At a time when the financial context is very turbulent, obtaining support in terms of investments and wealth management remains difficult. And the arrival of digital technology in the world of heritage often does not make things easier. Who to ask for advice? What selection criteria should be considered to find your financial advisor? Find here some points to take into account to select your interlocutor.
Check that your financial advisor has the professional skills and certifications
A financial advisor gives you advice on how to manage your money. However, the choice of a financial advisor depends on several criteria: as a layman, he must especially ask. their professional skills and abilities. The same goes for your insurer and your bank. It should be noted that there is a specific regulation regarding the professions of the financial investment adviser: check that your financial consultancy is registered with a CIF number via a professional chamber verified by the AMF.
To validate the authorizations to practice the profession and the annual training obligations, you also need the ORIAS number of your contact. Also check the professional indemnity insurance that will cover you in the event of an error on their part. These approvals certify the credibility of the financial advisor who accompanies you They also testify to the training followed by the professional, which shows that he remains in search of new fiscal and legal developments.
Define your projects, needs, means and objectives with your financial advisor
The support approach of the financial advisor remains a determining factor that will guide you in your choice. It is a matter of defining your risk profile as a priority and your needs through a patrimonial audit. With this support, the financial advisor will better understand your goals. Then you will be able to present points in line with your expectations and your means. All these steps must be formalized via a letter of engagement. This will mark your relationship with the professional, the purpose of his mission, and also your commitments to others.
It should be noted that a financial investment advisor must respect professional secrecy. It is also required to ensure the confidentiality of your personal files.
Fees to be paid for a financial adviser
Once you have validated the professional skills of the financial advisor and your support process has been launched, the question of cost will be. It must be specified that the cost of the intervention of the financial investment adviser or that of a firm of wealth management advice differ
First, remember that having recourse to a professional for your financial investments does not require minimum assets. In addition, you will find many tools for the democratization of heritage advice. In the same way, pay special attention to products with reduced tariffs or exempt from tariffs. It seems obvious, no one works for free. At some point, your financial advisor will get paid through the business process that links you to them.
The remuneration of the financial adviser may therefore be based on consultancy fees, underwriting fees (life insurance, pension contract, PEA, capitalization contract, etc.) or commissions on managed assets.