How to Choose a Financial Advisor

download

of 28

Embed Size (px)

description

In this #CreditChat, we talked with Garrett Planning, ThinkAdvisor and CFP Board Consumer Advocate Eleanor Blayney about steps to take when hiring a financial advisor. You can see the full transcript and links to resources here: http://www.experian.com/blogs/news/about/financial-advisor/

transcript

<ul><li> How to Choose a Financial Advisor #CreditChat Wednesdays | 3 p.m. ET </li> <li> Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we discussed how to choose a financial advisor. Check out all the resources and tips shared: bit.ly/financial-advisor </li> <li> Finances are very personal - hard to find trustworthy people to share intimate details with. #CreditChat Tweet by @iGrad RETWEET THIS </li> <li> Even financial advisors should have an advisor ... doctors still have doctors, after all Tweet by @ThinkAdvisor RETWEET THIS #CreditChat </li> <li> When do you think someone should see a financial advisor? Wednesdays | 3 p.m. ET #CreditChat </li> <li> Its never too early to start planning - even if you can only take babysteps. Tweet by @ReadyForZero #CreditChat RETWEET THIS </li> <li> Seeing an advisor is just like seeing a doctor: go when you are financially sick or when you need a check-up. Tweet by @EleanorBlayney #CreditChat RETWEET THIS </li> <li> Age doesnt matter. Tweet by @IdiyaConsulting #CreditChat RETWEET THIS When you want to set yourself for success financially ... </li> <li> The best time to see a financial advisor is yesterday. Tweet by @csmithraleigh RETWEET THIS #CreditChat </li> <li> Time to reach out when you first begin having financial concerns. Tweet by @nfccdebtadvice RETWEET THIS #CreditChat Financial problems dont cure themseleves. </li> <li> What questions should you ask when choosing a financial advisor? Wednesdays | 3 p.m. ET #CreditChat </li> <li> Main question to ask when choosing a financial advisor: Tweet by @AARPMoney RETWEET THIS How are you compensated? #CreditChat </li> <li> Ask certifications, affiliations, length of practice, expertise and fees Tweet by @iGrad RETWEET THIS #CreditChat when recruiting a financial advisor. </li> <li> Ask for references from satisfied clients. Tweet by @MoneyCrashers RETWEET THIS #CreditChat </li> <li> The SEC has a good list of questions to ask about advisors. Tweet by @ThinkAdvisor RETWEET THIS #CreditChat VIEW QUESTIONS </li> <li> What types of qualifications and experiences should a financial advisor have? Wednesdays | 3 p.m. ET #CreditChat </li> <li> A legitimate agency is always more interested in your bottom line than theirs. RETWEET THIS #CreditChat Tweet by @nfccdebtadvice </li> <li> Not all certifications mandate that financial advice must be in clients best interest RETWEET THIS #CreditChat Tweet by @AARPMoney Ask about fiduciary duty. </li> <li> What are red flags to watch out for when meeting a financial advisor? Wednesdays | 3 p.m. ET #CreditChat </li> <li> RED FLAG: When financial advisor talks only about his credentials RETWEET THIS #CreditChat Tweet by @EleanorBlayney and does not inquire about your needs and wants. </li> <li> Disorganization and being made to feel like they dont have time for me. RETWEET THIS #CreditChat Tweet by @MoneyCrashers </li> <li> Financial Advisor Red Flags: commission only, does not disclose potential bias Tweet by @iGrad #CreditChat RETWEET THIS </li> <li> If they state they dont/wont have a fiduciary duty to you. Run! RETWEET THIS Tweet by @WealthHike #CreditChat </li> <li> No accreditations and not willing to be honest with someone about their finances RETWEET THIS #CreditChat Tweet by @PlutusAwards </li> <li> Any final tips for those looking for a financial advisor? Wednesdays | 3 p.m. ET #CreditChat </li> <li> Spend as much time choosing an advisor as you do planning a vacation! RETWEET THIS #CreditChat Tweet by @EleanorBlayney Interview at least 2 or 3 </li> <li> Join Us Every Wednesday at 3 p.m. ET. bit.ly/join-creditchat #CreditChat Wednesdays | 3 p.m. ET </li> <li> Check Out Past Slides ... </li> </ul>