Asked on 16 Oct 2020
I think there needs to be transparency and both must be honest with one another to have the best relationship.
Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
Answered on 16 Oct 2020
Hi Anon, firstly I would encourage you to ask for personal recommendations from friends or family who would strongly advocate for their financial advisor.
Alternatively you can approach advisors who you may have come across on forums or social media that actively talks about their financial planning opinions and methds.
Once you've narrowed down a few, have frank conversations with them. Ask about their philosophy, their working practices, their thoughts and opinions, maybe case studies of existing clients that are alike to yours.
Come with a set of questions and have a feel on who you think is suitable to work with. You're hiring a Financial Advisor hopefully for life and both of you should be able to have a good, honest working relationship.
Above all, you should not be agreeing to anything that you are not comfortable this. This is regardless of whether it is to sign a policy, or even a meet up.
I did a survey last year to understand the same question that you have. Eventually, it narrows down to three points, 1) Knowledge, 2) Years of Experience, and 3) Character.
Altogether, most of the clients agree that character is the most important factor when they determine whether to trust the agent. For example, how does the agent conduct himself? Are both of you able to build mutual respect and trust?
Otherwise, there is no value in the partnership since most clients want to work with an agent for the long-term, and not merely a single transaction.
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