Is your money team in place? People you know and trust who will give you honest advice about your finances?
If you go on line and Google financial advisors you will get over 96 million results. Mortgage agents; over 53 million results. Insurance agent; 136 million results. Accountant; only 28 million. Real estate agent; 136 million. You know you need advice but how can you find the right people? People you can trust?
DON’T trust Google or any other search engine! Search engines are great but websites are written and tweaked by internet professionals who know how to get top rankings. Top rankings don’t mean the best people; they usually mean the most money spent on getting a top ranking website.
DON’T follow the crowd! Just because people think a person or company is the “Guru to go to” doesn’t mean that “Guru” will be the right person for you.
So how do you build your team?
Ask friends, family or colleagues for referrals. Interview and research online the people they refer you to. Have a set of questions prepared so that you can compare everybody the same way.
Read the testimonials you see online for the people you are meeting. Compare the testimonial to what you see and experience in the interview. Unfortunately some people only publish good testimonials and will even write them themselves.
Ask for references. Yes financial details are confidential but if you prepare a general list of questions around service you may be able to get references. Don’t let the lack of references stop you, it could mean the advisor would rather protect their clients than get your business and that’s a good sign.
Your team should have people who understand personal finances and your goals. Someone person who can get you investments that match your needs. A person who has access to different mortgages. A person who will get you the right life insurance for now and in the future. Real estate agents that will give you’re the right advice on the properties you look at. You need an accountant who will work with you on your taxes, income and estate.