How To Find A Good Financial Advisor

You might not be aware of this but we indirectly take financial advice either media or our friends and family. Most of the financial decisions an average person makes are directly or indirectly influenced by people who are close to them. Mainly from their colleagues, friends, family or business partners. Do not be one of these people. Take control of your finances by letting a professional manage them.

Why do you need a financial advisor?

financial advisor

Not everyone is well-versed in personal finance and related jargon. Particularly, people who come from an educational background other than commerce or economics. You may be a great medical professional or a lawyer, but it’s not possible to be as informed as a seasoned pro who deals with taxes and investments of hundreds of clients each day. This is what makes finding and hiring a good financial advisor so crucial.

How to find a financial advisor to take care of your taxes?

Filing a tax return is not an easy job. Make one mistake and you will have to go through a tedious modification process that costs more money and consumes time. How about getting your tax calculations right from the get-go?

A financial advisor also specializes in areas like tax return preparation and tax planning. Financial advisors holding certificates like a certified public accountant (CPA) and certified financial planner (CFP) are always preferred more than them who are self-taught and don’t have any credentials in the tax domain. So, to do your taxes, hire a financial advisor with the above-mention credentials.

How to find a financial advisor to manage your assets?

In the real estate world, an asset manager is the one who manages investments made by investors. Asset management is a subcategory of financial management.

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They are not bothered with the maintenance of the property but are involved in making financial decisions in relation to a home or land of a client. Their job is to find clever ways to maximize profits by increasing the properties value.

A real estate investor hire an asset manager to make informed decisions by doing thorough market research to avoid investment losses. Hire someone who has a reputation in the industry and also has relevant credentials.

What about money management?

Money management is also known as “investment management” or “portfolio management”. Money management involves budgeting, saving, investing and spending. A financial advisor is capable of manages all the above-mentioned responsibilities.

A financial advisor is an umbrella term for professionals who perform a wide range of financial activities. They are mostly people who have an educational background in finance and have worked in job profiles like bankers, accountants, and stockbrokers.

How much do they charge?

Every financial advisor his/her own way of charging you. Some charge based on commissions while others have a fixed fee that you are expected to pay upfront. While hiring a commission-based financial advisor, negotiate the percentage based on how much profit he/she can help you make. Do not pay a fixed percentage.


You do not have to hand over your entire financial responsibilities to your financial advisor but they will merely take a look at your books and help you make informed decisions.

Major brokerage firms have their own account in which your money remains safe. For investment purposes, the advisor will recommend assets that you could profit by investing in.

About the author

Mark Holland

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