What to do when selecting a financial adviser

Mar 29, 2012

Working with a financial adviser requires some research.

Retirement planning can be confusing, and many consumers do not know where to begin. BMO Financial Group recommends consumers start by selecting a financial adviser to work with, as they peruse the available financial products to aid in their retirement saving.

When selecting a financial adviser, BMO recommends asking potential advisers what their strategy is for building a retirement plan, what licenses they hold and how often they communicate with their clients. These questions can help consumers gauge how the financial adviser will work with them to reach their retirement goals with life insurance, annuities and other products. The answers will also provide insight into the communication style of the adviser, which is key when developing trust with a client.

Once a financial adviser has been selected, McManus and Associates suggests discussing a variety of topics with them prior to making a purchasing decision. Financial advisers can help consumers understand how best to use a variety of financial products together such as life insurance, qualified personal residence trusts and grantor retained annuity trust.

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