How to choose a financial advisor?

Professionalism, discretion and empathy are some of the conditions that should have a personal financial advisor.

If you believe that the fiscal deficit or the decision of the U.S. Federal Reserve to change interest rates do not affect your pocket, you need financial advice. Individuals are so immersed and businesses in an economic system. Like them, many macroeconomic and financial changes, national or international affect their personal finances.

Also as they should devote time and resources to conduct proper financial planning. Entire time financial decisions (sometimes complex), such as going to a bank, buy a new house, save for retirement or children's education. However, rarely plan to find the most efficient way to do it and this could cause them to lose money and opportunities. In Colombia just consult a financial advisor, who in other countries is a registered and regulated profession.

But this has begun to change on behalf of pension funds and the internet. Growing interest in the behavior of financial markets and their impact on personal finance has created a greater need for professional preparation of financial advice. Some companies are making major efforts, as the financial advisor will figure increasing relevance. But what is a financial advisor? How to choose and recognize a good financial adviser? What is and what is not a financial advisor should be like a doctor, that is, the professional and personal commitments for long-term health of the patient and his family.

The first time a doctor sees a patient, before making a diagnosis and recommend treatment, makes an initial interview to know their history, chronic conditions, habits and customs, problems, how is your family, what health problems had parents, etc.. You can also tell analyzes and studies. Once you have all the information, you can make the diagnosis: for example, heart problems.

Then tell him medication and may even ask to change their habits, will recommend a surgeon and follow its evolution before and after the operation. After a while, there will be further consultations on how to evolve your operation and how is your health. The role of a financial advisor, who can be a person or a financial institution, is to follow all these steps but to maintain the health of your finances .

A real financial advisor will focus on the objectives, financial situation and needs before the recommendations. If someone comes offering big profits and profitability eye is a seller. Many people believe that an adviser should recommend where to invest to make money quickly, as if it were a miracle worker. The financial advice is not that. It is a long-term backup plan, primarily evaluating client objectives, resources, time and the risks you are willing to assume.

Therefore, in the initial interview, the counselor will evaluate what you want against what you currently have and how they are driving. (For this, the advisor will inquire how you are managing your savings and investments, projects and future goals, what goods you wish to purchase, at what age and how you want to retire, do you think your family in case of death, inheritance, what economic future want to their children, etc..).

To get the best results in financial planning advisor is required to disclose relevant personal and financial information. Therefore, the trust should be the basis of the relationship. We must speak the truth, for the advisor knows very well your situation and needs and can make a good diagnosis. For this, you must rely on the honesty, professionalism and abilities of the financial advisor help you meet your goals in an objective .

Hence the importance of good selection and know what to look for. What To Look A good financial advisor should be comprehensive and have the ability to advise from the perspectives of savings, investment, pensions and insurance. Therefore, a good financial advisor is a very prepared and updated in many fields.

Financial Advisor The term is used by different professions, such as pension or tax consultants, who have expertise in a specific area. But you would not go for the first time where a urologist or dentist for a checkup. For this, you have the right to see if your advisor has the knowledge and experience to guide you through the world of finance. An advisor should be continuously informed about the daily events in the national and international economy, financial markets and political.

And know in detail topics pension, tax, tax and insurance. You must have a rigorous development of their skills and must be a person eager to learn. You should also know very well justify their advice and to answer any questions about it. Find a counselor who is willing to answer your questions, periodically review your goals are being met and is attentive to inform and advise you on any changes that may affect you.

If you have a good knowledge and realized their financial situation, the financial advisor will diagnosis. You may not like it, but it is always better to face it and modify it to meet. Solid arguments can convince your proposal will generate more value than their desire to guide action towards realistic goals. Who needs it? Many people do not perceive the need for a financial advisor. But the disorders of money are as a silent disease. While showing no symptoms, the person does not go to the doctor and when he goes, it's too late or very complex problem to solve.

Everyone requires a financial advisor, no matter their age or economic status. A good financial advice equals a good annual checkup. A consultant is useful in all stages of life, but especially when working life begins or when it starts to generate revenue, as it is important to establish savings and investment plans . The weather in finance is essential.