Take control of your finances

For most people, managing long-term financial goals can be a very difficult task. Investments, pension planning, savings for your children's education - all of this requires specialized knowledge if you want it to be sustainable throughout your working life. That's where the support of a financial advisor comes in.

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Por Laura Jeeves

No matter what your age, it is never too early or too late to take control of your finances. While it is tempting to “live in the now” and enjoy a lifestyle using all your hard-earned money, if you want to ensure a comfortable life after reaching retirement age and stopping work, it is essential that you have plans to let that happen. For most people, managing long-term financial goals can be a very difficult task. Investments, pension planning, savings for your children’s education – all of this requires specialized knowledge if you want it to be sustainable throughout your working life. That’s where the support of a financial advisor comes in.

Get in touch with a professional

Hiring a professional consultant can be the best financial decision of your life; and this is not an exaggeration. A Do It Yourself (DIY) approach may be the choice for some, but if you want to make the best decisions on complex financial topics, a professional can be the difference between, for example, having a safe and comfortable retirement, or a retirement where you need to take care of every penny. Therefore, the decision appears to be obvious. But, how do you find the right person for you?

Personal testimonials and recommendations

It is not enough to go to the internet and commit to the first company or professional, which promises you worlds and funds. Do your due diligence, research, and take the time to read customer testimonials (not only on the company’s website but also on review sites). It is also worth asking your friends, family, or even co-workers, why a personal recommendation is very important. Most importantly, don’t rush into anything and try to meet with the potential financial advisor in person before making any decisions. A good relationship and a feeling of trust are vital.

Check accreditations

Choose an independent financial advisor. Thus, you are sure that it is acting in the interests of your maximum interests, in all aspects of your investments, without any corporate prejudice. A good professional will use an external company, in accordance with the adopted portfolio, to manage his responsibilities. And for those who speak Portuguese and live in Canada, when choosing an independent financial advisor, start your search among Brazilian and Portuguese professionals in the area. The language will facilitate the understanding of the list of applications and investments.

What services do they offer?

You must look at this relationship as something long-term. So, you need to know that, no matter what your needs are, now or in the future, you can have confidence in your skills and knowledge. For example, financial advisers must be knowledgeable in all aspects of retirement planning, including withdrawals, transfers, and taxation, as well as a range of investment strategies and ongoing portfolio management experience. Some companies employ specialists in each of these fields.

Check the Business Terms

Finally, before you sign anything, make sure you read the terms of the deal and fully understand the cost of the service. This should be clearly displayed on the website and also include your regulatory status.

The choice of the most suitable person or company for your investment and pension planning should not be taken lightly. Don’t be in a hurry, do research and make sure you feel comfortable and confident that the people who guide your financial decisions are not only qualified but also comply with all required regulations.

This post is sponsored by MB Group Tax Solutions