How to Get Trusted Financial Advice and Minimise the Risk

If you’ve come into money and are looking to invest your new-found wealth, it can be tough to know where to put it. After all, every investment comes with its own risk and you want to be sure that your money is as safe as it can be.

Even more important than knowing what to do with your cash is knowing who to trust with it. A trustworthy, quality financial adviser will ensure that you’ll enjoy a steady stream of return on investment – while keeping risk to responsible levels.

How then can you find a financial adviser you can trust with your very last Dollar? Here are 7 tips:

1 – Ask around

It’s not necessarily the only way to find someone that you trust, but by asking around and looking online you can start to separate the wheat from the chaff. Which advisers and companies look most authoritative online? Who dispenses advice and is rated highly? Only when you do your research will you find the best advisers.

2 – No commission

Many financial advisers will operate on a commission basis – ensuring that, on top of a consulting fee they receive a small percentage of any profit from the investment. However, this process can lead to more risky investments and increase the likelihood of everything going wrong if worst came to worst. You want a financial adviser that’s paid purely for the advice they give.

3 – No selling products

Likewise, you should never talk to a financial adviser who stands to benefit from recommending you any financial profits.

4 – Full disclosure

However, sometimes there will be occasions when there’s a conflict of interests, or investment opportunities that are linked to a financial adviser. While these are undoubtedly complicated, they can occur and it’s essential that your representative agrees in writing to disclose any conflict of interests to you beforehand.

5 – They know when to say ‘no’

When you’re investing large sums of money, safety is certainly the most important thing to consider. A trusted financial adviser won’t just know where to invest, they’ll know when not to. What’s more, if you feel uneasy about a specific facet of an investment, they’ll respect your opinion.

6 – Making investments backed up by facts

Opinions are like belly buttons: everyone’s got one. But sound investments aren’t made on whims and feelings, they’re made after analysing facts and establishing how it’s affected investors in the past. Don’t just take your investor’s word for it – ask them for documents and make the decision yourself.

7 – They share their personal investments

If you’re talking to an adviser that isn’t practicing what they’re preaching and not putting their own money in the investments they’re encouraging you to look into, you should look elsewhere. If they’re confident they can keep your money safe, they’ll be just as confident with theirs too.

Author – Bartholomew Hawkins specialise in providing expert financial advice to anyone looking to invest large sums of money safely. Find out more online today.

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