Hiring a financial planner is like hiring a chief financial officer for you or your family, and you definitely would like to find one that is knowledgeable and expert. We’ve gathered a few tips that may be helpful to find the best financial planner for you.
- Knowing what a financial planner is
The terms of “financial planner” and “financial advisor” usually appear at the same time like twins. While the difference between the two is minor but it does not equal to non-existence. You could recognize a financial planner is a type of financial advisor, who focuses on all aspects of your financial life such as how much to save and what type of insurance you need beyond investments alone.
- Find financial planners with reputable credentials
A qualified financial planner shall at least possess some credentials to demonstrate his/her training and educational background. And if you are looking for one that is knowledgeable and expert, a reputable credential may better help you to target the right candidate.
- Know how financial planners are compensated
The charging scheme of a financial planner may vary a lot, but the most objective and unbiased financial planners are fee-only. And only in such a way could your interests be maximumly protected and have the financial planners stay professional.
- Do your own due diligence before hiring a financial planner
Always keep in mind that your task is to find a knowledgeable and expert financial planner to work out strategies about how to better manage your money. Therefore, your due diligence shall focus on matters that will affect their knowledge base and expertise, including the track record, charging scheme, strengths, etc. And the more you communicate with your candidates, the better you will comprehend.
- Stay alert of potential fraud risks
While hiring a financial planner means that you shall trust his/her expertise and professionalism, you might as well stay alert of any potential fraud risks. Most expertise financial planners will use what is called a third-party custodian to hold your assets. That means your accounts would be opened at a large, well-known firm that reports transactions to you, verifies signatures, and much more.
Above are all you need to know whining find a knowledgeable and expert financial planner. And Cedrus Group, a global boutique investment firm headquartered in Hong Kong and Zurich, founded by sophisticated investment veteran Mr. Rani Jarkas, is always at your service and relentlessly committed to provide clients with solutions that enable them to meet their financial goals.