Here is an excerpt from Regina Beatty’s appearance in Authority Magazine. She discusses the five most important things to identify before committing to a financial professional. What goes into the decision-making process when selecting a planner and how does that determine if the person is the correct fit for you and your family?
When asked if your loved one wanted to hire a financial planner, which five things would you advise them to find out about before committing? Regina gave her top five things she would advise a loved one to consider before committing to a financial planner.
- I would advise a loved one to work with someone who wants to get to know YOU, rather than spend most of the first meeting talking about themselves.
- I would prep them by making sure they ask FIRST, who you are and who you care about. Assets, financial information, etc., building the actual roadmap of the financial planning can all come later.
- Does the planner have expertise in the matters that most keep you up at night? Ask that person for specific examples about their experience and how they have helped others.
- Do they provide a vision of what it might be like to work with them? Ask for examples of how they have helped others in a similar situation to yours.
- Lastly, what is your investment in the process to be able to work with them?
All of the five points I mentioned should tie together to determine if the planner is a good fit for you and your family. Remember, the first meeting is NOT to buy or invest anything. It is a mutual discovery to determine what it looks like to work together, the costs involved and ultimately whether you can see the planner as a trusted member of your advisory team.
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