3 Important Questions To Ask BEFORE Choosing A Financial Advisor

Choosing the right financial advisor is an important step to building your Freedom Generator. If the person advising you doesn’t have the right skill, thinking or have your best interests at heart, your Financial Freedom will be affected. When choosing an advisor, you should ask as many questions as you can. I’ve put together a list of three to get you started!

Is This Financial Advisor Financially Fit?

If your financial advisor isn’t handling their own finances well, how can you trust them to manage yours? I like to ask any prospective financial advisor, “What percentage of your expenses could you cover right now with income from investments?” Their answer gives me a good idea as to whether the advisor is Financially Fit or hanging by a thread. Consider this, why would you want to take advice from someone in the 96%? Not only is that a bad idea, advisors that aren’t Financially Fit may be more likely to mishandle your money, provide bad advice and, in some cases, may even commit fraud. Wouldn’t you rather take advice from someone who is in the 4%—someone who has already achieved Financial Freedom?

Is This Financial Advisor Willing To Focus On My Goals?

If you tell your potential advisor you want to focus on building Cash Flow rather than net worth, and they try to convince you otherwise, be wary. Many advisors will insist you need to build your net worth. But if you’ve worked your way through Financially Fit Bootcamp, you know net worth is a useless goal! A great advisor will already understand what it means to be Financially Free, and a good advisor should be willing to learn. Don’t work with a trusted advisor that won’t take the time to understand your goals and who isn’t willing to help you shape a financial plan that works for YOU.

Is This Financial Advisor Well-Reviewed By Previous Customers?

Reviews are especially helpful for choosing the right trusted advisor. Particularly if the testimonials come from people well-versed in finance. If you cannot find any reviews on the advisor you’re considering, or you can find only negative reviews, keep looking! When a financial advisor is good at their job, they have loads of Raving Fans willing to share their stories.

I know what most people want is to stop exchanging their time for money and to start having the power to make choices in their life. Having a trusted financial advisor on your team is vital to building a strong Freedom Generator quickly. Because the more quickly you increase your monthly Cash Flow, the more quickly you reach Financial Freedom.

image credit: Bigstock/Bernie123

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