How to Choose an Investment Professional
Let’s face it − talking about your financial needs isn't always easy. So it’s important to choose an investment or insurance professional you feel comfortable with.
You’ll also want to make sure their knowledge and experience is a good match for your needs − now and in the future. After all, this person will be helping you make decisions about your finances.
Ready to begin?
Start by getting recommendations from family, friends and coworkers. Who do they trust with their financial needs − and why?
Other sources for recommendations:
- Your bank, attorney or tax planner
- Internet or phone directory listings for financial services
- Brokerage firms
Plan to talk to several candidates to find the one who’s right for you.
Research your choices
Once you've got a list of candidates:
Interview the contenders. Meet with your candidates to
ask questions, and to see if your personalities click. Learn about interviewing an investment or insurance
Look for competence. Certification doesn't guarantee
competence, but professional licenses do take time and effort to
achieve. Find out if your investment professional passed
the tests for specialty designations.
Confirm credentials. Call the professional
associations your candidates mention. Verify they’re members in good
standing and ask if there are any complaints against them.
Ask for references. Asking the candidates you talk to
for references from others they work with − like accountants, attorneys
or insurance agents.
Ask how they're compensated. Typically, they’re paid
through fees, by commissions or a combination of the two. Learn how investment
professionals are paid.
- Get it in writing. Ask for a contract that lists the services they’ll provide and what you'll pay for them.
Build a relationship
Once you've found a qualified professional that suits your needs, you can start taking steps to plan for your financial future.
The professional right for you will work with you to develop a clear picture of your current financial situation and help you work toward your financial goals. By building a relationship with them over time, you’ll also be able to request annual checkups so they’ll know when your needs change and adjustments should be made.
Take the Next Step
Find out more from your investment professional.
Don’t have one? We can help you learn more about choosing one.