What to Know Before Hiring a Financial Adviser

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Post on 21-Apr-2017



Economy & Finance

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#CreditChatWednesdays | 3 p.m. ETWhat to Know Before Hiring a Financial Adviser Featuring Certified Financial Planners: @R_Alan_Moore, @KatieYRL, @WrenneFinancial, @Marybstorj and @SophiaberaJoin our #CreditChat every Wednesday at 3 p.m. ET. This week, we talked about steps to take before hiring a financial planner.Check Out All the Tweets and Resources:ex.pn/adviserhttp://www.experian.com/blogs/news/about/hire-financial-advisor/Wednesdays | 3 p.m. ETWhy have many people never seen a financial adviser?#CreditChatMany people never see financial advisers because of lack of awareness, cost, or apathy toward financial matters. Tweet by @GraceKvantas#CreditChat Tweet by @Sophiabera to work with a financial planner.Many people dont think they have enough money #CreditChatWorking with an advisor also means being ready for change and exposing bad habits, which can be a tough pill to swallow. Tweet by @Marybstorj #CreditChatWednesdays | 3 p.m. ETWhy is seeing a financial counselor helpful? When is a good time?#CreditChatWhile most people wait until theres a problem, you can really go at any time. In fact, its better to go BEFORE trouble. Tweet by @LeslieHTayneEsq #CreditChatPeople dont plan to fail, they fail to plan! A planner will help you get it done. Tweet by @WrenneFinancial#CreditChatAny time is good to meet with a planner -- Facing life transitions, tackling debt, figuring out employee benefits, goal planning. Tweet by @Marybstorj#CreditChatWednesdays | 3 p.m. ETWhat types of qualifications and experience should an adviser have?#CreditChatLook for a financial adviser who is a certified financial planner (CFP). Theyre licensed and regulated, plus take mandatory classes on different aspects of financial planning. Source: The Wall Street Journal#CreditChatLook for an advisor who specializes in clients like you. Tweet by @ErikOKlumpp#CreditChatWednesdays | 3 p.m. ETWhat types of financial advisers should you avoid? Any warning signs? #CreditChatIf you feel like youre being pushed, sold or talked down to,run away and find a better advisor. Tweet by @KatieYRL#CreditChatAvoid any advisor who does not have a clear, transparent fee structure and who will not work as your fiduciary. Tweet by @XYPlanning #CreditChatWednesdays | 3 p.m. ETWhat services do financial planners offer?#CreditChatOrganization - Accountability - Objectivity - Proactivity - Education - Partnership Tweet by @WrenneFinancial#CreditChatBudgeting help, debt repayment plans, maximizing companybenefits, choosing 401(k) investments, goal setting and more! Tweet by @Sophiabera#CreditChatWednesdays | 3 p.m. ETHow are financial advisers compensated for providing services?#CreditChatGood financial advisors should only get paid by you (the client) directly through fees. We call that being fee-only. Tweet by @R_Alan_Moore#CreditChatKnow the difference between fee-only and fee-based. Fee-onlyis paid by YOU. Fee-based can also receive outside commissions. Tweet by @ErikOKlumpp#CreditChatWednesdays | 3 p.m. ETHow can you make sure a financial planner is a fiduciary?#CreditChatQuestions to ask your financial adviser:- Are you acting under fiduciary standard?- Can you put that in writing?Source: Bankrate#CreditChatAsk a planner to sign a fiduciary oath. All #XYNP Tweet by @XYPlanning advisors have taken an oath.#CreditChatWednesdays | 3 p.m. ETHow often does a person need to see a financial adviser?#CreditChatThis usually depends on the person, but I think quarterly or semi-annually is sufficient. Tweet by @LeslieHTayneEsq#CreditChatWednesdays | 3 p.m. ETAny final tips on how to find a great financial planner?#CreditChatInterview a few different people. There are many great planners out there, but it often comes down to a personality fit. Tweet by @Sophiabera#CreditChatWorking with a Financial Planner is a relationship. Approach the search like you would a partner. Tweet by @ErikOKlumpp#CreditChat#CreditChatWednesdays | 3 p.m. ETCheck out all the resources and tips shared:ex.pn/adviserhttp://www.experian.com/blogs/news/about/hire-financial-advisor/#CreditChatWednesdays | 3 p.m. ETJoin Us Every Wednesday at 3 p.m. ET.bit.ly/join-creditchathttp://www.experian.com/blogs/news/about/creditchat/Subscribe & Check Out:http://www.slideshare.net/Experian_US/save-money-or-pay-off-debt-37519531http://www.slideshare.net/Experian_US/save-money-or-pay-off-debt-37519531http://www.slideshare.net/Experian_US/save-money-or-pay-off-debt-37519531http://www.slideshare.net/Experian_US/summer-scamhttp://www.slideshare.net/Experian_US/summer-scamhttp://www.slideshare.net/Experian_US/financial-tips-for-military-familieshttp://www.slideshare.net/Experian_US/financial-tips-for-military-familieshttp://www.slideshare.net/Experian_US/how-to-strategically-manage-and-pay-off-debthttp://www.slideshare.net/Experian_US/how-to-strategically-manage-and-pay-off-debthttp://www.slideshare.net/Experian_US/how-to-juggle-debt-retirementhttp://www.slideshare.net/Experian_US/how-to-juggle-debt-retirementhttp://www.slideshare.net/Experian_US/how-to-throw-a-fun-dinner-party-on-a-budgethttp://www.slideshare.net/Experian_US/how-to-throw-a-fun-dinner-party-on-a-budget