Financial planning and advisory aren’t just for the rich. Gaining good financial advice early in your professional career can significantly impact your long-term success. However, only some financial advisors are interested in working with small to medium-sized businesses. In recent years, many companies have stopped paying brokerage fees for accounts deemed small, including accounts with assets in the $100,000 to $500,000 range. Additionally, companies below these minimum fees can charge up to 2% of the annual fee, but 1% is more common.
This brings us to the question; what should a mid-income business owner do to find a good financial advisor? According to the experts, you need to understand a few critical elements of the financial advisory industry that will help you find an excellent financial planning advisor near me.
The factors and elements that you need to assess are as follows:
- How much would financial advisory cost?
- Where can you find a financial planning advisor near me?
- What is the success rate of the financial planning advisor?
- What questions should you be asking?
- How can you avoid fraud?
Things to consider when looking for a financial planning advisor near you
Here are some things to consider when looking for a local financial advisor:
Size of the company – Financial advisors can run their own small business or be part of a larger company like MCLICI. Neither is necessarily better, but it’s worth considering which style best suits your needs.
Qualifications – Anyone can call themselves a financial advisor, so it’s essential to see what comes after the advisor’s name. What qualifications and certifications do they have?
Expertise – Before choosing a consultant, consider whether you will meet with them online or in person. Additionally, consider how the expertise of your financial planning advisor can benefit you.
MCLICI helps you with financial planning advisory
Choose MCLICI’s financial advisory service and scale your business to success. MCLICI is the best to get the best return on your investments. Moreover, MCLICI helps you in sorting your business; finances strategically. Thus, you’re always on the winning side.