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How to know your financial advisor’s experience

George Sterling | Thursday, November 15th, 2012

There used to be a time when financial planners were professionals who people could blindly trust and hand their finances, but now days it is quite hard to find a financial planner who really is a professional in his field. When you go and look out for financial advisors these days, it is highly likely that you will run into someone who is merely a salesperson is trying to get hold of your assets for the company he works for. These salespersons will often never look at your financial standing or how much money you hold or the risk that you are ready to take, instead they will put you in a tricky situation with lots of decisions to make and fee to pay.

Salespersons posing as financial advisors are most likely not even capable of handling finances themselves. These people rely on the company they are working for and will only try to score a good commission out of you. You can easily know a person is posing as a financial advisor if he doesn’t even look at your financial standing and just adds some numbers on his computer. If he is just adding numbers on his computer, then it is better off that you do that yourself by going to a website that works in this field.

When you are selecting a financial advisor, dare to look at their experience in the field. Do not hesitate to research and find out the success rate of the person you are about to deal with. It is better to work with a veteran financial planner than to just hire someone who poses as a financial planner. These people will only get you into their company’s proprietary program that works with your risk tolerance level and the amount of assets you hold. In this scenario, you rarely will have a choice to decide anything for yourself.

If you still do not find the time or effort to search for a reasonable financial planner, it is highly recommended that you use an online financial planning program to help you out. You can also use this information you get from an online financial planning program to counter the things that these salespersons tell you. This will help you know if you are dealing with the right kind of people.

Be aware that these people who pose as financial planners are very good at their sales skills and will most likely convince you that they know everything in the industry. The reality is that all they have is a very good network of people they are working with. Giving your finances to someone like this will put your future out of your hand and into their hands, so please reconsider before you sign a deal with someone.

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