When it comes to our money, how well our investments perform is out of our control but who we choose to manage our money is!
Here is a list of 5 R’s to look out while appointing a Financial Advisor:
Responsible: I believe that we are solely responsible for our choices. It is our responsibility to choose a responsible advisor who holds accountability in whatever she does and does not pass on the onus and run away from her duties.
The Financial advisor is responsible for enabling and empowering of client and providing him the roadmap to Financial freedom.
Reliable: A Financial advisor is a person who may have to work with your family when you are not there anymore. She should be a pillar of strength on whom you can lean on, depend on and trust.
Taking care of Financial health is a continuous process, and Investor should becomfortable to share all the relevant details without any hitch.
Responsive: Do you like to wait for many days for your advisor to reply to your mails/queries or would you prefer a quick response? A responsive advisor is alert and aware. She should be quick to act and react. She should immediately respond to your queries.
The advisor should be smart enough to cope up with rapid transitions.
Rigorous: A rigorous advisor shall be extremely thorough and try to be as accurate as possible. She will do her homework well and be utmost careful before advising. Also, a plus point will be she will be Focussed and Committed.
Relationship: The relationship should be beyond a professional one. A good advisor will always empathize and put herself in the client’s shoes and act in client’s best interest.
To the clients: “ If you can invite your Financial advisor to personal Family Functions, then you have made the right choice…Period.”
On a lighter note “A successful advisor does not try to have an affair with his clients instead marry them for a long term relationship.”
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About the Author: Gurleen Kaur is a Financial Consultant and devotes her time to her company www.hareepatti.com. She has done her Bachelors in Finance and Investment Analysis(BFIA) from College of Business Studies(CBS, Delhi) and MBA from IMT, Ghaziabad. She will be a Certified Financial Planner soon. She can be Contacted at gurleen@hareepatti.greatestdesignever.com