Without the correct chemistry, you aren t going to get a good match, he said. There should be a certain chemistry because communication is a very important part of the financial planning process. He also advises checking the educational background of the financial planner. See whether the advisor has gone to the extra effort to become a Certified Financial Planner or a Chartered Financial Consultant. This is a rapidly changing business, so people who stay current in this business have a certain edge, Finkelberg said.
Experience is very important.
It s hard for someone who is new to this business to see the market and investments from all sides. I think that only comes from experience. Be sure that the philosophy of the investment advisors meet your criteria, that you think alike, Phillips said. It is good to ask for referrals. One of the best ways to select an investment advisor is to talk to someone else who has used a person or persons.