Do you know the steps to choose a financial advisor ?

First of all congratulations for accepting the need for an advisor. It is almost more than 20 years of studies which helps you in making money. All these years it is all about earning and living a comfortable lifestyle.

Now the next big step is choosing a financial advisor. In the market all distributors and insurance agents will be in the name of financial planners or advisors. For every financial goals they will be selling an insurance policy. There are other distributors who sell products which come once in a while in the market. Only with financial planning you will be achieve all your financial goals. An advisor will help in realising it.

Therefore you should follow the below steps while choosing a financial advisor,

  1. Trust
  2. Credibility
  3. Returns
  4. Analyse
  5. Investigate
  6. Product Offerings
  7. Expense


Trust is something which will grow strongly over a period of time. Everybody in this industry calls themselves as financial advisors. Distributor of products, Insurance agents calls themselves as financial planners or advisors etc.

In the first interaction ask some basic questions like,

How long are you in this business ?

How will you serve me as an advisor ?

What should be my expectation from you ?

What should be the expectation from this planning we are going to do ?

From his\her reply, you can easily identify if they are trustable or not.


Next thing to look out from an advisor is Individual verification. As he is an advisor ask his license or credentials as an advisor.

If he is holding anything or not, it can be easily found out from his reply.

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It is impossible to make a promise and beat it every time in generating returns. No one as an advisor will be promising that he can generate huge returns.

If your advisor as promised then try to check his credentials right away. Also ask for the past data of generating consistent returns.


Get a general idea about your financial situation. Only when you start sharing about your family background and need for financial planning, they will be able to provide a solution.

Get an idea about your necessary insurance coverage, right investment products suitable for you etc.  Also your general queries regarding financial planning and with an advisor.


Analyse the meeting once it is over. Discuss with your partner about the meeting. If possible check the validity of information he has shared with you.

If you are still not sure, check out the financial advise provided by him. Compare it in google with other platforms.

Product offering

After starting to working together, check out the product offerings. Ask for all details if you are having any doubts in it. If you have any reservations on investing any of those products.

Share your researched products and ask for advise on investing in those products. At times this may bring out the true nature of recommendations from an advisor.


This is the most important of an advisor. His fee structure should be transparent. Some of the advisors hold Mutual fund license and they may get commission fees out of it.

Some of them will work on fee based model. Meaning there is no commission fees involved and you need execute by yourself.

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