There are few things more valuable or hard-earned than the wealth and savings a person accumulates during their working years. You put in the time and energy to ensure that you can live the way you want to. But what about the next chapter of life?
Many people don’t have a retirement savings plan, and even fewer take action to ensure that their nest egg prepares them for the retirement they deserve. That’s why working with a trusted and experienced Financial Advisor (FA) is key to guiding you on to your next chapter. When you start your search for a Financial Advisor, here are five questions to ask yourself:
- Does the conversation begin with the Financial Advisor exploring what you hope to achieve in retirement? When most people are asked that fundamental question, they realize that they haven’t thought it through. That’s why the best Financial Advisors will guide the dialogue toward self-discovery on the part of the potential new client.
- Is the Financial Advisor demonstrating attentive listening behaviors? A trustworthy Financial Advisor should ask clarifying questions before offering a viewpoint. If you feel like you’re getting a standard “sales pitch” from the start, choose a different Advisor.
- Is the Financial Advisor being realistic? No one can predict every up and down of the market. Your Financial Advisor should have a strong background and experience in investing, but they shouldn’t overpromise. Are they conveying to you a realistic sense that there is always risk?
- Is the Financial Advisor forced to follow a path determined by their firm rather than a path determined by what is in the client’s best interest? Make sure the Financial Advisor is making the best decisions for you, not for the firm they work for.
- Does the Financial Advisor or their firm have direct control of the client’s money? Make sure your money is safe. Money handled by a third party independent of the Financial Advisor or their firm is far safer.
Finding the right Financial Advisor is one of the most important decisions you’ll make with your money. That’s why you should feel confident and prepared to make an informed decision when you begin your search. Be vigilant, curious, and don’t be afraid to ask questions – a good Financial Advisor will always listen and answer honestly.
At Arbor Financial Services, we know that every life is different. That’s why we focus on building strong relationships with our clients, making sure we’re familiar with their unique dreams, goals, and interests. Our Financial Advisors are focused on making you feel comfortable and confident. Reach out to us for an initial interview.