4. Their certification

Financial planning takes extensive knowledge, experience, and training. Many professionals in the financial world will not disclose whether they are certified or not.  Some just came out of the insurance business, or were successful in investing for themselves and decided to jump into financial advising for others without the training necessary to be effective or efficient. 

Make sure you find someone that you can trust with your money. To make sure that your financial advisors are qualified, determine whether they are certified. Look for certifications like Certified Financial Planner, Personal Financial Specialist, and Chartered Financial Consultant before choosing a planner.

5. Malpractice is going to be difficult

With the loose structure and regulation of the financial industry, proving someone cheated you can be extremely difficult.  Even if the person you have been working with holds a security license.  To make sure this doesn’t happen to you, do a thorough check on the financial planner or investment advisor’s record and reputation. 

 You can check on the SEC (Securities Exchange Commission) website to view previous complaints and violations. Or search here for a list of local financial planners to match your needs.