How to Evaluate Your Financial Planner


Having the guidance of a professional when you are investing or plunging into a new business venture can be a major help in managing your finances as well as generating maximum profit and income.

A good financial planner can assist you and point you in the right direction, while bad planning can not only cost you a lot in the course, but may also result in a major loss at the end.

Therefore, it is important to evaluate and judge your financial planner as thoroughly as possible.

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Before Hiring

Qualification and Client History

The qualification of your selected financial planner or advisor is the basic gauge you can use to evaluate them. A highly qualified and registered planner with a good corporate background and history can be a safe bet and can ensure a smooth and satisfied relationship.

Therefore, research and ask around about your financial planner prior to engaging him in your service.

Fees and Consultation

Whatever fees and consultation charges your planner is asking from you, it is a good idea to confirm it in the market so that any chances of overcharging are reduced and you do not end up paying more than what is required.

Also discuss and confirm how much work and planning you require for your investment and how much fee you are going to pay before the start of the engagement.

After the Engagement Ends

Personal Dealing and Behavior

A healthy, honest and trustworthy relationship with your planner is the key to fruitful results. Make sure your planner is honest and reliable and does not involve foul play and dishonesty in the dealings.

The best planners keep you in confidence and discuss finer details of the investment of your choice before making it final and closing the deal.

Results Achieved

The results that you achieve on your investment are the living proof of the authenticity and competency of your financial planner.

If you have encountered minimal losses and a great deal of profit and revenue from your financial engagement, then it means that the planning and strategy of your planner was discreet, beneficial and targeted.

How Much Money Is Saved?

The money and resources you save at the end of the day are the true results of your investment. If you end up spending more than you had invested then this is most likely the result of inefficient planning and timing of your financial advisor.

Therefore, calculate how much you spent and what were your investments. Also compare the fee you gave to your planner and how much you saved in this aspect as compared to other advisors in the industry. This will give you a better understanding of whether the planning was worth the results or not.


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