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Your advisor should be able to understand your investment style and risk tolerance. He should have experience and knowledge to accurately supervise your investments. Someone who has counseled clients and experienced market fluctuations will never let you down. If your advisor has started, managed or owned a business, he/she will have experience that might benefit you. In some cases a formal educational background compensates for a lack of practical experience. But, in any case, it is important that a your advisor works in a team and has experts to fall back on.
Finally, find out if advisor has any complaints or disciplinary actions on file. For brokers and securities firms, call NASD’s Public Disclosure Hotline and to check on Registered Investment Advisors, call SEC’s Investor Education Hotline. Be careful that you don’t handover your hard earned money into unsafe hands. Above everything, use your own judgment. If you want your finances to flourish with time, it is essential that you choose right advisor.
Dan Noyes, write article and provide consutancy to Paladin Registry