WORKING WITH A FINANCIAL ADVISOR

Six Steps to Help You Get the Most Out of the Relationship

By John Bussa

In conjunction with (Lincoln Financial Advisors a registered investment advisor)*

1.      Choosing Your Financial Advisor - One of the best ways to find a financial advisor is through a referral of a friend or relative.  Your accountant or lawyer may also be able to provide you with a referral.  Since they come with a recommendation from someone you trust, referrals can help you feel more confident about your choice of financial advisor.  You can also find a financial advisor by attending an investment seminar or reading the business section of your local newspaper.

2.      Set Up a Consultation - Your first meeting is an opportunity to become acquainted with the advisor and find out if you feel comfortable working together.  You should make sure a prospective advisor is a good match for your financial outlook and personality.  Ask the advisor about the types of clients he or she is currently working with and try to evaluate if your financial objectives are well matched to their areas of expertise.  Follow up with questions about education, experience, and qualifications.  Before selecting an advisor, you should feel confident that a prospective advisor can accurately explain the financial arena and the benefits of different financial tools.

3.      Discuss Your Goals and Obligations - In order to help you clarify your financial goals, your financial advisor will need detailed information about you and your financial situation, philosophy and risk tolerance.  Be candid about your income, debts, future obligations, current assets and anything else that may impact your financial situation.

4.      Ask Plenty of Questions - The more you know about financial planning, the more control you have over your financial future.  Use your financial advisor as a resource.  Financial advisors have access to current information that can help you better understand their recommendations and the performance of your plan.  And if you don’t understand something, make sure to ask.

Following these four steps can help you locate and have a successful relationship with a financial advisor.

John Bussa is a registered representative and investment advisor representative of Lincoln Financial Advisors Corp., 62555 Evergreen, Southfield, MI, 48076 248.827.4400 offering insurance through Lincoln affiliates and other fine companies. This information should not be construed as legal or tax advice. You may want to consult a tax advisor regarding this information as it relates to your personal circumstances.