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Questions to Ask Your Financial Manager

"Questions to Ask Your Financial Manager

Choosing the right financial manager is by far the most

important investment decision you will make. Depending on your

financial needs, it is imperative that you find answers to some

important questions, from your financial manager. Given below

are some should-be-asked questions.

1. What services do you offer and what are your areas of

specialization i.e. do you specialize in retirement planning,

investment planning, tax planning estate planning, insurance

planning or any others?

2. How many years of experience do you have in offering

financial planning advice? Presently, how many clients do you

have?

3. Describe your work history in the past five years. What

financial planning credentials do you hold?

4. What are your educational qualifications and what subject

have you specialized in? How can I be sure that your lack of

experience in the fluctuating market can be compensated with

your educational degree?

5. Have you ever managed or owned a business?

6. Can you explain financial jargons in simple terms that I can

understand? Can you also explain your investment approach and

philosophy in simple terms?

7. Do you have a license or are you registered with an

investment firm? If so where?

8. Where is your own money invested? Explain the reason why you

chose those kinds of investments.

9. What do you charge for your services? Do you work on a

fee-only basis or a brokerage commission basis? Why?

10. How often do you meet your clients? Can you meet me once in

three months? How receptive will you be to my queries that may

arise at any time?

11. From what sources do you get new investment ideas? How do

you keep abreast of the market trends and swings? Do you have a

team of experts to seek advice from?

12. How often do you re-evaluate your client's financial

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portfolio? Will it be possible for you to provide me a quarterly

assessment and advice regarding my financial portfolio?

13. Based on my needs and limitations, how do you plan to invest

my money? Why do choose those investment options?

14. Have you ever filed for bankruptcy? Do you have any

disciplinary action or complaints registered against you?

Always check your financial manager's track record and client

satisfaction level. Never go merely by his/her words. Remember

that selecting your financial manager is much like selecting

your doctor. If you want the 'sound health' of your finances,

select the right manager. Never be afraid to ask questions and

clear any doubt you might have, as finally its all about your

money and your future.

"

About the author:

"Dan is a well know author in the field of finance and

investment. He has authored many articles which are very popular

in many of the portals over the internet. "