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Thursday, February 29, 2024

Choosing a Financial Solutions Provider

You’re now waving the proverbial white flag. By that we mean, you’ve finally accepted that you’re in a bit of a financial pickle, and further, you can’t resolve it by yourself.

Perhaps you need help with debt, or you’re simply unsure what to do with cash that is so far just sitting.

But where should you turn? After all, there’s no shortage of people who will purport to be able to help you.  You do want to exercise care here, though, as the wrong choice could not only not move you forward but could potentially set you back.

With that in mind, here’s what you should know about choosing a financial solutions provider.

Make Sure Your Adviser is Qualified

Just as you wouldn’t seek an unqualified person to do your dental work, you don’t want someone who isn’t qualified to help with your finances.

Ask to see the credentials of the adviser in which you’re interested. The individual should be a certified financial planner who has met requirements established by the Certified Financial Planner Board of standards.

Now, if you’re seeking help in the investment research and portfolio management space, you want someone who has the investing credential of Chartered Financial Analyst, which is issued by the CFA Institute.

If you need a Certified Public Accountant with expertise in financial and wealth management, a Personal Financial Specialist may be the person for you.

However, if your situation involves a lot of unsecured debt, such as from credit cards, we recommend Achieve to resolve it.

Make Sure You Trust Them

Credentials aside, it’s also important that you trust the person you want to help guide you financially. After all, trust is crucial to any healthy relationship. So, it’s recommended that you get referrals from someone you do trust, or simply select an advisor who represents an established, reputable, and respected financial institution.

Make Sure They Have Resources

You want someone who has tools, or access to them, that fit your specific needs. We’re talking specialist support services and solutions from reputable and credible companies or institutions. Such connections to established resources will also provide the peace of mind that comes from knowing that, should something happen to your adviser, you’ll already have the connections to establish another relationship.

Make Sure They Take a Personalized Approach

If a prospective adviser goes on an on about how they’ve discovered an MO that will universally work, turn on your heels. Your money is certainly not where you want a one-size-fits-all approach. While it’s okay to harbor a certain philosophy when it comes to financial management, what you need is a tailored approach that’s designed with your finances in mind.  Such an adviser will also be able to shift gears as your circumstances change, so that your finances stay on track.

Make Sure They’re Enthusiastic

Naturally, you want to determine that your adviser is qualified, has the right connections, is trustworthy, etc., But you also want them to be passionate about what they do. Such zeal signals commitment, which is what you want when it comes to financial guidance.

Make Sure You’re Comfortable with Them

This is related to the trust factor, but you must also feel comfortable with your adviser. The relationship should be “easy,” in that you feel comfortable expressing your thoughts and opinions, and that you feel “heard.” Shy away from know-it-alls or those who don’t know how to effectively communicate. 

Ultimately, choosing a financial solutions provider is something you want to get right. After all, your choice can make the difference between helping you … or not. If you have a debt situation and it’s acute, we’ve found Achieve to be the best choice to resolve it.

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