It would be ludicrous to visit a podiatrist if you’re having chest pains. Just as all doctors are not made equal, not all financial advisers are suited for your individual needs.
Say, for instance, you’re a 35-year-old married man with two young children. Your financial circumstance would look quite different from that of a 61-year-old nearing retirement. As a result, you would need different strengths from a financial planner.
Uncovering areas of expertise is just one objective when seeking someone to help manage your finances. At the start of a new year, many people will look for professional help to orchestrate their financial moves. Doing so blindly, however, could potentially leave you in a deeper hole than when you started.
It pays to take precautions, ask the right questions, and identify and stay focused on your goals.
“People tend to get a little too carried away about what miracles the adviser might be able to work for them,” said certified financial planner, Don