towards a financial plan and products that are right for you now and in the future
If you decide to see a financial adviser, especially if it is your first encounter, you should plan in advance by pulling together
- your relevant paperwork,
- your financial goals and
- a list of questions to ask.
An advisor will first need to understand your current financial position, your goals and how you feel about taking risks with your money. This will help them to recommend a financial plan and products that are right for you now and in the future.
These are questions that you may wish to ask a financial adviser:
- Are you approved by the MFSA?
- What experience and qualifications do you have?
- What type of advice do you offer: are you independent or do you represent and restrict your advice to certain products?
- What services do you offer?
- What are your charges?
- Do you offer an on-going service and how much does it cost?
- Are there any hidden costs?
- Can the cost be deducted from my investment?
- How do you assess whether a product or investment has the right level of risk for me?
- How often should I review my investments?
- Who will look after my investments?
Bad financial decisions can bury you financially. Advisers who have a credible track record and are certified to provide such advice can help you find / choose the right investment product that meet your needs and wants and may help you figure out the future worth of some of your investments.