While there is a vague majority of financial advisors who’re going by the ‘suited and booted’ pretense, there are quite a few who are not only uptight regarding their investments, but are also bent upon helping others. A financial advisor might not only guide you to invest your money before you hit rock-bottom, but will also tell you how to save money before your hair turns gray.

Hiring a financial advisor can come in handy, especially if you eat up your pay cheque in less than a fortnight and are having troubles saving money and spending it in moderation. Mentioned below, are 5 tips that you should consider when choosing a financial advisor.


  1. Qualification:

Sure, anyone can come up with a convincing pretense and hand you a couple of strategies that they have listened to on a TedTalk or copied from a book from a library. Before hiring a financial advisor, make sure you check their qualification credentials, and run a thorough background check before putting your assets at risk. Hiring a Certified Fund Specialist (CFS) or Certified Finance Planner (CFP) might be beneficial as they undergo a thorough process of training before they can tackle clients of the real world and gain experience.

  1. Relatable and Open:

While most financial advisors seem as they don’t have a care about money in the world, many get into the field after battling their own financial woes. Make sure you hire a financial advisor that is not only open about and easy to converse with, but has no alms in providing you information about their personal resolutions or battles with money. This is primarily because people can relate to personal experiences more than simple planning lectures – it makes the entire practice appear more human.

  1. They make you get the most out of their advice:

Your financial planner knows just exactly what financial or investment route you should adhere to by simply looking at your financial documents, and talking about your future plans with you. A good financial advisor might be stuck upon giving you a bunch load of advice, but they wouldn’t force you to necessarily imply them by the rule. Many people would still consider going by the most accessible and easier route, despite acknowledging that it might not be the best way to wrap around.

However, in such circumstances, your financial advisor should (and would) definitely work through your desired route so that it not only works out for you in the short run, but also keeps you motivated enough for the long run.

Ivan M. Illan, a financial services futurist and leading entrepreneur in the financial advisory industry invested and bought his first stock at the mere age of 13. He, however, had no idea that he would not only grow up to successfully acquire $1 billion in assets under management (AUM), but also become a bestselling author of his era as well.

As a member of the Forbes Financial Council, Ivan M. Illan believes in instilling financial services regulatory changes with his contribution so that consumers can be protected and cared for adequately. He also believes in making his workplace inclusive for the LGTBQ community so that they’d not only feel at home while pursuing a career in financial advisory, but also remain motivated to leverage better client experiences.