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Senior Retirement Tips :: Personal Financial Planners
Personal Financial Planners: Questions You Should Ask Prospective Personal Financial Consultants or Planners
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Personal financial planners can be a great way to manage your investments if you don't have the time or knowledge to do it yourself.
However, before you put your trust and your money with a personal financial planner, you should do a thorough evaluation of a prospective professional.
Keep reading for some important questions you should ask any personal financial planners before you hire them.
Can you provide references?
Good personal financial planners will be able to provide you with references to satisfied past customers or clients.
If a prospective personal financial planner is unable to provide you with a reference, a look elsewhere.
An injured yearly reference, ask how satisfied they were with the personal financial planner’s performance. This applies to both their financial performance and their customer service.
Can you say any money on my taxes?
Good personal financial planners won't just recommend investments or retirement savings options, they'll also plan investments to save you money on your taxes now and later.
Ideally, your personal financial planner will also have a thorough understanding of your tax situation and the current tax laws.
What is your best client success story?
By asking for a personal financial planner’s best client success story, not only will you get an idea of their best investment strategy for retirement, you'll also see how they work.
You’ll get a feel for what makes them passionate and how they interact with their clients.
A personal financial planner who is unable to give you their best client success story either doesn’t have one or isn’t truly invested in their clients enough to follow up or track their progress.
What has been your biggest mistake and why? What did you do to correct it?
Everyone makes mistakes, even the best financial planners. Often, with money, it's not about if you're going to make a mistake, but when you're going to make a mistake.
What's important is whether your financial planner can react to those mistakes and correct them quickly.
Experienced personal financial planners will also have learned from past mistakes, meaning they're less likely to repeat them. Ideally, you want to hire someone that's experienced for this very reason.
Please give me an example of one fund or stock you would recommend.
While this may seem like you are asking for free advice, this can be a great way to find out if your prospective personal financial planners are on top of the market and current events.
If they're willing to recommend one fund or stock, take that information and look it up yourself. How is that stock performing? Why would they recommend it?
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SeniorRetireTips.com :: Personal Financial Planners