- by Net Pro Referral
- 25 May 2017
Tips To Consider While Selecting Financial Advisor For Your Business
A financial advisor is a person who helps you set financial goals for your business and build a plan to reach them. The most important thing you need to consider while choosing a financial planner is: select a person that suits you and your business. Here are some tips that can make your decision easy:
1. Ask for referrals: Once you have decided to hire a personal financial advisor for your business, it is the time to select an advisor who provides the exact services you are searching for. You can ask your family, friends, lawyer, accountant, or other trusted people for their suggestions.
2. Look for education and experience: Review educational background and experience of the prospective advisor. Know how that person can help you in your business with the financial situation. Make sure the person has enough knowledge and experience to run your business smoothly.
3. Check financial advisor register: Once you have a list of shortlisted advisors, check their qualification, history, and current employment status before you approach any of them. Also, ensure that your financial planner is licensed to offer the services. The register should tell:
*Financial planner’s qualification, employment history, and experience.
*In which areas he has an expertise and the type of advice he can provide you.
*Whether he is a member of any industry associations or professional bodies that are relevant to the financial services.
*Details about who controls or owns the license holder, and much more.
4. Get a financial services guide: Read the FSG (Financial Services Guide) of financial advisors you are considering. Find the guide on their website or ask for a copy. The guide will tell you:
*What services they provide
*Their fee structure
*License number, etc.
5. Check the financial planner fees: For a rough idea, you can ask the advisor for the cost of the advice. An estimate can help you calculate how much you’re going to pay for the service. A financial advisor can charge on the different basis:
*Fixed price basis
*Assets under management fee
These are some of the best tips for finding a reliable personal financial advisor for your business. All advisors are not equal; a bad financial planner can charge you more. Take your time and find an advisor who can help you achieve your financial goals effectively and efficiently.