Rani Jarkas – 5 Considerations When Seeking a Good Financial Advisor


Financial advisors are not just for the wealthy or those planning for retirement. Anyone could use a financial advisor to manage, grow, and preserve their wealth. You don’t need too much supplementary income to seek their advice or start investing. Their expertise and knowledge can be helpful when you need some assistance with budgeting, finding the best strategies to save, managing debt, and selecting the right financial products.


If that sounds convincing enough to hire a financial advisor, here are five things to consider so you can find the right person.


  1. Know the options

Check with your financial institution, like your bank or insurance provider, for resources and tools that could aid your advisory requirements. If these are insufficient for your needs, seek a versatile and certified financial advisor like Rani Jarkas for tailored solutions and advice. You can also look into budgeting apps and robo-advisors, especially if you don’t have many assets.


  1. Determine your financial goals

How well do you know your financial and life goals? Financial advisors will want to know them, too, so they can create the best financial strategy for you. Knowing those things can also give insight into choosing the best advisor who can navigate specific needs, circumstances, and life events.


  1. Identify their credentials

Find a certified financial services executive with the proper credentials, such as CFA (Chartered Financial Analyst) and CFP (Certified Financial Planner). That means they are expected to act as fiduciaries and are required to work in your best interest. Verify the legitimacy of the advisor’s credentials on the SEC website.


  1. Know how different institutions vary in their advice

Advisors employed by a financial services company have limits to the kinds of clients they work with and may provide only the solutions offered by their employer. Independent advisors and specialists like Rani Jarkas have more control over how and whom they advise.


  1. Know how the advisor is compensated

Some financial advisors have an hourly or flat rate, while others get commissions from financial and investment product providers. Fees are typically calculated based on the money an advisor manages for you, ranging from 0.25 percent to 1 percent of your managed assets. Financial advisors who charge per hour can be practical when you require a generalized financial plan and don’t have too many assets.