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10 Attributes of Great Financial Advisors

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When it comes to matters of financial planning, it is often advised to consult a professional. A professional financial advisor can guide you towards better savings and a secure working and retired life. However, in a pool of qualified advisors readily available on the internet, it can sometimes be challenging to find one that can understand your goals and work as per your requirements. This is why it helps to look for certain qualities before you hire someone to handle your finances.

Here are 10 attributes that make a financial advisor great and ideal to be your guide on the road to financial freedom.

  1. Good educational qualifications
  2. In order to ascertain whether or not your financial advisor is the right pick, you must look at their educational qualifications. Certifications such as the Chartered Financial Consultant (ChFC), Chartered Life Underwriter (CLU), Certified Public Accountant (CPA), and Certified Financial Planner (CFP), etc. will help you determine the credibility of the professional. Make sure to keep an eye on these. You can also consult the Federal Securities and Exchange Commission’s Investment Advisor Public Disclosure to verify their qualifications.

  3. Knowledge and awareness
  4. Apart from these credentials, the advisor also needs to be well acquainted with the recent changes in the law, economic policies, and market conditions. While most people may have certifications on their office walls, not all will be able to keep up with the many changes that can affect short-term and long-term investment decisions. Therefore, as you check for degrees and qualifications, you should also look out for on-the-ground knowledge and familiarity with basic concepts.

  5. Openness to communication
  6. It is very important to be able to discuss all aspects of financial planning with your advisor. An ideal professional should be willing to have discussions to know your needs, goals, and preferences when it comes to savings and investments. It is essential for an advisor to act as per your wishes and not force their likes and dislikes on you. All of this can only come with honest and open conversations, regardless of how long these discussions might take.

  7. Ability to give attention to details
  8. As you go through life, your necessities are bound to change. Every major and minor life event such as marriage, having children, getting divorced, picking a new job, or changing cities will demand you to relook aspects of your plan and include or exclude certain components from your strategy. It is crucial for an advisor to pay attention to these changes and incorporate them into your portfolio.

  9. Understanding of your risk appetite
  10. Every individual’s risk appetite is different. The willingness or hesitation to opt for volatile investment instruments also changes with age, family composition, and income. While there may be added advantage with riskier products as they offer better returns under ideal situations, they may also pose a threat to your savings and peace of mind. It is very important for your advisor to gauge how comfortable you are with such decisions. A dependable and virtuous financial advisor will never compel you to pick a certain investment or urge you to come out of your comfort zone.


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  11. Willingness to teach
  12. A competent financial advisor will not only offer you guidance but will also teach you right from wrong when it comes to investing your hard-earned money. While most advisors may only include suggestions and advice as part of their job description, the sign of a great professional is to go above and beyond and also teach you a few tricks of the trade. This can enable you to make better decisions and comprehend all the pros and cons of your choices.

  13. Ability to establish trust
  14. It can be hard for most people to hand over private details of their finances to an outsider. It also takes a lot of time to open up to another person about your goals, future endeavors, and estate details. This is why it is extremely vital to have a trustworthy association with your advisor. A financial expert will be able to set the right tone from the very start. This can enable you to be frank about your needs and help you embark on the right journey to a more stable life.

  15. Curiosity to learn
  16. A market is a dynamic place that can witness extreme highs and lows every day. A rigid professional may not be able to guide you best. However, if your financial advisor is flexible to learn and eager to grow, they can prove to be better companions. Learning never stops in the financial world, and a well experienced financial planner should be keen to improve their skills and be on the same page as the changing needs of the time.

  17. Understand the importance of listening over talking
  18. While disagreements are a part of any professional association, it is essential for the financial advisor to be able to differentiate between your needs and their personal agendas. This comprehension can only come if they listen to you and align themselves with your vision. A good financial advisor should be able to keep their own views on the backseat and put your desires on the forefront.

  19. Calm and disciplined
  20. The fluctuations of the market can force any individual to lose their peace of mind and turn anxious. There is always some degree of risk involved in an investment regardless of how safe or stable a product might seem. Therefore, financial advisors need to be composed and stoic to a great extent. It is crucial for them to maintain their cool and find out ways to tackle an unfavorable situation. A skilled financial advisor will never let volatile market forces interfere with your calm and offer suitable alternatives to avoid or minimize losses at all costs.

To sum it up

It is quite easy and hassle-free to find a financial advisor these days. But, finding one with all these attributes can be the tough part. However, when it comes to safeguarding your money, it can help to not compromise and settle for only the best. Making sure your financial advisor has these ten qualities will ensure that your money is safely and soundly invested and saved for future contingencies.

You can also get in touch with professional Financial advisors for all your varied financial needs.

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The blog articles on this website are provided for general educational and informational purposes only, and no content included is intended to be used as financial or legal advice.
A professional financial advisor should be consulted prior to making any investment decisions. Each person's financial situation is unique, and your advisor would be able to provide you with the financial information and advice related to your financial situation.