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What Should You Expect From a Financial Professional?

Filed under: Retirement, Taxes and Planning, Estate Planning, Financial Planning

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Do you work with a financial professional? Or are you considering a new relationship with one? A financial professional can be a valuable addition to your planning and strategy, providing key insights and making helpful recommendations so you can reach your biggest financial goals.

However, it’s important that you work with the right financial professional for your needs and objectives. Not every professional is the same. Some specialize in certain needs or specific types of clients. Some may not have the qualifications or skills that are right for you.

What should you expect from your financial professional? And how can you know whether it’s time to consider a change?

Below are a few key things every client should expect from a financial professional. If you aren’t getting these out of your current relationship, it may be time to explore other options.


Transparency about compensation.


You probably know that your financial professional is compensated for providing service and advice. But do you know exactly how they are compensated?

There are a few ways in which financial professionals can be compensated. They could earn commissions for specific products or investments. They could charge a fee based on your asset level or the services they provide. Some professionals even charge an hourly fee based on their advice and input.

There’s no right or wrong answer on how your professional should be compensated. What’s more important is that yours is clear, upfront and transparent with you about compensation so you can make an informed decision on whether it’s right for you. If you’re unclear about how your professional is compensated, it may be time to have that conversation.


A proactive approach to planning.


How often do you hear from your financial professional? Do they proactively reach out to you? Or do you only hear from them after you’ve placed a call or sent an email?

An effective financial professional brings ideas and advice to the table before issues arise. They should proactively reach out to you to schedule reviews, discuss new ideas and address any concerns you may have. If your financial professional is a reactive communicator, you may want to reassess the relationship.


A willingness to tell you when you’re wrong.


Financial professionals recommend tools, products and even investments. However, their most valuable service may be to act as a sounding board for you to express ideas and concerns. Very often, the best professionals simply keep their clients focused on their long-term strategy and help them avoid impulsive gut decisions.

Your professional should be confident enough in his or her knowledge and recommendations to tell you when he or she disagrees with your line of thinking. If he or she seems all too eager to agree with your concerns and ideas, you may not be getting all the information you need to make a sound decision.


Comprehensive advice and insight.


Your financial professional shouldn’t just be someone who manages your investments or sells you insurance products. They should also be someone who can help you analyze your entire financial picture and make comprehensive planning decisions. If they only seem interested in selling you new products or investments, you may want to explore other options.


Want to learn how a financial professional can help you reach your biggest goals? Let’s talk about it. Contact us today at Ambrose Financial & Insurance Services. We can help you analyze your needs and goals and develop a strategy. Let’s connect soon and start the conversation.


Licensed Insurance Professional. This information is designed to provide a general overview with regard to the subject matter covered and is not state specific. The authors, publisher and host are not providing legal, accounting or specific advice for your situation. By providing your information, you give consent to be contacted about the possible sale of an insurance or annuity product. This information has been provided by a Licensed Insurance Professional and does not necessarily represent the views of the presenting insurance professional. The statements and opinions expressed are those of the author and are subject to change at any time. All information is believed to be from reliable sources; however, presenting insurance professional makes no representation as to its completeness or accuracy. This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. This information has been provided by a Licensed Insurance Professional and is not sponsored or endorsed by the Social Security Administration or any government agency.

18280 – 2018/11/28