What Makes A Good Financial Adviser

Providend

Choosing the right financial adviser is crucial to the success of any financial plan. While there are many financial advisers out there, always look for someone who puts your interests first. Watch this video to find out how the advisers at Providend help clients achieve their financial goals.

Watch this video as Max Keeling, Head of Expat Advisory at Providend, shares with you what to look out for when choosing a good financial adviser.


1. What Makes A Good Financial Adviser?

So a good Financial Adviser should be able to do four things: Firstly, they should understand how you want your investments to behave.

Secondly, they should proceed to create a plan that gives you that kind of behaviour.

Thirdly, they would also tweak the plan as and when needed as circumstance changes.

And then fourthly, they would also check the behaviour of your plan frequently.

2. As A Financial Adviser, What Do You Ask Your Clients To Better Understand Their Financial Goals?

Well, some things we would want to understand is what kind of lifestyle they’ve got now and how is that going to be different in the future so what do they want to achieve. And we’re going to be documenting their goals, and understand how much risk do they need to take to achieve those goals.

3. What Are The Tools You Use To Create Plans For Your Clients?

Well, a good Financial Adviser actually uses a lot of different tools – So at the front end, when we documenting what kind of lifestyle people have gotten, we might use templates. We also use different tools to document what clients currently got in term of financial assets.

Also, bringing in different team members when we’re looking in designing portfolios. We use various different data sources to go look at their historical performance of those portfolios.

And then lastly, we use different tools to then forecast their financial future to help us show clients what their future might look like, whether they are going to actually achieve their goals or not.

4. Under What Situation Would You Rebalance Your Client’s Portfolio?

So generally, when we set a portfolio, we’re trying to leave that for as long as possible and only change it as we need to. But in general, we don’t want to touch it too much but there might be circumstances and we have rules around that to make sure we do it in the best academically proven way possible.

5. How Often Do You Meet Up With Your Clients For A Review?

We want to meet with clients at least once a year to understand if their goals have changed. Then we’re going to look at how your investment portfolio is doing on an annual basis.

Although we are investing for the long term, we want to make tweaks or changes possibly as things evolved.

You want to make sure you find a Financial Adviser that can do all of those different things.


We do not charge a fee at the first consultation meeting. If you would like an honest second opinion on your current investment portfolio, financial and/or retirement plan, make an appointment with us today.

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