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Many people who have hired a financial advisor in Greenville, SC will say that it was one of the smartest investments they have made. Those who hired a financial advisor and do not feel the same way, though, did not ask the right questions before hiring the advisor. Financial advisors are much like attorneys because there are many who will be beneficial for you, but there are some who will be not so beneficial. Because of this, you need to choose a financial advisor carefully. With the right choice, your financial freedoms are just around the corner. No large investment should be made without thoroughly researching your options beforehand, including hiring a financial advisor. The questions that you should be asking them will reveal their motives, dedication, professional background, and empathy for their clients. Here are five crucial questions that you must ask before hiring a financial advisor. 1. Do You Have Samples of Previous Financial Plans? A good financial advisor will keep records of previous financial plans that they set up for their clients and their success rate. Request two or three samples for you to look at. As you observe the plans, ask the advisor questions. Viewing more than one is important because it will give you a better idea of how consistent the advisor is, if they give "cookie cutter" plans to their clients, and if they can back up their claims of bringing you financial stability. If they refuse to provide samples of any kind, it is recommended that you move onto a different financial advisor. 2. How Will You Be Compensated for Your Services? Financial advisors are not public servants and do not give their services to their clients for free. There are a few different ways that financial advisors are compensated for their services, so be sure that you are aware of their method before you hire them. The most common method is for a financial advisor to receive commission on investments. Another method that is growing in popularity is that the client is charged an annual fee, which is a percentage based on the value of their assets between 1% and 2.5%. This is important to know because, as you are speaking with your financial advisor, you will be able to better gauge whether they are constructing plans that benefit you instead of plans that are designed to benefit themselves. A good financial advisor will know that their clients' needs come first, and with good service to their client, a good income will inherently follow. Stay away from a financial advisor that seems to make plans that surround their own compensation. Viewing samples of their previous plans can also give clues as to where their priorities are. 3. How Often Do You Meet with Your Clients? An advisor that only occasionally meets with their clients is one who either is spread thin among too many clients or does not value a consistent relationship with them. Beware of hiring a financial advisor that has too many clients. You want to be 1 in 50 instead of 1 in 500 to make sure that your financial advisor is truly invested in you. Meeting with your advisor frequently will help you to stay on track and will help your advisor to be more connected to you as their client. A personal trainer who only meets with a client once a month will not see as much progress as one who meets with a client at least once a week, and this principle is the same with a financial advisor in Greenville, SC. Overall, you should get the impression that your financial advisor truly cares about your success, is open and honest, and is willing to invest their time and talents in you consistently. Common Sense Retirement Planning's mission is to reduce or eliminate financial fear in retirement. Our primary focus is retirement income strategies, and we aim to help provide retirees and pre-retirees with safety of assets, financial liquidity, favorable tax statuses, protection from nursing home expenses and probate and better-than-average returns. Visit our page on http://www.commonsenseretirementplanning.com/ to see our page today!
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