If you are considering hiring a financial adviser to help you manage your money, you can’t hire the first person you find doing a Google search. You want to be sure that you will find someone who will work hard for you and someone that you can trust. Before you hire someone, you should understand the financial advisor requirements that you should be looking for.

1 Education and Experience

You don’t want to hire someone without first finding out about their educational background. You don’t want to hire a financial advisor who earned their Bachelor’s degree in marketing and then has chosen to change their field after the fact. You also want to work with someone who can prove that they are able to apply what they learned in school to create the best financial strategy for your particular needs.

2 What Is Their Certification?

Before hiring someone to manage your finances, you need to determine what type of certification they have. There are several types of certifications that a financial advisor can hold. The highest certification an advisor can have is the Certified Financial Planner (CFP). It takes a lot to get this certification, which will give you peace of mind that your money is in good hands. There are other certifications such as Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), and an Accredited Financial Counselor (AFC). Before hiring anyone, you should find out what their certification is and what it can do for you.

3 Their Fees

You need to understand how your financial advisor requirements is going to charge you. Some are paid through client fees, some take a commission only, and some take a combination of both. Some will use a basic pricing model such as an hourly fee, a fixed or flat fee, or an asset under management fee, which is pay based on the percentage of the assets that the advisor is handling for you.
It is best to find out how the advisor you are considering will charge you and make sure that it is what is best for you.

4 Comfort

You want to work with someone you feel comfortable with. This is why it is essential that you have a face-to-face meeting before hiring anyone. This will give you a feel of their personality and professionalism, which will help you determine if this is a person that you can see yourself working with long term.

Your money is your money and is essential to your future. Therefore, choosing the person to manage it is equally as important. Before you hire anyone, it is important that they meet all of the essential requirements.