11.3.5 Working with your financial professional
- 11.3.1 Professional advice
- 11.3.2 What kind of financial help do I need?
- 11.3.3 Video: Choosing a financial planner
- 11.3.4 Find the right financial professional
- 11.3.5 Working with your financial professional
- 11.3.6 Assessing your financial professional
- 11.3.7 Changing financial professionals
- 11.3.8 Summary of key messages
Your relationship with your financial professional is not one-sided. After all, it's your money, and you're in charge.
You can expect a qualified financial professional to:
- learn about you and your financial situation (financial professionals must use a formal Know Your Client or "KYC" form in many cases)
- carry out your requests promptly
- behave ethically and honestly
- fully disclose all risks and conflicts of interest
- make personalized recommendations
- clearly disclose the method of compensation.
- have a clear understanding of your values, your goals and your wishes in life—both short- and long-term
- have clear but realistic expectations about what you want your financial professional to do
- inform your financial professional of any changes to your personal financial situation in a timely manner.
Take notes of your contacts with your financial professional or other advisors, whether in person or on the phone.
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