My husband and I have been meeting resistance from our financial planner these days. We (okay, I) had wanted to purchase a summer house in beautiful Tagaytay Highlands, which had with it free golf membership. He said no. I wanted to buy a foreclosed house for which I would pay a pittance for. He said no.
It could be quite frustrating to be told that you cannot buy something that you really, really want. But that is the function of a financial planner - he will tell you if you can, when you can, how you can. He is my personal financial brakes, someone to tell me that I am going overboard, or that I am just being silly.
But how does one find his financial planner under normal circumstances? Well, there is no short cut except conduct those interviews. I suggest that you try a financial planner for at least a month (kind of a trial period if he is willing) before the fee arrangement is inked and money passes hands. Find out if he is someone who will:
* Protect your interest (not suffer from conflict of interest, i.e., promoting investment vehicles because he will get a percentage from it unless this is your arrangement).
* Listen.
* Create the best financial frame of mind for you (after all, wealth starts in the mind)
* Time for you.
* Gutsy and brave enough to say yes or no to you what you perceive are your dreams and life goals (really a sensitive topic).
* Respect you.
* Willing to share part of the blame for wrong decisions you made because of his advice.
* Enough experience to keep from giving you bad advice.
A financial planner, like you, is in it for the money. But the crucial element, which I hope you will see in the trial period, is that he should make money for both of you, or appear to do so.
