
Check the experience the company has in financial planning. This is essential, as it implies knowledge and leadership in the investment industry.
Usually, these types of companies have special programs to train younger advisors, so don't be afraid to analyze your financial opportunities with young planners. If the company has the experience, then they will count with efficient staff!
This industry counts with designations that certify high standard advice.
When searching for a financial planner you should check if they have a CFP designation. This is one of the most accepted mark that grants excellent general financial advice.
Although not every good advisor has this certification, it's a standard you should take into account if you are looking for serious advisors firms.
You should also check the compensation structure of your financial planner options. The industry offers many ways to pay for financial advice: commissions, fees, percentages of the managed asset.
Look for those firms that offer a fee-only structure. This means they will have a monthly, quarterly or annual flat fee.