Since this person will be so important to your financial life, feel free to be picky. We’ve put together a short list of questions to get you started in your first meeting with a potential investing professional.
What type of experience do you have?
The financial industry does not impose regulations on investing professionals in terms of experience, so you’ll need to pay attention to this answer. You want a seasoned professional, someone who has seen the ups and downs of the market. Experience in banking or as a CPA is not the same.
What’s your overall investing philosophy?
You want a professional who believes in investing for the long-term, diversification and mutual funds with a long history of success. A professional who recommends a portfolio of single stocks or other risky investments isn’t a good fit.
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The most important thing to remember is that your professional does not make decisions for you. You should feel comfortable that this person guides you on how to make smart decisions that are focused on your needs and goals.
How are you paid?
Your investing professional is paid any number of ways, so what you’re looking for is an honest answer. Your pro should be willing to explain all fees and expenses associated with the investments he or she recommends. Don’t settle for anything less.
Hiring an investing pro is a wise decision. But don’t stop there. Make sure you’re comfortable with your pro’s qualifications, philosophy and payment arrangements.
Ready to get started? Our SmartVestor Pros are committed to educating and empowering you so that you can feel confident about your investment strategy. Don’t settle for a salesperson. Our SmartVestor program makes it easy to find a local investing pro you can trust. Get a list of SmartVestor Pros in your area right now!