How Can You Choose the Right Advisor?

Investing doesn’t have to be all done by yourself. It’s a great idea to work with a financial advisor, who are subject matter expert and who can be of critical value when it comes to managing your money.

Choosing the right advisor is a very important aspect of investing, as it can greatly impact your long-term financial health. Just as a doctor ensures your physical well-being not just by providing expert medical services when you are ill but also by supporting your long-term physical health by advising you in making the right lifestyle choices, and exercise and diet selections which are best suited to your physiology and genetics, a financial advisor, similarly, should be someone you can trust to have your best interest at heart, and is not the same as a financial agent or who is selling financial products.

Some people seek financial and wealth management advice from their bank managers, CAs and tax advocates assuming them to be the right persons for this. Taxation, Banking, etc are all important yet entirely different services. In contrast, wealth management professionals provide a specialized service that includes helping you define, plan and achieve your life’s financial goals. Each of us has different life milestones and to achieve them requires proper financial planning.

A good financial advisor would generally encourage discussions and point you in the right direction, after having clearly articulated your risk profile, investment preferences and the life milestones to cater for. This will allow you to make time and focus on your core competencies, in turn giving you the opportunity to realise your financial potential and freedom.

Happy Investing!