Do your homework before you commit
Before you decide to buy a new car, you do some homework. A car is a functional item that you may decide to sell again within 3-5 years. Isn’t it ironic that many investors spend more time researching their next car than they spend on checking the credentials of the company they will invest with?
Investment is a long-term commitment. You need to be sure of the partner you are entrusting your financial future to. Here are some questions you should ask:
- Does this company have a track record I can trust?
- Are they reputable?
- Are they licensed with the Financial Services Board?
- What documentation is involved?
- Do I understand the marketing material/application form?
- Do I believe this company will still be around by the time the benefits become due? How accessible is this company?
- Can I easily find their call centre number or website?
In addition to choosing to invest with a reputable company, you need to find a financial adviser who can help you to achieve your financial goals. The questions you should be asking your financial adviser include:
- Does the adviser have my financial wellbeing at heart?
- Have my financial needs been taken into consideration?
- Has my financial situation been reviewed as a whole?
- Is he qualified to sell the product?
Remember, it is your financial wellbeing that is at stake. You have the right to ask questions and receive honest answers.
Contact a professional financial adviser to help you structure and maintain a portfolio tailored to meet your needs.