Where do I look to find a financial advisor and what questions do I ask to know they are good?

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dte53thebestever
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Posted on Jan 17, 2009 8:59 PM

Finally found a free 1 1/2 to watch the webinar. WOW! Wonderful as expected. How do I find a financial advisor when no one I know uses one (I dont have referrals from people I trust) and what questions do I want to ask or how do I judge that they are quality (other than trusting what my feelings are). What are good questions to ask once I figured out how to find the people to ask. I've been saving for financial security and now I want to buy municipal bonds and diversify a bit.

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Replies: 3
Click to view beetlebale's profile
beetlebale
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1. Re: Where do I look to find a financial advisor and what questions do I ask to know they are good?
May 27, 2009 6:07 PM   |   In response to: dte53thebestever

I am a Dave Ramsey listener and follower. On his website he has a list of ELP's (endorsed local providers). I believe they have financial advisors on there. If you get a chance... I really suggest using Dave Ramsey as a someone to get financial advice from. He has really changed me and my husband's lives.

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nature1956
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2. Re: Where do I look to find a financial advisor and what questions do I ask to know they are good?
Jun 17, 2009 8:46 PM   |   In response to: beetlebale

Your first and biggest mistake will be listening to any financial advisor. Educate yourself and take control of your own finances and future. I've been investing myself for over 20 years and the greatest lesson I've learned the hard way is never to trust the advice of a financial advisor or broker unless they are financially set themselves and if they were, they wouldn't be asking you for your money to hear there great advice.

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rene_night
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3. Re: Where do I look to find a financial advisor and what questions do I ask to know they are good?
Jul 21, 2009 5:15 AM   |   In response to: dte53thebestever

I also listen to Dave Ramsey and can strongly recommend his ELPs. I've had great experiences with all that I've found on his website.

No matter who you use as a financial advisor though, make sure to follow the cardinal rule: Find someone who has the heart of a teacher. If they start to look at you and speak to you like they're some guru and you should do what they say because they know better, or if they don't take the time to explain things to you in a way you understand so you can make a confident and informed decision, fire them !

You are paying for their services, you are the one who will be making the investment, and it is your money that you will be investing. They work for you ! Too often they forget that, and it becomes about making the sale. When that happens, just tell them that they're fired and find another advisor! There are thousands of them out there and don't feel that you're stuck with just one because you don't understand what they've done with your money. Take the initiative to learn and never be afraid of asking questions!

I'd ask for referrals and then ask the referrals how they were treated and if they were happy with the service, what they wished they knew when they went in, what they learned, if the advisor was patient and helpful, if they were able to get ahold of him/her easily, etc. This is a person you're hiring and you want to make sure they do their job. You wouldn't hire a contractor to put a new roof on your house if you were told that they did a lousy job, were hard to get in contact with, and didn't care about their customers.

Do your research and don't be timid! This is your money that you worked hard for - work hard for it now and you won't be disappointed!

Ashley

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