Keys to choose the best financial advisor

Posted by tmmaria on February 23rd, 2019

The financial advice as an intermediary is paramount in a family or company if we need help or advice on issue financial. These individuals help companies or individuals to make transactions, create strategies to achieve their objectives or ensure the profitability that we have raised.

Obviously, this is not done for free, because they usually take a percentage or commission or receive an income for the advice they perform. Hiring a financial advisor correctly is convenient to avoid wasting money. Today, we will tell you some keys to be able to choose the top rated financial advisors. If you want to choose efficiently that person who helps you in your investment strategies, continue reading.

Points to choose the best financial advisor

If you are thinking of having the services of an advisor, you should take these aspects into account when hiring:

  • The best financial advisors are registered in the National Securities Market Commission. Being admitted to this community or having official certificates that certify the position they are going to exercise is a plus when it comes to being chosen as a candidate.
  • Finding references from our advisor is also important. Knowing with which clients you have worked, how you have done it, together with whom, what position you held, in what projects you were present, etc. Searching your name on the Internet can help us find that information easily, or even by searching for it on LinkedIn. His career weighs a lot when choosing one or the other. Know in projects that you have had a word, too.
  • Making a selection among the possible candidates can be decisive. If after looking for several profiles we do not opt ​​for any, we must choose one among all so you can do the job correctly. For this we can use personal interviews with these advisors and know firsthand how they are handled or how they act on certain occasions.
  • The way we will pay our consultant is crucial at the time of choosing it. There are some who do not agree on the way we will pay and, if there is no other option, we should discard it as a possible advisor. Among the most common forms are fixed payments, determined by both parties; the salaries, which will vary depending on the month in which we find ourselves, as well as the objectives that are reached; and, finally, through commissions that will depend on the objectives that are achieved and the available portfolio or quantity obtained by the company.
  • Efficiently communicate the results achieved and not achieved to the managers in charge, as well as the different departmental areas within the company so that they can collaborate in jointly achieving what has been proposed.
  • Must be flexible in terms of availability for our company, reliable not to relieve certain technical or financial aspects of our company compared to another and, finally, be oriented to achieving their objectives to set goals and to comply with them.
  • Have administrative skills. This involves both technical activities (such as Office programs), as well as sufficient ability to respond to the needs of the organization in the position it holds.
  • Understand the financial ignorance of the rest of the organization. If a financial advisor understands some aspects perfectly but some of his colleagues do not, he should be understandable with those who are not and help as much as possible so that he has no doubts about it.
  • Know how to work in a team to generate the opportune objectives and generation of joint benefit that the organization wishes. The respect with peers is also important: accept diversity of opinions as much intraorganizational staff is of paramount importance to this aspect is fulfilled.
  • Have a vocation and enthusiasm for what you do, because if you do not put effort into achieving your goals, they will never be achieved.
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