4 ways to make sure you choose the right financial professional for you

Choosing a good financial professional could be the most important financial decision you make during your lifetime. A financial professional can help you manage your money and grow your wealth using the best savings and investment vehicles available to you.

With so many candidates from which to choose, the decision can be difficult and lengthy. If you are looking for guidance from a professional financial professional but do not know how to find someone who can meet your needs, these tips can help.

Look for experience and credentials

When searching for a financial professional, be sure to inquire about their experience and their credentials for the job. Anyone can say they’re a financial professional, but that does not mean that they have the education or experience to back up the claim.

You will want to find someone who is certified; to be certified, they would have to have passed rigorous standardized exams on managing personal finances. You can also review the financial adviser’s background and designations at the SEC and Financial Industry Regulatory Authority websites.

Ask for a face-to-face meeting

In order for the relationship to work, you need to feel as if you can trust your financial professional and be confident that they are working in your best interest. This relationship can be established through face-to-face meetings and candid discussions about your finances and plans for the future.

Remember that you will depend on this person during times of financial insecurity, and you will be depending on their advice to increase your wealth. If you do not feel comfortable talking to the person after your face-to-face meeting, you need to continue looking for someone that you would feel comfortable with.

Look for red flags

You will want to choose a financial professional with a clean record and a good reputation. If a number of complaints have been issued against the person you are considering, that is a red flag to look elsewhere.

It can be hard to find information about whether that person has had problems with regulators or clients in the past, but you can often obtain information about certified financial professionals from the SEC via their website.

Check their references

Ask for references from potential financial professionals and check them. You might be able to learn more about their abilities and strategies from other financial professionals with whom they have worked. If their references check out and you are confident in their abilities after your face-to-face meeting, there is a good chance that you have found the financial professional for your needs.

This article was written by Robyn from Engineer Your Finances and was legally licensed through the DiveMarketplace by Industry Dive. Please direct all licensing questions to legal@industrydive.com.