Tips to Hire the Best Investment Expert

A person counting dollars

Investing money can be risky, especially if you have no prior experience. It’s one reason why many people hire an investment expert, a.k.a. a financial advisor. They hold relevant knowledge and experience in the field, which is all you need to start investing your money.

An expert can guide you in weighing the pros and cons of all investment options on your list and then make an informed decision. In short, they save you from losing all of your money in the wrong place.

If you don’t know how to hire an investment expert, then here are some tips for doing it.

1. Check Credentials

The first thing you need to check in the investment expert is their credentials.

Do they hold relevant qualifications? Are they certified to offer advice? Do they have experience in the field?

You cannot trust a person without credentials, so make sure you have done your research before handing over the control of your finances to another person. You can also ask for recommendations from friends and family, so you don’t face any disappointment by hiring an untested person.

2. Must Provide Holistic Services 

A person looking at the screen with data

The expert must not be there only to offer you tips. They must offer complete money management services to you. They must comply with your investment goals and find out what works best for your situation. They should be aware of your investments, liabilities, cash flow, net worth, etc., before deciding on a course of action.

3. Pay Attention to Your Finances

Another thing that you must check with the expert is if they will pay full attention to your finances. Several investment experts in the field deal with many clients at one time. All of this can lead to confusion or a lack of support for you. Hire someone available to handle your finances without any distractions.  

4. Must Be Accessible

Look for someone who is always accessible and available for your assistance. Your financial advisor must always be available to answer your queries and help you achieve your goals.

Francisco Jose Faraco is a CFA charterholder who’s also working as a Teaching Assistant in the Master of Science in Financial Mathematics at the University of Chicago. He holds great knowledge of the field and can help you in looking for a good financial advisor. He’s been located in New York for the past 12 years, so don’t waste your time and contact him today!

 

Comments

Post a Comment

Popular posts from this blog

Francisco Faraco Answers the Most Frequently Asked Questions About SROs Like FINRA

Image
An SRO or self-regulatory organization  may be affiliated with an organization or government, but it’s a standalone body that protects stakeholders by regulating a certain industry or profession. For instance, FINRA (Financial Industry Regulatory Authority), a financial SRO, has gone as far as to set up FINRA BrokerCheck  to keep professionals in check. In today’s article, Francisco Jose Faraco  answers the most frequently asked questions about SROs. Does the Government Regulate SROs? Although SROs are self-regulating bodies, they are subject to government scrutiny and regulation. You see, SROs are an extension of government regulation. They can exercise the same power level because they represent the government to a certain extent. Therefore, the government will regulate how SROs regulate an industry or profession. Not only that, but it’ll also demand a policy change should things change on a political level. To What Extent Can an SRO Exercise Its Authority? SROs don’t a...
Read more

Francisco Faraco's Perspective on Avoiding Broker Imposter Schemes via FINRA BrokerCheck

  Although impersonation scams are not new, they are becoming more sophisticated with each passing day. In February 2021, the Financial Industry Regulatory Authority (FINRA) reported an increase in cyber-related incidents  involving fake websites that use the personal information of real industry professionals. In response to the increasing number of impersonation scams, the FBI and the Securities and Exchange Commission  warned investors about this issue. FINRA Brokercheck Francisco Faraco , CFA Charterholder and Teaching Assistant in Financial Mathematics at the University of Chicago for the Master of Science, believes these schemes can be hard to spot unless you have the necessary knowledge. Here are a few tips to help identify the fakes. Website By creating fake websites, these fraudsters imitate the operations of real investment professionals, collecting the personal information of potential customers over the phone. Aside from the usual mistakes, such as poor gramma...
Read more

A Guide to Starting Your First Business

According to recent  Bureau of Labor Statistics  findings, almost 20% of startups don't make it past a year. In other words, for every ten startup businesses, two are destined to fail before their first anniversary. Follow this guide to start a successful business and be the lucky eight to thrive in an increasingly competitive market. Analyze the Market A business idea may seem lucrative initially, but it could also be saturated with competition. Survival in highly competitive environments is only possible if you have something different to offer your target audience. You can't know your unique selling proposition unless you're aware of what else is out there. That's where market research comes in. Start with current data—use questionnaires or interviews to gauge whether people would buy a certain product or if they'd much rather pop into their nearest Target.  You can also use current data, such as recent statistics or census, to analyze the market. Alternatively, ...
Read more