Finding the right independent financial adviser for you is important. You don’t want to engage an adviser only to later feel as though you want to make a change. Getting the right person from the start will save you both emotionally and financially.
There are two areas of ‘fit’ that are essential for having a long-term, successful relationship with an adviser:
Investment philosophy.
There are many different philosophies and methods of managing investments and providing financial advice. You want to find an adviser that shares your investment philosophy and thinks about investing and markets the same way that you do. Of course, you want your adviser to have – and can articulate well – a clear set of investment beliefs and methods. If the adviser does not have a clearly defined view or cannot communicate it well, you should look for a different adviser.
Personal connection and trust.
You will be establishing a close working relationship with your adviser – sharing important personal information (both financial and emotional) about yourself and your family. To do the job best, your adviser needs to know you well. In addition to the financial facts, the adviser needs to understand your feelings about money, and your dreams and aspirations for the future. Do not engage an adviser you don’t feel comfortable sharing this information with.