Wealth Management – Interviewing an Advisor

If you’ve made the decision to work with an advisor, you’re going to want to ask them some questions prior to turning over your finances to them. Here’s a list of some of the basics-determine what is relevant for your situation, and work with an advisor whose answers and whose methodology seem to fit with your own thinking. The answers listed here are just for some guidance.

Q: Are you registered with a state agency and the SEC?

A: Should be yes…working with an advisor who is properly licensed means that someone is ensuring that the advisor meets continuing education requirements and follows a mandated list of rules.

Q: What licenses, certificates and registrations do you have?

A: Depending upon the answer, you can do a quick internet search to determine the relevancy-for instance, the CFP is a fairly well-recognized credential, “Certified Financial Planner”. There are insurance credentials, financial planning credentials, and more. To sell insurance in a particular state the provider must be licensed in that state. Ask about educational credentials, continuing education and how he/she keeps up to date with peers and with the industry. Figure out how tech-savvy the advisor is, if that is important to you (if you do everything online, and the advisor is pen-and-paper, that’s not a good match-or vice versa).

Q: What services do you provide?

A: There’s no universal right answer here, but make sure the wealth management advisor you’re speaking to does work in the area you’re looking for-ie, education planning or wealth transfer.

Q: What kind of clients do you serve and how many do you have?

A: The answer here should let you see if you fit within the advisor’s target-if you are still in the mode of growing your portfolio, and only have $25,000 to invest-but the advisor tells you he/she works with million dollar clients-you may not be a priority for him. If the advisor has many clients, you many not get the time you need-which may be fine, if you are looking for a limited amount of advice on a single area of focus.

Q: How long have you been in the business?

A: This is a good question to draw out some personal information about your advisor, to see if he/she is the type of person you’d like to work with. If the answer is “1 year”, you may be initially frightened away-but if that one year has been with a solid mentor whom your advisor still works with, hand-in-hand, that may be just fine.

Q: What is your philosophy of money management? This question can be followed by:

o What types of investments do you recommend?
o What is your area of expertise?

A: Make sure the philosophy of your advisor matches your own (conservative, for example, if indeed you are). Make sure he or she knows what he or she is talking about when referencing types of investments.

Q: What references can you give?

A: If you’ve asked for a referral from a friend you trust, this is less important; if the advisor is new to you, there’s nothing amiss in asking for a reference.

Getting Out of Debt – How Professional Debt Management Advisors Work to Meet Your Needs

During recession getting out of debt is a very difficult task. The consumers are totally confused when they are overwhelmed with arrears. Most of the individuals become unemployed and their salary are also reduced due to recession. They even find it difficult to pay the minimum expenses, hence it will more difficult for them to pay the plastic card bills. On the other hand the costs of expenses are increasing day by day. At that time the consumers search various options through which they can relieve from some liabilities. Before step forward to any process it is essential for the defaulters to seek help from the management advisors.

There are many options available in the market. If you select the best option then it will be easy for you to be free from dues sooner. The experts can guide you in the right path. They are experienced and work for long in the industry. These days the customers are choosing debt negotiation process. Other options are also available but they have some negative impact on both the parties. This process takes only 2-3 years to be arrears free. And they handle all the harassments of the creditors also. The legal management advisors are available in this procedure. The experts charge some fees from you.

You need to inform all the details to those professionals and they convey your situation to the master card companies. They are always capable of getting good and better deals because they are dealing with the angry creditors and the experts know the path of bargaining and negotiating with the creditors. Getting out of debt is a painful problem for all the non payers. In order to negotiate with the creditors the professionals provide the credit card proofs to the plastic card companies.

You always try to hire right professionals. If wrong professionals are chosen then the borrowers face big trouble by paying large amounts. You can also take their advice before choosing the option. They might guide you that which option is suitable for you. These specialists help every non payer in getting out of debts and to meet the needs in a proper manner.

Help With Credit Card Debt – How to Find Legitimate Debt Management Advisors

The recent widespread wave of debt ridden people has popularized the concept of debt management. Even just having a knowhow about the subject prepares you for the worst of times ahead. However its also a matter of great concern that many people have been unable to find the correct or legitimate debt management councilors or advisors. Therefore having some basic knowledge about settlements and debt consolidation is greatly advisable before hiring professional help. Using some web help you must first understand the pros and cons of each debt relief programs. It becomes a much easier job when you have already gone through a lot of written material over the subject and have already seen names of many debt management companies written all over many websites.

Now when you have seen so many websites of companies after companies offering solutions to your debt problems it becomes a confusing affair. Look for the companies who offer you a straightforward reply to all your queries. Such companies will look at your details and offer you the best they can without laying down any compromises. Now the best ways to see if a company is telling you the truth is to first check their affiliation with bodies like International Association of Debt Arbitrators, the Association of Settlement Companies and the U.S. Organizations for Bankruptcy. Next try to find if there are any complaints against the company in government websites of state attorney general. When you contact a company always steer clear of a company that asks for huge fees or one that you are unable to contact during normal working hours.

Another good sign about a completely legitimate company is that they offer free workshops to help you to manage your earning and financial management. They spend a considerable time in also getting to know your financial situation. Also see to it that the company does not try to rush you into making any decision. After this its all your decision that counts, if you are totally comfortable with the help that your advisor company is offering you then go for it. It might just prove to be a life saver!