financial advisor

It requires time and practice to handle different aspects of finance effectively. Even more, time to gain expertise on the same.

One way for you is to do it yourself (DIY), which is a possibility these days with so much available content over the internet. But here we are talking about your hard-earned money, and hence it becomes even more important not to take the risk.

Since you would lack in-depth know-how of finance and would take a lot of time to learn, you should practice and gain expertise in making the right kind of financial portfolio to meet your financial needs.

Consider taking help from a financial guide

Here comes in handy the role of a financial guide, who would help you handle your financial functions such as budgeting, investing, tax planning, savings, and creating a diversified portfolio for your financial goals.

These are expert financial professionals who know the technical know-how of finances and are known as financial Advisors. They can also help people who have taken loans in Dublin with bad credits.

They will help you to manage your finances, plan and align them with your financial goals.

Aspects to consider while selecting an advisor

Let us help you with some of the important aspects to consider while selecting a financial advisor for your short and long-term financial goals.

Enriching Work Experience

First and foremost, the thing to consider is your financial advisor’s experience and professional background. Your financial advisor must have adequate experience in dealing with different clients in financial markets. It is the utmost criteria for selecting the advisor.

Since you are handing over your financial decisions to another person, making sure they are well qualified is important. Also, try to ask for references so that you can discuss your prospective advisor deals with clients.

You can also look for advisors who have experience in working through multiple economic cycles. Different economic cycles teach a lot about financial decisions and their repercussions to anyone who is in the market.

Such experienced advisors can guide you better across economic cycles and macro-level policy changes. Any formal degree or diploma, or certification regarding financial planning would be an added advantage to their experience.

Check for proper licenses

Sometimes these advisors have a license for a particular category of financial instrument. They are allowed to sell only those instruments to you. For example, an insurance selling person would hold the license given by the insurance regulatory authority.

Similarly, searching advisors for your mutual fund or stock market investments look for people with certification from the concerned bodies or associations. Checking the licenses of your financial advisor will ensure you hire and deal with a certified expert.

Clients Your Advisor Is Managing

It is also important to check the type of clients your advisor is managing. Like doctors, financial advisors also specialise in handling different types of clients they are best suited for.

These specialised advisors are well equipped to provide customised solutions to their clients. An advisor specialising in financial planning for salaried professionals would better understand their needs and cash flows and hence would be able to guide better measures and steps.

For example, people from Ireland take everyday loans for their financial needs but often get stuck devising a strategy to meet their financial liabilities. Some financial advisors hold expertise in managing financial liabilities.

You should always check if the advisor is handling people you know or from your circle. Asking for reference or word of mouth recommendations is one of the best ways to ensure getting an experienced financial advisor for your goals.

Do not forget to check old track records, previous and existing clients, and experience with that financial advisor.

Communication skills

The financial world is all about technical terms, mathematical algorithms and is full of industry jargon. For sure, these all are difficult to comprehend for you as a common man. And hence this makes the communication skills of your financial advisor even more important.

The financial advisor should be able to understand by their ability to communicate make you understand the complex jargon and terminologies of the industry. He should be able to explain complex things in simple steps and suggest specific actions required to be taken.

Ultimately you should understand what needs to be done and how to be done in simple layman language.

A good advisor will always be patient to understand financial pain points and will recommend the corrective measures to you.

To check the communication skills of your advisor, you can try checking their objection handling strategies. If your advisor can handle your objection effectively and convincingly, you have won half the battle.

Professional fee

Many aspects are considered and included while deciding the fee. The amount of time to be expected from the adviser, their expertise and experience, and the extent of their control on your decisions are some of the key factors. Even the extent of service provided over a longer period is also considered while deciding the fee.

This makes it even more important for you to understand the fee structure and align it with your financial goals. A higher charging advisor might not be the best suitable for your needs, and likewise, a low charging advisor may not offer you the quality of services you may need.

It is better to have a clear discussion at the beginning and set the relationship with your advisor. Set the stations from both sides, the frequency for the extent of involvement for the extent of to make decisions regarding your portfolio etc., should be discussed.

Interview Multiple Financial Advisors

It is a matter of your hard-earned money and investments. There is no shame or harm in meeting and interviewing multiple financial advisors to find the best suited for your needs and goals. While talking to advisors, ask them to describe the various client experiences they have had in the past.

Various other questions about how much they listen and understand, how they make you understand, how best they explain the suitable options, how they measure client success and how would they approach to achieve it etc., would help you interview your advisors better.

You may ask about the other resources that you will be made available as a client. No one can be an expert in all aspects of financial matters. You must ask and understand what your advisor specialise in or have access to experts in the industry.

And knowing your advisor will allow you access to specialised expertise and hence will reassure you would not outgrow your advisor’s capabilities.

Be upfront and honest with your asks. Let the advisor bring to the table his experience and expertise too. You also share your financial situation, challenges and goals or objective with the advisor.

You will work with the advisor who will plan for you and your goals and hence suggest what is best for your situation and needs. Therefore, transparency plays a key role.


In today’s world, you are trying hard to save your hard-earned money and get the most out of it. Especially economies seeing such ups and downs, regular ups & downs are happening with financial instruments and their effectiveness. In such a dynamic and complex environment, it is very difficult for a normal person to understand and take suitable decisions.

And hence unearths the need for a financial advisor. A person who understands your needs the best and provides you with the best solutions. They are experts and work around the industry day in and day out and hence are the best to guide you in the right direction.

Leave a comment

Your email address will not be published. Required fields are marked *

Apply Now