Your financial advisor* might not be the first person who comes to mind when you think about long-lasting relationships. But, why not? An experienced financial advisor should be prepared to help you find solutions for the life you want to live, at every stage of your journey. Whether you’re just getting started or already implementing a financial plan that will carry you through to retirement, we recommend you find that reliable partner with whom you can have an enduring relationship. With that in mind, here are three keys to establishing a lifelong relationship with your financial advisor.
Confidence
Your financial advisor should have a good reputation within your community or be referred by friends, family, or colleagues. Start by asking those people you trust for referrals. A qualified professional will be willing to educate you about the investment world. Your personalities should lend to a natural, comfortable fit so that a positive relationship will form over time.
Transparency
Your financial advisor should welcome your questions and eagerly help you understand how your money will be invested. You should expect a thorough explanation of the risks and performance metrics associated with your portfolio. And your financial advisor should be responsive. They should be pretty easy to talk to by phone, email, or regularly scheduled meetings. Your preferred mode of contact should work for them.
Tenure
Your financial advisor should have experience or work with an institution you know and trust. They should take a genuine interest in you and your goals, your financial situation, and your significant life events. Hopefully, they will be able to call upon their own professional or life experiences to help you as you make decisions about how you will plan for your future.
One way to feel more confident about your choice is to rely on someone with a CERTIFIED FINANCIAL PLANNER™ certification.** CFP® professionals have completed extensive training and experience requirements and are held to rigorous ethical standards.
* Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. UFCU and UFCU Investment Services ARE NOT registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using UFCU Investment Services, and may also be employees of UFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, UFCU or UFCU Investment Services. Securities and insurance offered through LPL or its affiliates are:
Not Insured by NCUA or Any Other Government Agency
Not Credit Union Guaranteed
Not Credit Union Deposits or Obligations
May Lose Value
** Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.