Choosing a good financial adviser can be hard work. You’ll want to get references from your families and friends. Ask lots of questions, ask about their training and education.
And once you’ve found a good consultant to help you with your finances, you can watch out for warning signs that they’re looking out to pad their own pockets rather than helping you. From The Sun’s Financial Diary, we have a list of signs that you need to run away from your adviser, including:
If you have your choice, you’d prefer to work with a financial advisor that charges you based on the time spent with you or as a percentage of the assets that they are managing for you versus the commission they can earn on what they sell you. An advisor who gets paid based on the size of your portfolio has an incentive to grow it which is good for both you and them. A sales-based advisor can be more concerned with just selling you a high commission product that may or may not be suitable for you.
Read the whole article… good advice!
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