Choose a Financial Consultant

In today’s complex financial world, you may not have the time, experience or ambition to develop a good financial plan on your own. A financial consultant can help you set financial goals and create a plan to help you reach them. But how do you choose a financial consultant who is right for you? The following tips can help you hire the ideal person for the job.

The best way to find a financial consultant who is appropriate for you is to ask questions. First, ask trusted friends and family members for a referral. If the advisor works for a firm, investigate its reputation for integrity and success. Then, make an appointment. An advisor should be willing to meet with you free of charge at this stage. You can then use the following as a guideline when interviewing consultants.

• What are your qualifications and professional credentials?

• How many years of experience do you have?

• Do you specialize in a particular area?

• Will you be the only person in contact with me?

• How are you compensated – fees, commission, or some combination?

• How involved can I be in the decisions?

• What are the steps you take to ensure the financial plan is best for my situation?

Perhaps even more important, evaluate your reaction after the initial interview. Does the consultant share your objectives and philosophy? Do you feel comfortable asking questions? Were your questions answered to your satisfaction, or did you feel rushed or dismissed? Were you pressured into making decisions you weren’t ready for? If the advisor makes you feel uncomfortable in any way, consider looking elsewhere. Establishing a good rapport with your advisor is essential.

Once you decide on an advisor, it’s crucial that you clearly communicate your goals. If you are 25 years old, your timeline and risk tolerance will be different from someone who is 55 and on the brink of retirement. A financial consultant should help find the balance that allows you to have the right amount of finances at the time you need them. Then, when you have your plan in place, schedule reviews regularly – at least once a year, or whenever you experience a major change in your financial or personal situation.

Regardless of your personal financial knowledge, a professional advisor can be an important part of your financial future. The consultants at DCU Financial have the knowledge and experience to help guide you toward your goals.

DCU Financial is a wholly owned subsidiary of DCU that provides members with investment, insurance, and planning options. To help meet a variety of client needs, DCU Financial offers two types of services which members can use – advice-based service or self-service. To learn more, contact a DCU Financial Consultant by calling 800.328.8797, ext. 6077, or send an email to financial@dcu.org.

DCU Financial
220 Donald Lynch Boulevard, Marlborough, MA 01752 • 800.328.8797, ext. 6077 • Email: financial@dcu.org
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