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Rakhi Vasavada
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4545
Experience:  Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
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What factors should I consider when selecting a financial adviser,

Resolved Question:

What factors should I consider when selecting a financial adviser, fees being an obvious one. How are fees worked out. What other questions should I ask at this stage. Also a little apprehensive about this, little knowhow in financial/pension matters, and concerned about being led into making unwise decisions through lack of experience.
Thanks
Submitted: 2 years ago.
Category: Finance
Expert:  Rakhi Vasavada replied 2 years ago.
Dear Friend, Hello and welcome. Thank you for providing an opportunity to assist you. Let me try and make matters simple and uncomplicated for you. Just bear in mind the following things. 1. Look for FEE ONLY Adviser. This remuneration should not be linked to any performance or any such thing.2. When you decide the asset allocation for the money you have to invest in, make sure that your risk profile is properly understood by your adviser.3. By this I mean, For Example - when you decide where to invest, you may want to make sure that you invest more in debt instruments than in equity. This will better protect your money and ensure safety if this is one of your concerns. . Another example is -- If you are planning to invest in real estate, you will have to take care that the area that you purchase your property is liquid. Let me take this further now. There are directories Financial Professional Bodies. Please refer to the following links which will help you find one such adviser. http://www.financialplanning.org.uk/wayfinderhttps://directory.moneyadviceservice.org.uk/en I am sure this would help. I wish you good luck.You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.Warm Regards,
Expert:  Rakhi Vasavada replied 2 years ago.

Dear Friend,

Hello and welcome. Thank you for providing an opportunity to assist you.

Let me try and make matters simple and uncomplicated for you. Just bear in mind the following things.

1. Look for FEE ONLY Adviser. This remuneration should not be linked to any performance or any such thing.

2. When you decide the asset allocation for the money you have to invest in, make sure that your risk profile is properly understood by your adviser.

3. By this I mean, For Example - when you decide where to invest, you may want to make sure that you invest more in debt instruments than in equity. This will better protect your money and ensure safety if this is one of your concerns. . Another example is -- If you are planning to invest in real estate, you will have to take care that the area that you purchase your property is liquid.

Let me take this further now. There are directories Financial Professional Bodies. Please refer to the following links which will help you find one such adviser.

http://www.financialplanning.org.uk/wayfinder

https://directory.moneyadviceservice.org.uk/en

I am sure this would help. I wish you good luck.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards,

Rakhi Vasavada and other Finance Specialists are ready to help you
Customer: replied 2 years ago.

Thank you. Could you please describe what is meant by debt instrument and equity, and "liquid" real estate.

Expert:  Rakhi Vasavada replied 2 years ago.
Dear Friend,

Hello and welcome again.. Thanks for your reply.

Let me come straight to the point.

1. Debt means -- Debentures, Fixed Deposits, Corporate Deposits (also known as Company Deposits), Bonds, etc.

2. Equity -- Equity and equity linked instruments include equity shares ( also known as common shares normally purchased from stock exchanged through broker). Equity linked instruments means mutual fund units.

3. By liquid asset means -- Any asset that you ensure you liquidity. I mean any asset which is easily sellable when you want it to sell. Your investment should not get stuck in that asset.

For example, investment in real estate is LESS liquid than Shares.

I hope this makes sense. Let me know without any hesitation if you need more help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards