by Adrian Mastracci
Have you ever wondered how you can spot a good wealth advisor?
Quite simply, someone who puts your best interests ahead of theirs.
The service is typically centered around how to structure and manage your investment portfolio. Often, your needs include other issues like retirement and tax planning. Much of an advisor’s perspective on stewarding your wealth comes from experience.
Learning and applying that perspective in view of what you seek as a client is essential.
Here are ten signs you have a keeper:
- The advisor listens attentively and understands what is important to you.
- The advisor prepares your written retirement plan before investing begins.
- You are never asked to make the cheque personally payable to the advisor.
- The advisor is focused on your long-term investor profile, especially in volatile times
- Your portfolio accounts are held directly by a third party financial custodian, not by the advisor.
- The advisor takes time to explain concepts and strategies to you in simple and understandable ways.
- Your portfolio is prudently diversified as to asset classes and geography.
- All investment fees and costs are explained before you engage the advisor.
- The advisor’s web site describes the investment approach and philosophy.
- Investment commentaries and sample portfolio makeovers are available to you.
Adrian Mastracci is a Fee-Only Portfolio Manager and the principal of KCM Wealth Management, www.kcmwealth.com . He can be reached at 604-739-4500 or kcm@kcmwealth.com
