Most people, at some point in their lives, will need financial advice. When the time comes for you to reach out to a professional financial advisor, whom should you trust? How can you be sure that the financial advisor you choose has your best interests in mind? How do you know that your money is in good hands?
Unfortunately, there is no way to ensure your money is 100% protected. But you can take the following steps to help protect yourself from financial fraud.
1. Take Responsibility: You are hiring a financial ADVISOR. You are still in control…never forget that.
2. Choose Carefully: Your financial advisor will have access to your personal finances, so be sure you choose your financial advisor carefully. An important part of making your choice is to meet candidates in person. Never hire a financial advisor without first meeting face-to-face.
3. Check the Advisor’s Background: Check to be sure the advisor is a Registered Investment Adviser (RIA), and ask to see form ADV, which details any history of regulatory problems and outlines the advisor’s experience and practice methods. Also, references are a good indicator of a financial advisor’s professionalism…so do not be afraid to ask for references.
4. Listen Carefully: Listen to what your potential financial advisor has to say. They should set realistic goals while outlining potential risks. Remember, if it sounds too good to be true, it probably is. Try and avoid financial advisors that make outlandish claims about making you tons of money.
5. Evaluate Concerns: Your financial advisor should be concerned first and foremost with your financial well being.
6. Understand Payments: Do you know how you will be charged? If not, ask. Ask how you will be charged (commission, hourly fee, flat fee or a combination) now and in the future.
7. What is the Advisor’s Specialty? Be sure that you choose a financial advisor that can best work with your portfolio.
8. Be in Control: Do not sign any documents before reading them thoroughly, and never sign blank documents. And consider carefully before giving your financial advisor power of attorney over your finances.
9. Be sure to Receive Statements: Stay in the loop and make sure your financial advisor sends you regular statements regarding your finances.
10. Keep Up: You should receive regular updates from your financial advisor, as well as from the companies where you have investments or insurance. Remember, it is YOUR money. Make sure you know what is going on!
11. Trust Safe Retirement Solutions: Safe Retirement Solutions’ financial advisers help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.
For professional financial advice, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!