5 Important Questions For Your Investment Advisor In Melbourne
Every investment advisor is not one and the same and a Melbourne resident who is in search of the best one for their needs is going to have to take a long look at the services that they provide. In order to learn more about each investment advisor from Melbourne that you are considering, you’ll need to read on and find out about the following questions.
By asking your prospective investment advisor in Melbourne these questions, you make the selection process easier on yourself and avoid the pitfalls that tend to keep well meaning clients from finding the advisor that is perfect for them.
1. What Is Your Experience Level?
The best advisors are those who have been there before and who have been in business for a significant period of time. There’s nothing wrong with seeking out advice from a number of firms, but at the end of the day, you are going to want to hear from the company that truly has your best interests at heart. Be sure to ask about the advisor’s level of experience and don’t allow yourself to settle for anything less than the best.
2. Are Your Services Comprehensive?
For some clients, the need for a comprehensive service is more than understandable. For others, they may require an advisor who is strictly focused on investments and nothing else. The advisor that you choose will depend on what services they provide and their ability to cater to your needs. If you only need the advisor to successfully manage your investments and nothing more, asking this question allows you to select the one that is just right for you.
3. How Are You Paid?
An investment advisor is not always going to be paid in the same way and you may have far more options available to you in this regard than you initially realize. Some advisors will have a flat fee that they require for their advice, while others may wish to work on a commission basis. Knowing exactly how the advisor is going to be paid is crucial to the long term success of your investments and your ability to reap the largest possible return.
4. What Is The Billing Frequency?
In addition to the all important questions regarding how the advisor is going to be paid, you also need to know more about the billing frequency. Are they going to require a payment on a monthly basis or is their payment structure reliant on annual billing? Other advisors may request a quarterly payment, while others are more apt to ask for a payment with each and every deposit that is made. You could also have the chance to pay through each of your investments.
5. How Often Are We Going To Meet?
This is a commonly overlooked question and one that you need to be sure to ask in order to receive the best possible advice. A top notch advisor knows how to establish a meeting schedule that works equally well for both sides of the equation and will never leave you without access to the advice you need during the moments when you need it most.