What to Ask a Financial Advisor and Counselor


This is a very important decision in hiring someone to help you with your money. This person is actually a financial coach as they help you manage your portfolio or stocks etc. Here are some questions that should be asked before you hire anyone.

What is your experience?

This would include the type of help done for clients and how many years this person has in his job.

How are you qualified?

He could be a CFP practitioner or a certified financial planner, a public accountant, or a financial consultant.

What kind of services do you cover?

He could sell stocks or other financial products and maybe life insurance.

What approach do you take?

Does he give advice and someone else executes them?

Are other people part of this process?

Does he have assistants or attorneys or accountants?

If so, check on their background also.

How are you paid?

Is it an hourly fee or does he earn a commission from his sales?

Can I get all that in writing?

It is the job of the planner to offer you an agreement in writing covering the services he will provide to you.

This is a person who offers professional guidance to others about their personal finances. This type of job requires at least a bachelor’s degree and jobs vary depending on the field they are in. Because of this, the typical job description is difficult to determine.

If in the hospital setting, a financial counselor will help patients make arrangements for paying for hospital services. In the debt management company, the counselor would then teach customers how to budget their money.

When looking into classes for this field you should choose the related field as either marketing or finance. Some high school graduates can get hired with a BA but only if they show prior experience in financial matters. This would greatly increase their chances of being hired.

The pay for this type of work is good with the general financial counselor’s salary being in the range of $31,000 to $35,000 and that does not include bonuses.

A financial counselor is a person who helps individuals with their current financial situation. They find gaps in protections of assets and discuss the way in which to fill those gaps. This can be a lucrative position and is high on the list of jobs in the financial industry.

This person can also point out ways to increase the net worth as well as preparing future obligations for college and retirement. This is not a job for the weak. It takes energy and time and money to be knowledgeable in many facets of the financial industry.

This job is regulated by federal and state government so licenses are certainly required so the counselor understands legislation and planning concepts of the industry.

Both a securities license and an insurance producer license will be possessed by the counselor who can offer comprehensive services. Each state regulates its own laws and varies slightly in each state. Some states let you self-study from home where others require attendance in an approved classroom.

Leave A Reply

Your email address will not be published.