How to get the right financial advice

Putting your financial affairs in order may seem daunting but broken down into smaller tasks and professionals on hand, it's possible to substantially boost your assets.

Want a Good Financial Adviser - Ask These Questions

1. How unbiased is your advice?

2. How are you paid?

3. Can you justify the costs of the products involved?

4. Can you supply references?

5. Where do you get your research from?

6. Are your products suited to my risk profile?

7. What are your qualifications?

8. Can you tell me details about your firm?

9. Can you recommend an instant access high paying savings account?

via learnmoney

Five Rules To Maximize The Value You Receive From Biased Financial Advice

(1) Understand the incentives hiding behind the financial advice.

(2) Never confuse facts with opinions in the financial advice you receive.

(3) Not all financial advice is created equal. You must know the advisors background, education, training, skill and experience to decide if his advice has merit.

(4) You also can't understand a person's financial advice until you know how that person's pockets are lined.

(5) You should utilize financial product salespeople as information gathering tools designed to educate you, but don't invest based on their opinions.

via financialmentor

Tips for using a financial adviser

• Think about your financial situation and what financial goals you want to achieve.

• Speak to a few financial advisers from different firms before deciding who to get advice from.

• Ask about the financial adviser’s experience and qualifications.

• Always ask about what the advice will cost.

• Find out whether there are any restrictions on the financial products that the financial adviser can recommend.

via babycenter

10 questions that can get you started on your adviser quest.

Are you registered with the Securities and Exchange Commission, your state securities regulator or NASD (the National Association of Securities Dealers) -- or some combination of those three?

What professional credentials do you have -- CFP (Certified Financial Planner), CFA (Chartered Financial Analyst), ChFC (Chartered Financial Consultant) or some other?

How much experience have you had have working with individual investors?

Exactly what type of service or recommendations will I receive from you? Will you help me put your recommendations in place?

What will working with you cost me? And how will I pay -- a flat fee, a dollar-per-hour charge, commissions on the products you recommend? Will you disclose your fees in writing?

Will you earn any money from our relationship other than the fees or commissions I pay?

Have you had any run-ins with federal, state or brokerage industry regulators or ever had a client file an arbitration claim or other complaint against you?