Industry Experience
Experience matters in the financial industry. Look for an advisor with a solid track record and a history of working with clients in similar financial situations as yours. An experienced advisor is better equipped to navigate complex financial issues and market fluctuations.
Fiduciary Duty
Choose a financial advisor who is held to a fiduciary standard, meaning they are required to act in your best interest at all times. This is important as it ensures that the advisor is not influenced by commissions or other incentives when making recommendations.
Fee Structure
Understand how the advisor is compensated. Some advisors charge a fee for their services, while others earn commissions from the financial products they sell. Feeonly advisors may be less biased in their recommendations since their income comes directly from their clients, rather than product sales.
Client References and Reviews
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