Investor Business Daily reports, “Choosing a financial adviser can be akin to a stroll through a minefield. If you don’t prepare, your wealth could get blown up by a Bernie Madoff or wounded by someone whose skills are mediocre or simply not suited to your needs. But with proper preparation, chances are you’ll find one of thousands of advisers who can help you set and achieve your goals.”
Meeting with a prospective adviser to understand how they get compensated for their services as well as determine your comfort level with that individual is essential. Addition insight into an adviser can be found in promotional materials, websites and professional certifications. You may also look up an adviser’s Form ADV, which lists complaints and disciplinary actions, online with the Securities and Exchange Commission or your state regulators.
A New York Estate Planning attorney would be a good referral source for a qualified financial adviser.
To view Investor’s Daily article which also includes The Certified Financial Planners Board’s list of ten recommended questions to ask when interviewing a financial adviser, click here.