Finding a trusted investment advisor can take time. While the investment strategy, asset allocation, and strength of the firm are obvious factors to success, you should also evaluate your investment advisor and be able to answer yes to these four questions:
1. Does my investment management team communicate with me regularly?
You shouldn’t only hear from your investment advisor when your annual statement goes out. You should expect for your advisor to be proactively connecting with you at least once per quarter and you should expect to be kept informed of recent market events.
2. Does my investment management team bring significant depth and breadth of experience?
It’s important that your advisor has experience managing through good and bad market conditions, but you should also consider the entire team behind your manager. Do you have just one advisor, or is that advisor backed by the expertise of a full team of knowledgeable investment professionals? Do you have access to all of these team members from your portfolio manager to the chief investment officer?
3. Is my investment advisor empathetic?
Sometimes, people overlook this quality, but when you are dealing with something as personal as money, it is important that your advisor is not only knowledgeable but also empathetic to your needs and personal situation.
4. Is my investment advisor a fiduciary?
Is your advisor legally required to act in your best interest? It may come as a surprise, but not all advisors are required to put your needs above their own. Be sure you understand if your advisor adheres to the fiduciary standard.
When you are deciding who to entrust with your finances, a number of factors play an important role, but a critical part of your success comes from building a strong relationship with an investment management team you can trust to help you achieve your goals.
If you’d like to speak with one of our investment management professionals about your portfolio, click below to schedule a complimentary consultation.Investment and insurance products are not a deposit, are not FDIC insured, are not insured by any federal government agency, are not guaranteed by the bank, and may go down in value.