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  • 19 Dec 2017

How Do You Know You Can Trust Your Financial Advisor?

Financial Advisor

Financial advisors have to be trustworthy. You cannot depend on somebody with the earnings of your life if you do not know he is trustworthy or not. Now a question arises, how do you know you can trust your financial advisor?

Criminal History Checks:

This should be the first step before hiring a financial advisor. If the person you are considering as your financial advisor has a criminal record, you must know it beforehand. Do the necessary checks to know if you should judge the person at any new light.

Check Competence:

You can never trust somebody with a work they are not good at. The work of a financial advisor is too important to be neglected. You can let somebody handle your finances only if are confident about his/her competence in the field. You can check for information on financial advisor directories to know about their skills, experience and academic qualifications.


In order to know if the person you are considering as you financial advisor is honest or not, cross-check information he provides about himself. Honesty is a big pre-condition in any financial advisor. And by cross-checking beforehand you can know if you can trust your financial advisor.


If you have to trust someone with your finances they also have to provide transparency about themselves. They must not hide things from you in order to gain your trust. Check if they are transparent and forthcoming with information that you have not asked about. You never know what information about your financial advisor might be of importance in considering him as one or in the future.


Conflict of Interest:

Check for any conflict of interests between you and other clients or firm. You cannot trust your financial advisor unless you have made sure that other people he/she is representing do not have any conflict of interest with you.

Question If They Meet The Expectations Set:

They must have presented a set of qualifications, experiences and abilities in front of you for their business. Do not take them at the face value. Check and double check to see if what they show is also what’s real. Besides, you also see some of their previous work history to know whether they fulfill the expectations of their clients.

Strategies on Trial:

Give their strategies a try initially without taking much risk with your finance. Try to know whether the strategies they suggested worked as explained. This will help you see if their strategies are any good and make you realize if you want to go with the person as your financial advisor.

Online Recommendation:

In order to know if you can trust your financial advisor, you can also check online recommendations. Trustworthy sites such as NetProReferral provide you with personal experiences and expert referrals based on personal experiences of other professionals. The ratings in such sites and LinkedIn profiles are most often proved trustworthy.

Hiring a financial advisor is no joke. Getting a wrong one will only bring problems. And the first quality of a good financial advisor is trustworthiness. Following the above-mentioned ways, you can know if you can trust your financial advisor or not.

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