If there’s one piece of financial advice that can never be stressed enough, it’s that you absolutely need to have a few investments for your post-retirement life. This is doubly important for those who wish to retire early.
Practically speaking, this means you’ll need to hire professional financial and retirement planning services. A certified financial advisor can inform and guide you when it comes to implementing financial strategies and making complex investments.
And while getting into the process of finding and hiring the right financial advisor may seem daunting and tiresome, it really isn’t that difficult. There are just a few key pointers you need to keep in mind. Let’s take a look.
Choosing the Right Financial Advisor
When evaluating your options for potential financial planners, prepare yourself to ask a few important questions that will help you make a more informed decision.
Here are some critical questions you need to ask to choose the right financial advisor:
- What has your experience as an investment professional been like?
- How long have you been in this line of work?
- What sort of clients do you work for?
- How can I gain access to you when I need questions answered?
- How often can I reach you?
- How often do you reach out and communicate with clients?
Once you’ve gotten satisfactory answers for these questions, you’ll need to ask some bigger questions, like the ones I’ve detailed below.
Understand How They’re Paid
When evaluating your options, it’s important to gain an understanding of how they’ll be compensated. Do they take a fee-based approach, or are they on a commission?
There are definitely advantages and disadvantages to each approach, but what you need to look out for are any potential conflicts of interest. If they’re dodgy about how they’re paid, it’s best to approach someone else.
Understand Their Investment Philosophy
Investing philosophy is critical. When approaching a potential financial advisor, you need to gain a solid understanding of their investing philosophy. In other words, they need to be more than capable of explaining exactly what their investment philosophy is. You need to ensure that their long-term investment strategy is suited to your financial goals. They also need to be willing and open to listening to your opinions. They are handling your finances, after all.
When an advisor recommends any particular fund, a good question to ask them is whether they personally invest in the fund themselves. If they are confident enough to invest their own money in a fund, then that is a good sign.
I am an international independent personal financial advisor who has gained a wealth of experience working with numerous foreign nationals living and working in South America. If you require investment planning & advisory services, education fee planning services, income tax planning services, retirement planning services, in Santiago, and more, get in touch with me.
