Business

How To Find A Financial Advisor

There are several tips that you can use in order to find a financial advisor in Kansas City.

Credentials

The first tip is to make sure that you look for someone who has a good reputation. This means that you will need to look for someone who has their college for professional training or the personal financial specialist training. A person will be able to get these credentials by passing a test that demonstrates their knowledge that they have about the particular subject. But the person will also need to continue their education so that they can keep their credentials.

Money

The second tip is to know how the financial advisor in Kansas City will be compensated for the work that they are going to do for you. There are a variety of different ways that they are going to get paid. Some of these ways will include an hourly fee, an asset based fee, commissions, or an hourly rate. This means that you will need to know the difference between a fee and non fee only advisor. The non-fee-only will receive incentives from the company if they are able to meet the goals or objectives of the company.

Search Engines

The third tip is to use the different search engines so that you can screen out your criteria. You can search by your zip code in order to find the person who has the right credentials for your needs and the billing structure that will work for you. But when you are looking for a location, it is important to remember that a lot of firms are going to work with their clients remotely. This means that you will be able to pick the person based on their expertise instead of having to get one based on their location.

Questions

The fourth tip is to make sure that you ask a lot of questions before you hire them. This will help you to weed out the ones that are not going to communicate very well with you. But it is important to make sure that you understand all of the answers to the questions that you are asking the person. But if you don’t, then it is definitely okay with you ask follow up questions that will help you to understand them better. It is also a good idea to ask the person for some references that you can talk to later.

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Complaints

The fifth tip is to make sure to verify all of the credentials that the person is going to have. It is very important that a person is legitimate before you hire them. This means that you will also need to check for complaints and make sure that they have a good service record. You can do this through the Financial Industry Regulatory Authority, the CFP Board, and the Security and Exchange Commission. This will include any of the membership organizations that the advisor might be associated with at the time of the visit.

Fraud

The last tip is to make sure that you learn how to spot any of risks of fraud. If you have a reputable financial advisor, then they are going to use a third party custodian that will hold your assets for you. This means that all of your accounts will be opened at a larger well known firm like Fidelity. This allows the advisor to place the trades and offer services into the account, but the custodian will be the person who is reporting the transactions to you and verifying all of the signatures in the paperwork for you.

About the author

John Winer

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