Am I Dealing with a Trusted and Independent Financial Advisor?
How can I know if I am dealing with a trusted financial advisor?
This is an important question to ask yourself if you have not done so yet. Here, we have put together a few tips on what you should look for when searching for an independent and trustworthy financial advisor.
Take a look!
What You Should Look For
Experience: You want someone who knows what they are doing. Make sure your financial advisor has the relevant level of expertise, training and education to be able to support you.
No product push: The focus is YOU and your interests, not them and their products, especially those products which only benefit them but do not suit you.
No retrocessions: The product should be the best for YOU, not for them. This means you should be getting the BEST deal, not the most expensive one. Don’t allow hidden fees to be flowing behind your back.
Focused services: Do their services really target what you need as an individual? And do you hear from them on a regular basis? Your portfolio should accommodate your life goals and needs. In addition, you have the right to know what is going on and to receive regular updates.
But beware, not all calls from your advisor are positive. If you only hear from them about the selling of their products and increasing their commissions, this should be a red flag.
Building a long-term relationship: An advisor who believes in having a long-term relationship with you, rather than merely a series of commission-generating transactions, is likely quite worthy of your trust.
Patience: Your advisor should take the necessary time to talk to you, understand you and your needs, as well as clearly explain their suggestions and inputs.
Independence is key: Simple as that. Make sure your financial advisor is independent. That means that, preferably, they have no own products or are owned by a product provider, and can choose the best solution for you.
Knowledge is power
We hope that with these tips, you now have some more power in your hands.
Keep these in mind when considering whether your financial advisor is the one for you, or when looking for someone trustworthy to manage your portfolio! If you have any other questions, do not hesitate to get in touch with our team here at Marmot. We are delighted to help you succeed.
The content in the blogs is solely for general information and to help potential clients get an idea of how we work. They are not recommendations that should lead to the purchase or sale of assets and are not investment advice. Marmot.Finance cannot judge whether and how the statements made fit your investment objectives and risk profile. If you make investment decisions based on this blog entry, you do so entirely at your own risk and responsibility. Marmot.Finance cannot be held responsible for any losses you may incur as a result of information contained in this blog entry.The products mentioned are not recommendations, but are intended to show how Marmot.Finance works and selects such products. Marmot.Finance is also completely independent and does not earn money in any form from product providers.
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educational blog posts about the finance industry & investing.