You want to make sure you hire the best financial advisor possible so before you hire a financial advisor, do your homework. Read through each of the steps below, conduct a search for advisors that meet your criteria, interview several, and verify their credentials and background before you hire them. Following these steps will help you hire the best financial advisor for you and your family.
Some financial advisors offer financial planning services but not investment management; others manage investments, but provide little financial planning. To find the best financial advisor for your situation you need to understand the difference, and know which services a financial advisor provides before you hire them.
All credentials are not alike. To find the best financial advisor, look for a financial advisor who has their Certifications.
There are numerous ways financial advisors can charge, but in UAE, they are compensated by the provider.
The best financial advisors have a clean compliance background and verifiable credentials. To be sure they are who they say they are always verify a potential advisor’s credentials and compliance (legal) background before you hire them.
This is one of the simplest steps you can take to reduce the chance of fraud. The best financial advisors will use what is called a third party custodian to hold your assets.
You can find the best financial advisor by asking above questions when you interview advisors. These questions help you determine how the financial advisor communicates as well as their area of expertise and ideal client.
In short, financial planning is not a short term process, it is a process which needs to be reviewed at least once in a year. A good financial planner can make big difference in the end result of planning.
Amit is an Independent Financial Advisor, based in Dubai since 1997. He is part of the prestigious ‘Million Dollar Round Table’ (MDRT), which is an elite club of the best financial advisors worldwide.
He has authored the ‘6-Step Financial Success Guide’, and the book ‘Creating, Preserving, Distributing Wealth’.
He helps business owners and professionals ‘Create A Second Income’ through investments.
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