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As you make investments and plan your financial future, you can hire a San Diego investment manager to help you make important decisions regarding your money. But how do you choose someone that you can trust with your money? How do you know that you hired the best person for the job? Try scheduling interviews with several professionals and ask them the following questions: 1. How Are You Paid? It's important for the professional that you hire to be open and honest with you. Ask about how he or she is paid. Do they get paid a certain percentage of the investments that are recommended to you? Are some investments worth more than others? Does he or she receive payments from mutual funds or investment companies? Is there a tiered rate system or is payment based on commission? Make sure that you receive honest answers and feel comfortable with how the professional will be paid for helping you. 2. How Are Assets Protected? In order to get the highest yield from your investments, you're going to have to take some risks. However, you want some safeguards in place to protect your assets. Find out what those safeguards are. Are there any regulatory controls for compliance with legal statutes of investing? Has the professional had any disciplinary infractions for unethical or unlawful actions? You should feel safe knowing that your money will be protected by the professional that you choose. 3. What Is Your Experience? In order to work with investments, there are certain licenses, certifications, and credentials that one must have. Ask the professional what his or her background and experience is in this field. Some people may have received one of the following certifications: CPA, CFP, CFS, ChFC, CFA, CLA, or JD. Along with any one of these certifications, he or she should have taken and passed the following exams: series 7, 24, 51, 63, 65, and 66. Make sure that he or she has also had plenty of experience with other portfolios and clients to know the market and how to best help you. 4. What's Expected for Communication? The market changes from day to day, so you may not want communication about your investments every single day. On the other hand, you're going to want regular communication with the professional helping you. Find out how frequently he or she is planning on reaching out to you. If you have any questions or concerns, what is the best way to reach the professional? Will you receive trade notifications with explanations for that decision? Will you receive regular market information, investment outlooks, and educational information? Make sure that you'll get the information you need to feel confident that your financial future is secure. 5. What Services Are Offered? If not anything else, the professional should help you with the decision-making process to ensure that you make the right decisions for your financial portfolio. Ask about the other services that he or she will provide to you. Will he or she hold an annual review meeting with you? Will the professional assist you with wealth planning? Will insurance services, estate planning, and tax planning be included? Make sure that your professional will provide the services that you want and need for your investments. Asking these questions will allow you to determine whether or not you'll feel comfortable and confident in the San Diego investment manager that you hire. Make sure that you do your research and ask the questions that you need to ask in order to know without a doubt that you're selecting the right person for the job.
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