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How to Hire a Professional Financial Advisor

Posted August 28, 2020 by EasyFinance.com to Finance 1 0

About the Author:

Ray is a sought after thought leader and an expert in financial and money management. He has been published and featured in over 50 leading sites and aims to contribute articles to help novice financial planners. One of his goals is to impart his knowledge in finance to educate and help ordinary people create and achieve their financial goals.

Managing money is sensitive and needs a professional financial advisor. The successful running of your business will solely depend on who you hire. So, it’s crucial to understand what steps to take in finding the right person. Sometimes, the person you think is right may not be the one until you get rooted in the hiring process.

There are millions of financial advisors out there, but finding the right one can be a daunting task, especially when you do not know what to do. Below are the steps that will guide you in landing a professional financial advisor that will give you a bang for your buck.

Ask for Referrals from Friends and Family

An excellent and trusted person should have crossed paths with your friends or family. Solicit around for recommendations from people in the same field.

Focus on knowing the type of relationship your family or friends had with the professional and inquire if they can be trusted with the job. Ask them if they were comfortable, happy, and satisfied working with the person. Get three to five recommendations before analyzing the best fit for the job.

Research on Professional Platforms

There are professional platforms for financial advisors such as the National Association of Personal Financial Advisors that you can get a wealth of information concerning the potential candidates. Even if you don’t have any recommendations at hand, you can check the listed database on the site to identify suitable candidates.

Any advisor listed on the platform can be a good fit for the job since they are certified to carry out the task. Another platform you can check out is the Financial Planning Association. Don’t just pick randomly, get a list of few names, and more research through their company website and social media platforms.

Once you create a list of potential candidates, make calls and carry out a short phone call interview to help you narrow down on a few people. After the phone interviews, have a list of about two to three overall best and plan for a physical interview.

Check the Certifications

Once at the interview, you may want to start by inquiring if the candidate has the right certifications from the relevant financial bodies. It’s essential to first identify this factor before proceeding with the interview so that you do not waste time in the long run.

Even if the candidate told you via the phone interview that they have the right certifications, request to see them physically. Ensure the person is licensed to practice in the field and have at least a college degree in the same discipline. You don’t want to trust your money to someone who is not qualified and may end up stalling your business.

Ask the Potential Financial Advisor Questions

To find the best person, you need to ask several questions to know what type of person they are. You can pick more insight from how they respond to your questions and handle the entire interview process.

The beauty of asking questions is that you get first-hand information, and you’ll be able to compare whatever is on paper against what the candidate says. Some of the questions to ask are:

•    What is your approach to financial planning? How do you ensure that you perform satisfactory work?

•    How is the nature of your clients? What is your level of experience working with clients in the financial sector?

•    Will you handle the account, or you have a team to delegate the duty? You need to find out if the financial advisor will manage the account or delegate the task to their staff. Know whoever is involved so that you make sound decisions.

•    How do you ensure that you stick to your client’s suggestions and goals? Can you challenge your client to try out new investment approaches? What value will you add to your client?

•    Find out how the financial advisor will help you mitigate risks and any views concerning the current market. Ensure that the candidate has an in-depth understanding of the emerging market trends. If they show signs of inadequacy, it’s high time you move on to the next person.


During the interview, look-out for any red signs from the candidate and use the outcome for vetting. Keep in mind that the person you recruit will either break or make your business better. You need to get more details from Financial Planners Gold Coast to ensure you’re making the right choice. It’s better to take ample time and settle for the best professional than rushing and ending up with regrets later.

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