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traits of a poor financial advisor

5 traits of a poor financial advisor

by Holistic Leave a Comment | Filed Under: Financial Plan

How do we decide upon choosing a good financial advisor?

A person can be termed as one, who is a true value addition to your financial wealth as well as provides you with profitable advice to enhance your quality of life. In other words, any person qualified enough to advice you on your fiscal matters so that you gain the confidence to follow that advice. This was just a brief definition for a right financial advisor.

Now, let us look at the other side in more detail. Thereby, let us try figuring out a few points below to help you decide that the advisor with those characteristics is not the right one for you.

Behave in a condescending manner:

Not all clients seeking advice have to be necessarily cultivated and polished, on their financial matters. Such people may also take much interest in their money matters. Yet for a financial advisor, it is always a duty to explain the reason behind his course of action. Also, he should illustrate his financial product in a way that makes sense to the client end. In a case where you feel that your advisor is letting you down or fooling around you, then be assertive about never to trust upon such an advisor.

No reply to calls and/or mails:

It is obvious for a good financial advisor to be busy, but not so that he does not have a fair amount of time for his clients. Doing this should be unacceptable, and clearly shows your lack of importance in the advisor’s schedule. The optimal way, whenever a client makes a practical request, is to receive an early response to their queries. There is no sense in paying your advisor, if he is not devoting his sufficient amount of time into providing you the right financial advice.

Absence of honest opinion:

For a healthy relationship between client and advisor, an honest and open communication are two very important aspects. This should exist on both sides. Sometimes, the client may express his desire to go for a particular investment. In such cases, it is the duty of a good financial advisor to keep his client informed about the rights and wrongs of the particular financial investment. If the advisor does not do so, he is lacking in his service delivery. After all, it is the money of the client that the advisor is advising for. A good advisor will never flatter his clients, just for earning his commissions and fees.

Deny you seeking help from a third party overseer:

Never trust upon a financial advisor, who prevents you from having your account with a caretaker involvement in between. Wondering how having a mediator in between will be beneficial? A third party custodian will send you statements independent of your advisor, and in usual cases will also offer you the online accessibility for your account.

Focus on personal interests:

This is among the most common issues arising, when dealing with commission (or compensation) based advisors. For example, the advisor might recommend you for investments that may not be the best solution for you, but is beneficial for him otherwise. Therefore, it is always good to be alert and safe by asking more questions. This will help you understand your advisor’s compensation techniques, and check if the same can ever be a conflict of interest to the advisor in providing the apt advice.

Therefore, the points stated above should be considered as the least characteristics that one should look for in his financial advisor.

Conclusion:

For an advisor exhibiting any of these features mentioned above on a regular basis, is a clear indication for you to begin looking for a new financial advisor. If you want to check our own distinctive complete and comprehensive financial planning process will be suitable to you or not, then you may register for our

If you have any comments or questions, write them in the comment box below.

Or are you interested in creating a Comprehensive Financial Plan for your financial goals?

Skip the queue by registering for your 30 Minute FREE Financial Plan Consultation. Click the ‘‘BOOK YOUR SLOT NOW!’’ button below. 

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Jey S
Jey S
24. September, 2021.
I have been using Holistic Investment Planners for the last three years. Mr. Srinivasavaradhan answered all my questions and doubts very patiently during the first free consultation. I was able to clearly define my short-, medium- and long-term goals once I signed up for the comprehensive plan and got their investment plan suggestion to achieve my goals. They are very polite and highly professional whenever I contact them for any queries or make investments. They never pressurize you to invest on their recommended financial products. I would have been lost money by investing directly without their help since I do not have time and knowledge about different financial products. Risk planning is also done as part of financial planning. Truly, they are holistic planners when it comes to your financial planning. They help you to define your life goals, understand your financial resources and establish a plan to invest towards reaching those goals. They do review your plan as you progress to make sure that you are on correct path to achieve those goals. Kudos to the team and keep up the good work!!! I am happy that I found holistic investment planners for my financial planning and management.
aksaswadkar
aksaswadkar
24. September, 2021.
I was about to retire and really not understanding how to invest money to have financial freedom and fulfilling my goals. Was desperately searching on internet way out and fortunately came across Holistic Investment Planners. I read number of articles on their website and realized that this is the agency which I want and engaged their services for my retirement planning. It is an excellent experience to be associated with Holistic. Right from day one our interaction was fantastic and they gave me such a wonderful plan that I had never imagined. I am fortunate enough to be in the client list of Holistic. I have recommended Holistic to my friends as well.
Lionel Faber
Lionel Faber
16. September, 2021.
I've been availing their services for the past year. They are highly knowledgeable in the field and are very patient with all doubts and queries. Personalized financial planning is provided keeping your short term, medium term and long term goals in mind. They do not pressurize you to purchase schemes of their choice. They provide their input and suggestions and leave the decision up to you which shows their honesty and high principle.
Sridhar
Sridhar
8. September, 2021.
Financial planning brings peace in life. Holistic Investment have supported in arriving financial plan based on future goals. My investments are regular since then. They are professionals in their business, will recommend others.
Nitesh Agrawal
Nitesh Agrawal
6. September, 2021.
I have been using Holistic Investment Planners from last one year. The journey has been fantastic. Being a finance person myself I always thought we can look after and plan own finances also. However, due to lack of time and deciplain the things are not always as desired. After joining with Holistic Investment for the first time Icame to know the Financial goals and quantified them. Some dreams were unrealistic based on the earnings and savings so had a reality check. Also got the information and deciplain of investing on regular and more rewarding securities. I definetly suggest to use Holistic Investment Planners. They are professionals, available and hear youor full story before presenting plans. They are flexile in the sense if there are some urgent deviations required, they help to plan the same. For all professionals/individuals I would suggest using professional help of Holistic Investment Planners for best results in long term investment and financial goals achivements. Last advise will be to start early in your life. It really pays well to start in the beginning itself else the dreams needs to adjust :)
Swetha Vasanth
Swetha Vasanth
6. September, 2021.
This is my first year service with the Holistic Team and I would say that they are very much helpful in creating a financial plan and follow ups during the year. I would definitely suggest them if anyone who is willing to proceed with their savings professionally.
Joseph Mathias
Joseph Mathias
6. September, 2021.
I came to know about Holistic Investment Planners online while searching for different investment ideas. Once I contacted them the journey was very smooth. Mr. Ramalingam explained all the aspects of Financial planning in detail and it opened my mind. I realized how important it is to have a Financial planning. Mr. Rajan suggested all the requirements as per my goals and made a Investment plan keeping in mind of my goals. I started my Investment journey with them. I wish I had done it some years back then it would have been in a different level. Review meetings were held every six month to check the implementation of the plan and check the results as per the requirements and to check if any changes required. Overall it was a good experience with Holistic Investment team and would like to continue in the years to come.
Srinvas Kannan
Srinvas Kannan
30. July, 2021.
I came across Holistic investment planners almost 5-6 years back, but I did not have the trust since I had met a few of them who did not sound promising. Then I started investing through a financial advisor of my friend. After 4 years of investing the returns were very low. I was disappointed and started looking for financial advisors when I came across Holistic investment. I had a detailed discussion about my goals and the way they would approach achieving my goal before deciding to switch my investments to them. After a thorough analysis of my then existing portfolios, they suggested new ones and we zeroed-in on 6 schemes/funds where our investment would be split. I am glad I made the decision of switching over and taking Holistic planner's advise, my returns are handsome and I only wish I could have taken their help/advise 5 years back itself. Neverthless, I would like to recommend their services for investment and financial advise if someone is serious about their investments.
Shivaram Andiappan Selvaraj
Shivaram Andiappan Selvaraj
3. July, 2021.
I got a free first time consultation. I got my doubts resolved. They also gave additional advises for investment planning which was also useful.
Nellai B
Nellai B
26. June, 2021.
I have been associated with them for the past three years. They are very professional and polite in answering all our questions. I have complete trust in their suggestions. I strongly recommend for anyone. I am looking forward to have strong and successful association with them.
Google rating score: 4.4 of 5,
based on 61 reviews

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