​Where to Get the Best Financial Advice

Finding a safe place to get the best financial advice is an essential component in sound financial planning. Let’s look at the various places you can find financial advice. Whether they are suitable for you (or not) depends on your situation and what you’re trying to accomplish. 

•  Know What Type of Advice You Need – One thing that stops people from getting the right help, primarily if they weren’t raised with parents who have a "guy" who does this, is understanding what type of financial planning and advice that they need. 
•  Your Bank – Your bank probably offers more financial services than you think they do. Make an appointment with one of the financial advisors of your bank to find about all the choices they have for helping you to manage and grow your money.
• A Certified Financial Advisor – A person who is a CFA has a license designation due to going to school and getting the education to become a financial advisor. They had to take a test, but the main thing is, to maintain the designation they must maintain specific standards and ethics. You can find advisors through your bank, Insurance company, and sites like financialplannersg.com. 
• Double Check Their Credentials – Wherever they say they got their credentials and licenses from, check up on it. You can look up the certification to find out more about it. 
• Know How They Are Compensated – There is nothing wrong with getting a commission. However, if you want unbiased advice, the best choice is someone who charges a fee for each visit that you make with them. Sometimes that’s a set fee based on what you’re going to talk about, and sometimes it’s an hourly fee. 
• Ask the Right Questions – When you find a few financial advisors to choose from, ask them the right questions to ensure that you’re a good fit. For example, if you already know the types of investments you’re interested in, ask if they have expertise with that product. 
• Check Their Background – It’s important to look at their credentials and search their name to find out if there are complaints about them before you start doing business with them. If they have references, ask for them and check them.

Sometimes the best person to go to for advice is someone in your family or a close friend who has done an excellent job with their finances. That person probably has a trusted advisor to help. Even if you use someone your family suggests, still check their background, though, to ensure that you don’t accidentally fall for a scam unknown to your family member or close friend.