The following is a list of questions to ask when interviewing someone to manage your finances.
- How long have you been in this business?
- What type of returns can I expect?
- How many clients do you have?
- What is the minimum asset level for you to take on a new client?
- Are you in good standing with the SEC, NASD, and any other regulatory body related to your business?
❖ Broker Check Website
- How often do you contact and meet with clients?
- Do you offer any guarantees?
- What certifications and licenses do you have?
- How do you secure my investment assets and what insurances are involved.
- Do I have access to my investments?
When choosing a financial advisor the best place to start is to ask for recommendation from a friend, relative, your accountant, your attorney, or a business associate. Or, one may search the internet listing parameters required for your personal situation.
- Certified Financial Planner CFP
❖ Certified Financial Planners undergo studies and tests over a minimum of two years. The certification indicates an extensive overall knowledge of investing, insurance, risk management, taxes, and the financial planning process. The certification is monitored by the CFP Board of Governors and each certificate holder must commit to 30 hours of ongoing education every two years.
- Certified Investment Management Analyst CIMA
❖ The Investment Management Consultants Association (IMCA) oversees the CIMA certification and works in conjunction with the Wharton School of Business for testing and compliance with generally accepted investment review processes. Those with the CIMA certification are well versed in creating an investment policy statement and reviewing and monitoring the performance of investment managers. The continuing education requirement is 30 hours every two years.
- Certified Life Underwriter CLU
The Chartered Life Underwriter® (CLU®) is the world's most respected designation of insurance expertise. A CLU has an in-depth knowledge on the insurance needs of individuals, business owners and professional clients. CLU® candidates must complete eight college-level courses, five required and three electives. This designation also requires 30 hours of continuing education every two years.
The above list includes the most common certifications whose designation indicates extensive testing and continuing education. Investor needs vary and most do not carry all designations.
Choosing a Financial Advisor
Integrated Wealth Advisors
17295 Chesterfield Airport Road, Suite 200
Chesterfield, MO 63005