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You should consider the following questions when evaluating financial professionals:
- Is the advisor licensed? Which certifications has he earned? Which products is he licensed to sell?
- Does the advisor work alone or with a firm? Working with a firm can have the benefit of access to research or other professionals as your financial needs evolve. A single practitioner may focus better on your specific needs.
- How long has your advisor been in business? What is her educational background and professional experience? Can the advisor provide references from other professionals and clients? Be sure to follow up on these.
- Does the advisor have a specialty in line with your needs? Do her other clients have financial requirements similar to yours? Do you have values your advisor should observe with regard to corporate responsibility, environmental standards, employee relations or other concerns?
- How will you work together? How frequently will you hear from your advisor and in what form?
- How is your advisor compensated for creating and implementing your financial plan? With fees, commissions or a combination of the two? Is he compensated more for selling certain products?
Remember, you will be discussing your complete financial situation with your advisor: debt, cash flow, taxes, investments and your short- and long-term financial goals. You want to talk with someone you feel will put your interests and needs first.
Finding a competent financial professional takes some research, just as identifying a real estate agent or internist or lawyer does. Use Calvert Advisor FinderTM Service to locate one near you. Ask friends, relatives or colleagues for recommendations. Your lawyer or accountant may be a source. Or, your bank or local investment firm can help you identify likely candidates. Take a look at the list of broker/dealers who know our products well or call Calvert Group at 1-800-368-2748. We'll be happy to provide names of financial professionals to interview.
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