The recent roller coaster ride in the markets the last several years has led individuals, couples, and families to take a second look at the way they invested and who they are relying upon for investment direction. They may be wondering, “Should I be more diversified?” or, “Is my portfolio suited for these times?” and “Does my financial advisor have a plan specifically for me?” These questions, as well as many others, have left investors wondering if they are with the right financial advisor.
When it comes to choosing an advisor investors should be looking for certain types of attributes, such things as does he or she truly know me. Does the advisor know how secure your job is, know how much debt you have, know when you want to retire, know your investment style, know how to communicate with you, and do you feel they truly care if you reach your goals. Each individual person might have more to add but it all depends on the situation. You should look for someone who respects your personal financial blueprint. Every investor has one and it’s your advisors job to help you find it and plan around it.
Another very important attribute with an advisor is his or her communication with you. There is nothing more frustrating for an investor to be concerned and fretful about their financial situation and not get help or guidance in that time. Take for instance the most recent years in the market; it’s obviously been ugly to say the least. What did your advisor do or say to help you through this time? A good financial advisor has to do more than check up on a client every six months. He or she needs to communicate with you in a forthright way and that includes returning your calls or emails within 24 hours. You need someone who will actively care about your investments, someone who listens when you tell your story, and someone who provides leadership at the right time. Your advisor should not communicate with you every couple of years or disappear six months or a year after helping you set up an account. We all know more bull and bear markets will follow. What do you think your current financial advisor will do next time? Sit back and relax when conditions improve? Mysteriously ignore you when the markets slump? If you feel that inattention and misdirection characterize your relationship with your current advisor, perhaps it is time for a change. You are not forbidden from changing advisors. You may look back one day and realize that the change helped your financial situation and financial future.
Choosing the right financial advisor for your financial plan is critical to the long term success of your financial goals. If you have an advisor that understands you and your needs, communicates well with you, and consistently works with you and your plan than you are on the right track. If he or she doesn’t, you just might be delaying the inevitable.
Kevin MacWilliams is a Financial Advisor at Clearview Financial Group. Securities are offered through Securities America, Inc., Member FINRA/SIPC. Advisory services offered through Securities America Advisors, Inc. Kevin MacWilliams, Representative. Clearview Financial Group and the Securities America Companies are unaffiliated. For more information, please call Kevin at 826-2279 Ext 4, or e-mail at kevin@clearviewfinancialgroup.com. and/or visit www.clearviewfinancialgroup.com