Wealth Management Firms with Top Advisors: Top 10 Success Qualities
A good financial advisor will make you feel relaxed, will listen intently and interpret your needs. Top wealth management firms have advisors that possess certain traits that set them apart from the rest. Here are our top 10 attributes which comprise a top financial advisor.
1. They put your interests first - Professional advisors tailor your plan to meet your goals. They don't push products on you simply to meet quota or to get the biggest commission. Check whether your advisor represents a wide range of products and service options or if they're restricted to only proprietary solutions their company sells.
2. Excellent Communication skills - He or she must be able to listen actively, convey information effectively, and communicate information and ideas so their clients will understand it. Good advisors keep the lines of communication open, updating you on current financial issues and opportunities.
3. Extremely Patient - An advisor that calls you with urgent hot stock picks does not have your best interests in mind. There should be no sense of urgency when it comes to sound investing that leads to long-term growth. Finding an advisor who is patient and doesn't panic is critical to success.
4. Trustworthy/ Dependable - If you are feeling nervous, fearful, or stressed energy when around an adviser, trust your instincts and get the heck out of there. Advisors are responsible for the advice they give and the strategies they recommend. They must consistently do what they say they are going to do within a set timeframe. And they must always disclose the advantages and disadvantages of the each investment option.
5. High level of Integrity/ Honesty - Success as a professional financial advisor means conducting yourself with integrity and honesty and behaving ethically it’s not just about the money.
6. Very Reputable/ Experienced - Getting a strong referral from a friend or family member can be the first step in finding the right financial advisor. All legitimate financial advisors should have significant experience in the financial services industry. Whatever the case, be sure to verify your advisor's experience and credentials. Do your due diligence; it's your best protection to ensure you're dealing with a reputable advisor.
7. Highly Disciplined - You want an advisor who is always evaluating what options are best for you, but does not divert from a well thought-out strategic plan.
8. Willing to Educate – An advisor that withholds information or doesn’t take the time to teach you the basics is not a good one. Your financial planner should want you to know as much as they know.
9. Analytical thinker - We all have access to pretty much the same investment information. What separates the pros from the novices is the ability to logically analyze that information using specific knowledge and skills. No one can predict the future as our volatile economic times show us but good financial advisors can look at financial data and make the kinds of recommendations that help clients reach their financial goals.
10. They work with you - A good financial advisor will meet with you regularly throughout the year. That level of attention should continue every year of your relationship. Too many times, people meet with an advisor; develop a plan, and then simply get statements in the mail. In closing:
- They put your interests first
- Excellent Communication skills
- Very Patient
- Trustworthy/Dependable
- High level of Integrity/Honesty
- Very Reputable/Experienced
- Highly Disciplined
- Willing to Educate
- Analytical Thinker
- They work with you
These are the traits you should look for when looking for an exceptional financial advisor from a top wealth management firm. If you already have an advisor, always feel free to seek out second opinions. You are ultimately in charge!
About Charles Massimo
Recognized as industry expert and guest speaker at national industry conferences, Charles Massimo is a published author and media subject expert on topics ranging from wealth/asset management to investment and financial planning for high net worth families.