This Business News Story Was Uncovered By Us From: http://www.youngupstarts.com/2019/06/18/ask-yourself-3-questions-to-help-find-a-financial-advisor-you-can-trust/
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by Chris Hobart, CEO and founder of Hobart Financial Group
When it comes to financial planning, most Americans take a do-it-yourself approach.
In fact, various surveys and studies over the years have shown that anywhere from 60 to 70 percent or more don’t have a financial advisor.
But does that mean the remaining minority who do hire someone are more confident about what the future holds for them financially?
Maybe. But maybe not.
Most of those people say they don’t completely trust that their advisor is always acting in their best interests, according to a poll by the American Association of Individual Investors.
That distrust could even be part of the reason some people decide to forgo using an advisor at all.
People see headlines about shady practices that exist in the financial word, and as a result they become leery of working with any financial advisor because they no longer know who to trust.
It was the shady practices of one such advisor that put me on the path to a career in financial services. My grandmother placed her trust in an advisor who “advised her right out of her life savings”.
I think it’s important for those of us in the industry to demand more of ourselves, because investors deserve more from us. We must call out questionable practices when we see them.
But what can the average person do to improve the odds that they are working with an advisor they can trust? Here are a few questions to ask yourself about the person you rely on to handle your finances:
1. Is your advisor honest when discussing how they are paid?
Financial professionals are paid in a number of ways, but the financial industry hasn’t always been forthcoming about compensation. Some are paid on c… Read More
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