What to Look Out For When Choosing A Financial Plan

0:00If you're looking for a financial planner who can help you put together a comprehensive financial plan, there are a few red flags to be aware of. This is a money minute from InCharred Education Foundation and MilitaryMoney.com. Here are three red flags every investor should be on the lookout for when interviewing financial advisors. Red flag number one. If an advisor you interview claims he can pick individual stocks that will beat the market or claims he can predict future stock market moves, sometimes called market timing, be skeptical. Red flag number two. If you're promised above market investment returns, undisclosed risks may be involved. If it's too good to be true, don't believe it. Red flag number three. An advisor who repeatedly changes firms may not be a good choice. Disciplinary records can be checked with regulatory authorities. And remember to always ask if the financial planner provides services with the duty of care of a fiduciary. This means they are obligated to base their advice on their clients' best interests. This money minute is made possible by InCharred debt solutions. Visit us online at www.incharge.org.