Choosing a good financial advisor and finding the best for you is like interviewing job seekers. You are the employer and the advisor is the employee and you need to discuss with them about portfolio review.
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Here are tips for "interviewing" candidates who are competing for your business:-
(1) Eligible referrals: Did the candidates come to you or did you contact them about eligible referrals? In other words, was the "Eligible Referral" candidate recommended to you based on their proven success with their client or was someone recommended to you because someone you trust made a referral?
Remember, consultants, operate in a business that relies primarily on references. Consultants also provide promotions. As a result, they frequently solicit referrals from new clients who have not "qualified" referrals based on empirical evidence of their advisor's actual performance – even though the client may have received good advice or service and therefore want to promote their advisor.
(2) Objective Review: There are sources such as A.M. Best and TheStreet.com (previously known as Weiss), which rate financial companies using the A, B, C (+/-) system. They are useful in finding out if the consultant is working for a well-rated company or firm. However, at least with A.M.
(3) Compensation Advice: Unfortunately, financial advisors may want other sales-related industries to research. When it comes to making financial recommendations, adherence to recommendations determines acceptance to some extent based on whether the recommended product passes a proficiency test.