What a scary undertaking!
Meeting someone for the first time, that you have to open up to.
Sharing your success or failure up to this point in your life.
Revealing your inner dreams of where you want to be down the road.
It’s almost like becoming naked on a first date.
It is so intimidating that most individuals actually avoid going to see any advisor.
Soooooooo, muster up the courage and begin by deciding on the company you feel you can trust.
Points to consider:
- How long has the company been in business ?
- Have you heard positive things about the company ?
- Is it necessary to have oodles of money to be considered a client or will you be treated with respect regardless the amount of your wealth ?
- Would you prefer to meet with a female investment advisor or a male ?
- Is your advisor’s compensation (A) based on commissions earned each time he/she buys or sells for you ?
- Is your advisor (B) paid a fee based on assets within your portfolio regardless whether he/she buys or sells for you ?
- Can you choose the compensation method, either (A) or (B) ?
- Is your advisor compensated with a salary and bonuses regardless of whether you invest with him or not ?
More points to consider:
- Do you feel comfortable within his/her presence ?
- Does he/she smile and seem pleased with his/her work environment ?
- Do you feel you can trust him/her and he’ll remember who you are and what your goals are ?
- Did he/she offer to make up a written financial plan as to how you can accomplish those goals ?
Remember, you’re the customer.
You’re the client.
You want and expect good service.
Ideally there’s a real person at the other end of the phone rather than recorded instructions when you call the firm (during business hours).
You want to be able to get through to your advisor or know that your call will be returned within a reasonable amount of time.
If you make your decision using the above criteria, I’m sure your choice will be a positive one.
Remember, every long journey begins with the first step.