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How to Tell if Your Financial Advisor Cares for You


How to Tell if Your Financial Advisor Cares for You - Samuel Rad Financial Planner
How to Tell if Your Financial Advisor Cares for You

When you get this feeling that all your advisor is interested in, is making money, you tend to lose faith in the advisor-client relationship. A good financial advisor is known for certain qualities that we’ll discuss later in this article.


In most cases, you will hardly meet with a financial advisor whom you had met only once and then never saw ever again. The first step to knowing that your advisor cares for you is to find him/her returning to you regularly to discuss changes in your estate status and financial situation.


You are, therefore, likely to depend on an advisor who will not only work for and with you, but also shall genuinely care about you and make an effort to help you achieve your financial objectives.


Qualities that tell you that your advisor really cares...

Takes personal care of your problems and/or objectives


To get a notion of this, it is imperative to find out whether your financial advisor is making an effort to understand both your overall financial picture as well as your future goals and the inevitable challenges?


If your advisor truly cares, they will take both time and the effort (that is required) to understand what you're struggling with and what sort of a financial future you’re dreaming about. Not only this but also, he would try and connect with you on deeper issues.


Talks openly about risks


A good advisor will discuss the risk with you vividly. Not only that, but he will also calculate numbers to show you practically where you’ll stand in terms of losing or gaining in various market scenarios.

Contributes whole-heartedly to your knowledge base too


Another hint that convinces you about the positive intentions of your financial advisor is when they take the time to educate you. Advisors, often try to sound professional by using too many financial jargons to clients. Clients, on the other hand, are expected to keep up, which actually prevents them from taking control of their financial futures.


Knowledge is important (when it comes to the profession of financial management); imparting it to the clients, possibly in a layman’s language, is even more important.


Leaving your planner’s office feeling confident about the topics that had been discussed, and not confused, is crucial.


Cares to pay attention to your non-financial concerns too

Money is not the actual problem. Money is indeed a problem-solver. It’s a tool to help you achieve all that you want out of your life. Your planner, therefore, needs to explore all your dreams, feelings, and purpose for life.


In a word, he/she needs to know what matters the most to you in life. The advisor would only help you allot money towards fulfilling your values.


He/she isn’t a person who just talks about money


You’ll know that your advisor really cares when he’s not all about money only! He would be concerned about you specifically apart from just bothering about what's in your wallet. Of course, you don't want to squander your time or your financial advisor's, do you? But you should be able to have casual conversations about matters other than your estate and portfolio.


Inquiring about your children or your most recent vacation is a good gesture. That’s an important part of your life to pay heed to, other than just financial assets.


In a nutshell, if your financial advisor genuinely cares about you, they will not be cold and unfeeling. They will be welcoming, open, and understanding of your financial challenges and goals, and they will work with you to find solutions to help you achieve them.