3 questions you must ask your financial advisor

Making money as an employee, employer or solo-preneur is not an easy task. It will require smart work, hard work, time and effort. And when you have worked hard to earn salary or income, you will want to invest part of it if you are from the school of thought that believes it is important to invest part of your hard earned money. However, before you put your money into anything tagged investment portfolio, you need to speak to a financial advisor.
A financial advisor is like your regular doctor who will prescribe a drug to cure an ailment. He or she can also be likened to a coach that will inspire, motivate, encourage and advice his team of players before a game. Your financial advisor is more of a catalyst, a chemical substance that will quicken the rate of chemical reaction without altering the reaction or itself. Here is a better definition of a financial advisor.

A financial advisor is simply a professional who provides financial services to clients. Such can render services from income tax preparation, investment management to estate planning. However, before you decide to employ the service of financial advisor, there are three important questions you

must get accurate answers to or you will become like that stupid steward, in the Holy Writ, who buried his master’s talent. He was able to dig it [the talent] out of the ground and returned it to the master. If you invest your money without getting accurate answers to the three most important questions from your financial advisor, your money will disappear forever into the investment world! So, ask these three questions or ignore them at your own peril.
Question One: Ask for the advisor’s qualification: We have lots of people who probably read self help financial books like that of Robert Kiyosaki’s and the next day, they have a shingle hanging in front of a place tagged office and a fine business card that they are ready to thrust into the hands of everyone they meet. No doubt, they have the knowledge, but it is important they also have the qualification. The qualification at least will help you know that you are not dealing with a quack. I bet you won’t let a quack doctor give you an injection. Why I may not be able to mention the appropriate qualifications in this article, it is important that you confirm and be assured that your financial advisor is certified.
Question 2: How experience is he or she? In this information age, becoming certified as a financial advisor is just a click of the mouse. So, knowing that your advisor is certified is not enough; you need to know how many years experience he or she has. Qualification is important, but experience is necessary. Again, you don’t want to throw your hard earn money into the hands of someone who is experimenting with you. I bet you are not a lab rat or a guinea pig and you don’t want someone treating you as such. Now, I am not saying a fresh certified financial advisor cannot open his or her door for financial consultation, but I am saying you will want to put your money in the hands of someone who has experience. You will want to put your money in the hands of someone who had made several financial mistakes, someone who had failed and eventually had mastered how to invest money without incurring unnecessary loss.
Question 3: Who are his or her notable clients? Clients are those your financial advisor had worked for. I am not saying you shouldn’t patronize a fresh certified consultant, but it will be unwise to be the guinea pig for such an advisor. I bet you won’t want an inexperience pilot to fly your plane? Would you? Then, it is not advisable for you to gamble with your money; you are playing a lottery, you are investing for profit. And that is why you need to know, call or have a meeting with some of the notable clients your potential financial advisor had worked for. You need to be sure that, at least 70% of them received sizeable returns on their investments. Of course, you will have some clients who don’t have good report about your financial advisor, but majority of the clients must have very good report about him or her. Such report is called testimonials. So before you put your money in the hands of anyone who calls himself a financial advisor, make sure you have comprehensive answers to these three significant questions. And if you are not genuinely convinced, take your money elsewhere or bury it in the ground like the steward who buried his master’s talent. At least it will be kept save with you.