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Investor 101: Working With Financial Planner Advisors

by anonymous

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You hired a financial planner after an exhaustive selection process to make your investments grow exponentially. Confident that your planner will handle investments you are spending time in retirement with the family. One day you hear that your investment has plummeted, though all the while you were given the impression that they are shattering records. Miffed? Most people, seniors in particular, find themselves in this situation when they lose sight of their investments and planners. By working with your personal financial advisor such nasty surprises can be avoided.

Connect with your advisor

You must work with your planner from the outset to outline performance expectations, risk tolerance the expenses to manage investments. Independent financial advisors love their independence but desire clear communication from clients on expected rate of return, liquidity, income, investment restrictions, meetings and reporting besides risks tolerance and expenses. These are the contents of an investment policy statement to be designed carefully after thinking things through. The performance and risks have to be calculated before they are put in writing. When designing your statement an advisor may give you inputs but should not be relied on to frame the statement for you.


While investors should allow planners leeway to come with up investments strategies, they should never lose sight of their investments. The easiest way to determine how their assets are performing is by closely monitoring advisors. Even if you hire top financial advisors ask for quarterly reports and set performance benchmarks. You must also have at your disposal tracking tools to independently track performance of your advisors. These tools can also help you make comparisons between two advisors or draw time-based comparison. Based on such reports you will be able to decide if you should continue with the existing advisor or hire a new guy.

Replacing the advisor

If you are planning on replacing your advisor, make sure that you do not err in selection. By interacting and monitoring advisors you will be able to take a call on continuing existing service providers. Should you take the call to make replacements, you must hire a personal financial advisor after verifying credentials with authorities. You could start searching by ‘minimum’ that advisors are willing to handle. It is advisable to avail services of free and independent organizations to check credentials and to research advisors for you. Such service providers maintain credible database where you can find competent professionals.

John is an experienced Content writer and publisher for Financial Planner Advisors. Visit at to know more about Financial planners and Financial Advisor.

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