| In life, there are times when we need to turn to experts for help. When you’ve got a fever, you visit a doctor. When your car needs repairs, you see a mechanic. Similarly, when you need assistance with your finances or investments, you may consider talking to an investment professional or adviser. Many novice investors are ready to invest but may not know where to start. Some investors may know where or how to invest but do not know if they are doing the right thing. This is where an investment professional or adviser can help. Whether you’re a novice or experienced investor, speaking to an investment professional or adviser can always help. Like the saying goes, two heads are better than one. Just like buying a house, choosing an investment professional or adviser is a big decision. Be prudent. Do not rush out and hire just anyone. Here are some important considerations when selecting an investment professional or adviser. Qualifications
Ask an investment professional or adviser for his/her academic and professional qualifcations or get to know more about the type of clients he/she sees. You should look for an investment professional or adviser who is familiar with the kinds of financial situations you face. Listen to how well he/she knows the industry and investment products, and ask how long he/she has been in the business.
Important! Deal only with financial planners/investment advisers and remisiers who are licensed by the Securities Commission, or unit trust agents who are registered with the Federation of Malaysian Unit Trust Managers (FMUTM). Experience
Sometimes, an investment professional or adviser may come highly recommended through word of mouth. A good track record speaks volumes about his/her capabilites in helping you with your investment. Do not be shy to ask about his/her experience in the different investment services and products or areas of specialisation.
Communication
Apart from being knowledgeable, it is also important that your investment professional or adviser is able to explain your investment plan or products clearly. Investment can be a complex topic to the man-in-the-street. A good investment professional or adviser will keep things simple and comprehensible to his/her clients.
There should always be a two-way communication between you and your investment professional or adviser. When you’re in doubt, do not hesitate to ask questions. A good investment professional or adviser will always welcome your questions in order to serve you better. Asking the right questions can help you develop a better understanding of your investments, choose the right products and, most importantly, make well-informed investment decisions. Sometimes, questions that you may regard as too simple may actually be the ones that lead you to invaluable information. Communication doesn’t end after the first or second meeting. Instead, you and your investment professional or adviser should be in regular contact and keep each other updated on your investment progress. Should you have a new addition in your family, for example, you may want to speak to your investment professional or adviser to make some adjustments to your investment plans. |
