Not Asking Enough Questions

It is not an easy task to select a financial advisor. Your friends and relatives might recommend a few advisors. However, don’t hire an advisor based solely on their recommendations. When you meet a potential financial advisor for the first time ask them as many questions as possible that gives you a clue to their true status. Find out what is their qualification, ask to see their certification and, whatever they claim, check it out online. You would also want to know how much money he/she is earning. How many clients does the organization have and how many do they personally have? How long have they been doing the job and do they have evidence of this? Have they ever been the subject of formal complaints, sued by a client or disciplined by a regulatory body? These questions are important because it's your money and your future prosperity you're seeking to protect.