2. Seek Proof of Professional Competence
Before engaging the services of any financial advisor, check that he or she is really qualified for the task. For example, the Certified Financial Planner Board of Standards administers strict tests on those interested in becoming Certified Financial Planners. Besides financial knowledge they also test the candidates’ ethical approach. A planner or advisor who possesses a is more likely to handle their client’s financial affairs with competence and honesty.
However, competence and success don’t always go together. With so many financial variables liable to change it is unrealistic to expect an advisor to always get it right, but with a professional advisor the chances of sound decision making are much better.