Can a financial advisor be trusted?

[klassicdoll]

Here are five signals that your financial advisor is trustworthy:

1. Your advisor discusses risk candidly.
2. You are aware of the fees that you are paying.
3. Your advisor tries to impart investment knowledge to you.
4. Your advisor requests frequent meetings so they can go over your portfolio.
5. Your advisor is aware of and concerned about your objectives.

 

[eLdavis]

Not all financial advisors can be trusted, afterall they are also humans. Some of them do not actually want you to excel more than them.

 

[freelancermaria]

There are some financial advisors who are not transparent. They are not honest about the hidden fees, etc.

 

[Starmix]

Financial advisors are professionals, they're protecting their reputations that's why they're always transparent. If they ask more than we expect, we can ask for a discount. They will grant our request.

 

[Suba]

It is rare for individuals to need a financial advisor, except for those who have complex and long-term personal financial problems. Of course you can trust a financial advisor, because they work and have a business license which is not easy to obtain, besides their role (financial advisor) is only a financial matter, not in the form of physical money or investment instruments. and they also do not endorse certain instruments.

 

[Springtime]

Here are five signals that your financial advisor is trustworthy:

1. Your advisor discusses risk candidly.
2. You are aware of the fees that you are paying.
3. Your advisor tries to impart investment knowledge to you.
4. Your advisor requests frequent meetings so they can go over your portfolio.
5. Your advisor is aware of and concerned about your objectives.

You have rightly mentioned all the signals that a financial advisor is trustworthy. In addition, I also hope my advisor can give me some advice on which investment instruments I should invest in given my risk tolerance level.

 

[King Belieal]

Most financial advisors always want to manipulate their clients to make financial investments in projects that they, the financial advisors have interest in.

 

[Nomad]

Well, it depends on what kind of advisors you have and whether the have any vested interest or not. You can always hire the one that is best for you

 

[magnus2022]

Financial advisors can be trusted to an extent. Financial advisors are human and are likely to digress from their duties sometimes! An investor must also use his sense or they will use it for him