What Does a Good Financial Advisor Look Like?

by Garrett Maddox

So many people in America don't know how to plan for their future. Unfortunately, that puts them at risk to be taken advantage of by financial advisors that are out to make a quick commission. Those are the ones that talk a great talk, sign you up, and you never see or hear from them again unless they want to sell you something. I think those people should be taken out back and given a good whoopin' (Can't you tell I am from Texas?)

Don't feel discouraged, there are advisors out there that want to help you. Here are a few ways you can arm yourself so you don't get taken advantage of.

1. Does the advisor take the time to explain everything to you? Even if you don't have questions, they should take time to educate you on the process so you won't have any surprises; i.e. all expenses you are paying for their services.

2. Does the advisor ask you how often you would like to be contacted? Everyone is different when it comes to this. Some like once a year and others are once a quarter. It really doesn't matter, but they should contact you as often as you want. However, be reasonable. They can't realistically call you daily or weekly. Remember, they have other clients to serve.

3. Ask your friends about who they work with. If they love their advisor, they will tell you volumes of good stuff about them. If they can't think of anything good, beware!

4. Trust your gut. If you aren't comfortable signing on the dotted line, don't. Discuss your hesitation with the advisor you are talking to. If they still try to push you into something....RUN, Forrest, RUN!!!!

5. Check out the advisor's website for more information. If they don't have one, check out the firm's site.

6. Ask questions. Ask questions. Ask questions. If they throw out a term you don't understand, don't nod your head and glass over it. Tell them to stop and explain it in kitchen English. If they are a good advisor, they will continuously ask if you have any questions.

7. Do they ask you a lot of questions? Great advisors usually don't talk much because they are asking you questions so they know more about you to make proper recommendations. If they talk most of the time, they aren't a good listener. Do you want to work with someone who won't listen to you? I'm thinking no.

When it all comes down to it, you need to make sure that the advisor you want to work with is someone you feel has your best interest at heart. With a few appointments with them, you will be able to tell.

Garrett Maddox is The Singing Financial Advisor in Houston, Texas. His financial planning practice is primarily focused in The Woodlands. A second generation financial advisor, he is passionate about educating his clients on how to reach their financial goals. He doesn't sing his financial advice, but hosts social events for his clients and guests where he entertains them with his vocal talents. For more information about his practice visit his website at http://www.garrettmaddox.wrfa.com or call (281) 893-6020

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