Working with a financial consultant is a smart step for any adult to take. Throughout your life, you’ll incur a wide range of expenses. Everything from purchasing a home to getting married will impact your financial future. By coordinating with a professional, you’re much more likely to achieve your own long-term financial goals.
You’ll get the best possible results if you ask them certain questions during your initial consultation. Although the specific questions worth asking will vary from one person to another, the following should be on your list when you meet with a wealth management professional.
How do you determine a long-term investment strategy?
Every financial consultant is different. Although you should feel confident you’ve hired a qualified individual who can reliably offer the services you need, you should also understand their overall investment philosophy will likely differ from that of another professional in the industry.
Learning about their approach to developing an investment strategy helps you better understand how they help you strengthen your financial wellbeing. Although you may not understand all of the technical details if you lack professional experience in wealth management, you’ll feel more confident in your future if you learn more about your consultant’s general investment philosophy.
What additional services do you offer?
The fees you pay your financial consultant will cover key services. However, they may not cover every service your wealth management professional offers. For example, there are consultants who may specialise in helping you identify potentially strong stock market investments, while also offering retirement planning services.
That might also be a service that’s valuable to you. Learning what you’re paying for (and what else your consultant may be able to do for you) allows you to determine if it’s worth your money to pay additional fees for additional assistance not covered under your current agreement.
How do I contact you? How often can we meet?
A wealth management professional is a partner. They’re someone you can turn to when you need help making arrangements for your financial future. However, they are also likely going to be a busy person, with other clients they need to serve. They need to strike a balance between providing you with the attention you deserve and addressing the needs of their other clients.
You likely already understand this. Thus, you should discuss how you will generally stay in contact with your financial consultant, and how often you should expect to meet. This will give you a better sense of what degree of communication you should expect to have with them.
Again, working with this type of professional offers major benefits to anyone. Get started by contacting our Glasgow team at Maxim Wealth Management today. Give us a call on 0141 764 0040 to schedule an appointment.