5 Red Flags - Finding the Best Financial Advisor Services Gurgaon!
How do you find the best financial advisory service? This question has bothered every potential investor since the time we have had the provision of hiring advisors. And for those who have lost some money by hiring the wrong advisors, it is imperative to know how to find the right one. Some people lose faith after being the victims of several fraudulent situations, but just because you had hired the wrong advisor doesn't imply that you should stop investing money. We will tell you about the 5 red flags to spot while choosing financial advisor services Gurgaon!
The advisor isn't open about compensation: Financial advisors often dodge this question but you should pursue them till the end. Ask them how they make their money and how you would be charged. Will they charge a fixed percentage of commission on every investment, or will they share a percentage of the profit?
The advisor doesn't tell you about his qualification: A lot of financial advisors try to change the subject when you ask them about their educational qualification. They might tell you about their experience in a bid to satisfy your doubts about their expertise. But never fall for this! Only a skilled and qualified advisor with degrees such as CFA, CFP, and the likes can advise you the best.
The advisor promises you the highest returns, always: It is extremely difficult to make money at all times. The market is very volatile, and only someone like Warren Buffet can break the secret code! But it is not easy for every advisor to do the same. If your advisor promises to make money even during a bad phase, then he/she is definitely putting your money to a lot of risk
advisor asks for a check bearing their name: If you are investing money, you will always need to write a check to the concerned company. For example, if you are putting money in UTV's FD scheme, then you will need to write a check in favor of UTV. If your financial advisor tells you to write a check in his/her name, then it is a major cause of concern. You never know when they might just magically disappear!
The advisor hasn't ever asked about your situation: It is the duty of every financial advisor to ask about their clients' financial standing, sources of income, assets, both long and short term goals etc. This can help them in determining the best possible investment options for their clients so that their goals are achieved within the designated time. Be wary of advisors who don't ask you about your situation during your initial few meetings.
The advisor isn't open about compensation: Financial advisors often dodge this question but you should pursue them till the end. Ask them how they make their money and how you would be charged. Will they charge a fixed percentage of commission on every investment, or will they share a percentage of the profit?
The advisor doesn't tell you about his qualification: A lot of financial advisors try to change the subject when you ask them about their educational qualification. They might tell you about their experience in a bid to satisfy your doubts about their expertise. But never fall for this! Only a skilled and qualified advisor with degrees such as CFA, CFP, and the likes can advise you the best.
The advisor promises you the highest returns, always: It is extremely difficult to make money at all times. The market is very volatile, and only someone like Warren Buffet can break the secret code! But it is not easy for every advisor to do the same. If your advisor promises to make money even during a bad phase, then he/she is definitely putting your money to a lot of risk
advisor asks for a check bearing their name: If you are investing money, you will always need to write a check to the concerned company. For example, if you are putting money in UTV's FD scheme, then you will need to write a check in favor of UTV. If your financial advisor tells you to write a check in his/her name, then it is a major cause of concern. You never know when they might just magically disappear!
The advisor hasn't ever asked about your situation: It is the duty of every financial advisor to ask about their clients' financial standing, sources of income, assets, both long and short term goals etc. This can help them in determining the best possible investment options for their clients so that their goals are achieved within the designated time. Be wary of advisors who don't ask you about your situation during your initial few meetings.
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