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How to Choose a Good Financial Advisor – A Lawyer’s Perspective

Choosing a good financial advisor and finding the best one for you is similar to interviewing a job seeker. In the real estate planning field, we can offer some of the criteria we were looking for based on our experience working with financial professionals.

Qualified recommendation: Did the candidate come to you or did you contact him/her based on a qualified recommendation? In other words, is the candidate someone you referred to because they had proven success with their clients, or someone you referred because a trusted person made the recommendation? You can also choose the best financial planner in Dubai.

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Remember, consultants work in a business that relies heavily on referrals. Consultants are also active in sales. Therefore, they often seek recommendations from new customers who still have to "qualify" recommendations based on empirical evidence of their consultant's actual performance – even though the customer may have received good advice or service and therefore want to advertise his consultant. .

Don't be fooled by guarantees: If your advisor guarantees something, be very skeptical. Some financial instruments, such as monetary value over the course of a life insurance policy, may have guaranteed protection from investors.

However, if a third party holds your money or assets, even if FDIC insured, there is no 100% guarantee – although some financial instruments are safer than others. In fact, guarantees of financial products or other plans can cause consultants to have problems with their regulators.

Good condition: No objection to simply asking the consultant's good condition with his permission and/or disciplinary action taken. You can even ask him to provide a document showing "clean records". Why not? The employer receives the previous check on the employee.