Some Things You May Not Know About Your Financial Advisor

Nowadays, the modern financial planner has a poor reputation. It’s probably due in part to the fallout from the financial crisis a few years back, but it seems like every customer has an awful tale of someone stealing their money in broad daylight in front of them. The media has also played a role in perpetuating and promoting bizarre and irregular bad news that has stuck in the minds of clients all over the world. While cynicism is understandable considering past bad advice, debit card fees, and bailouts, the average honest finance advisor working hard for their client’s money wishes this wasn’t the case. There are a few items they wish clients knew about before they walk through the front door and begin working with you: Kahului Financial Services  has some nice tips on this.

Every advisor is unique.

Different financial advisors, like physicians, specialise in different fields, so before you go to any advisor for help, find out what they specialise in. Some financial planners excel at assisting clients with their retirement plans, while others are more suited to your finances in order to ensure your portfolio achieves optimum returns. A finance advisor is recommended for any retirement plans, while a tax attorney is recommended for positioning the company for tax benefits.

For various purposes, we bill you differently.

Some financial advisors are charged a regular flat fee for consulting with you, and those who may be investing your money may be paid a yearly percentage of your assets if you bargain. Advisers who suggest finance products to you are also paid on a commission basis. Each payment model may be unique, but the point is that each one will reveal the adviser’s motive for making you money. Being mindful of this dynamic before meeting with a financial planner will save you a lot of time and effort.

Check to see how well-informed your financial advisor is.

There are various levels of expertise in a topic, just like there are in many other professions and occupations. This is no different. To work as a financial planner, you don’t need a degree; all you need is some preparation for a test. On the other hand, advisors who have completed their certified financial planner or chartered financial analyst programmes are on the other end of the continuum. It may take years to complete this task. Before hiring an advisor, always inquire about their level of education and experience.

They owe you various degrees of legal responsibilities.

All financial advisors have a fiduciary duty to their clients, which means that as part of the relationship they are expected to build with them, they should always place their clients’ interests ahead of their own. Decisions and actions should always be made with the client’s best interests in mind.


E.A. Buck Financial Services
33 Lono Ave, #310, Kahului, Hawaii 96732
Phone No. : 8085452211