by Justin Krane
Oy Vey, Ya Mean I’ve Gotta Hire a Financial Advisor? You want to have more control of your finances. You just can’t seem to find the time to do it. You probably have thought about hiring a Financial Advisor but the thought of dealing with your money overwhelms you.
At some point, you take the plunge and decide to hire someone. You need advice, you want 
to be educated, and you want to be heard by a trusted advisor. But you are not sure what questions to ask to see who would be a good fit for you.
Before you even think of what to ask and what to bring to the first meeting, take special notice of how the advisor conducts himself. What is the advisor’s process for getting to know you to see if you are a good fit for each another? Does he start out by telling you all about his qualifications, how much money he manages and what his work experience is? Or does he ask you questions, so that he can learn about you and try to connect with you.
At the end of the meeting, you need to ask yourself, did this advisor really “get me?” Does he understand what my problems are? And can he work with me to help me solve them?
Before you hire someone, here are some questions that you need to ask your Financial Advisor before you do business with one another.
1) How do you get paid? Are you “fee only” or do you work on commission? If the advisor is fee only, then she is a fiduciary where she legally must put your interests first. Advisors that are “fee based,” can wear a sales hat and a fiduciary hat, meaning that they can switch roles during your relationship, a role which may not be the best thing for you.
2) What titles do you hold? In my opinion, the only real titles that merit any value are Certified Financial Planner ™ and Certified Investment Analyst ®.
3) How many clients do you have? How many people (assistants) support you?
4) How much money do you manage?
5) Who exactly is your ideal client?
6) How often will we meet and what is your preferred method of communication?
Dealing with your money is so important if you want to be a successful entrepreneur. Making the decision to work with a Financial Advisor may be the first step toward achieving financial peace of mind.
Justin Krane, a Certified Financial Planner, founded Krane Financial Solutions in January 2008. He holds a Bachelor of Arts degree in Finance from University of Colorado, Boulder, graduating in 1994. Prior to founding Krane Financial Solutions, Justin was a Vice President, Investments, and Sales Manager at UBS Financial Services Inc. for 12 years, in Beverly Hills, California. For more information, visit www.kranefinancialsolutions.com.
Looking to grow your business and need support, check out Amy Applebaum’s Release Your Inner Millionairess Coaching Club, pick your profile and get started!
